<prompt> Human: Looking at a 190k house. By July we will credit to optimum level. But we wont have hardly any cash to put down. Its our first home, so we would qualify for first time home buyers loan. In October I will get a bonus of 6k guaranteed. Should we wait until October and go with a traditional loan? Would that mean we wouldnt have to pay pmi with 6k down?  <response>: Buying a house with no savings is a very bad idea. There are many costs associated with buying a house, not just down payment and closing costs. You may have repairs, maintenance, furnishings that you need to deal with on day one. 