<prompt> Human: Im married with one child, and just recently started making around 100kyear was making about 70 before. My wife and I are thinking of buying a house, but only have 25k saved up for a down payment at the moment. No debt at the moment. Wed really like to get a house, but dont have the recommended 20 down payment were thinking of a house between 350k-375k.Ive heard some people say that you might as well take advantage of being able to put less than 20 down on your first home because interest rates are so low. Id just like to hear some peoples opinions; do you think the low interest rates make it worth it to pay less than a 20 downpayment and thus have to pay PMI? Thanks!  <response>: PMI isnt inherently evil but just understand the costs youre getting into. Your PMI premium will be lower if your credit scores are excellent. Theyll also be lower if you put 15 down versus 5. Just plan that furnishing a house can cost another 10k easily and thats if youre re-using a lot of what you have. Property taxes will most certainly increase even if by just a little each year. Then youll also want a good chunk of change set aside for issues that will come up with owning. For example, I had to spend 1500 on a window replacement off the bat. I would just focus on saving more if 25k is all you have because thats not enough for the price range youre looking at. Dont worry about timing the market. Youll be happier with a cushion in your pocket than living in constant stress by having no savings left. 