Hello, my question was regarding saving for 20% mortgage down payment vs pmI.

Buy now. Considering the increase in value of San Diego property, you may find that the added cost of PMI will be less than the price increase, during the time you are waiting to save the extra 10%.

With the market in your area on the rebound, I would suggest that you get into a home with the down payment that you currently have saved. Since you are planning to stay in the home for more than 10 years, look into paying monthly PMI. This may give you a slightly higher payment for the short term, however you will have the option to remove it once you have built the required equity.

I agree with others, get started now rather than waiting to have 20% - there are ways to make that cost minimal to you, especially if you already have a significant downpayment. I can help: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was the #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013

There is no one (1) good answer that fits everyone. You may be surprised at the loan terms you can get with only 10% down, especially if you have good credit and use Single-Pay Mortgage Insurance. You really want to talk to a lender that is familiar with Single-Pay Mortgage Insurance to get your best options.