<prompt> Human: Im just now getting into the market for my first house purchase. Im 30 miles outside of a major city Austin, TX and the real estate here is pretty affordable. The houses of interest are in the range of 150,000 to 250,000. I have talked to several mortgage brokers, credit unions and banks, but it seems everyone is giving me a different answers for what to expect. My main question right now is finding a trust-able resource that can help evaluate which type of mortgage works best for me. Everyone I talk to seems to think what really matters is how much I can afford per month. My concern is paying the lowest I can on the loan. So far none of the brokersbanks will do much for me until I find the house so they can run the numbers more precisely.Assumptions: 750 Credit score 2 years of credit history 0 Debt 80,000 income per year salaried Can do up to 2537; down on 300,000 house Plan to pay off home in 12 years Plan to live in home for at least 4-5 years and rent it out from thereAssistant: In general you want a 15 or 30 year fixed rate, conventional mortgage. The 15 year will give you a slightly lower interest rate, and youre planning on paying off the loan within that time frame anyway.The 30 year mortgage will give you more flexibility in case life events mean you need to make lower payments for a while.Human: I have been pricing everything out with the assumption of 15 year fixed with 2037; down. Any thoughts on putting less down and refinancing in a year to clear the mortgage insurance?  <response>: I dont see any point in doing that, especially with mortgage rates on the rise. Put the full 20 or more if you want down and just dont mess with PMI at all. 