<prompt> Human: Both my wife and my credit ratings are above 740, our combined monthly debt payment right now is 800, our combined gross income is 120,000 median household income in our area is around 70K for reference, and were paying about 1500 per month in rent on a townhouse. Our problem is were freshly out from under our student loans so our combined savings is around 18K. Were wanting to buy a house in the 200K-225K range, which we could theoretically finance 100 and still be able to save significantly, even with a 15 year mortgage. The problem is the down payment. In our area, the real estate market has been rebounding pretty hard for the last 6 months to a year, and Im not seeing a lot of indications that this will slow down. Theres a chance it stops moving up and we can rent for another year and be in a better position, but its also very possible that a 225K house now costs 235K in a year.Ive seen a lot of posts on the subreddit covering very similar topics, and the conventional wisdom seems to be to wait, but it doesnt seem like any of the OPs are as financially secure as we are. Is it still a terrible idea to pursue a purchase right now if were only comfortable putting down 5?REDDIT, I TURN TO YOU!Assistant: All your vitals are in shape ... except for the vital down payment vital.Are you really that much in a hurry that you want to pay PMI?Human: Were not really in a hurry. Its just hard to find unbiased advice without coming to a place like this. Both of the two avenues for financing we would go through would end up costing around 600 per year in PMI, which is 600 Id rather keep for myself. You stack the 600 per year on the 5K in taxes and the 1200 in insurance or whatever it is... it all comes out to pissing away less than the 18Kyr in rent Im paying now. But at the same time I know that comparison isnt that simple.  <response>: The advice being given is pretty much Dont do it.Its generally a bad move to finance a house with minimal down.Save up the 20. It shouldnt take long on your salaries. If you struggle to do that, you couldnt afford the house to begin with. 