Tell us the best option please!

Hi all,I need some help/advice on possibly purchasing a new home. The homes in the neighborhood we would like to live in start at around $400k. We recently sold our house in MD, although I lost pretty much all of my equity leaving us with only about $30k in savings. The house we are interested in is currently priced at $454k. With only 30k to put down, what loan options do we have? Any way to avoid PMI?Combined Income: $170k/yearCredit scores: 784,790, 808Debt (Credit cards, loans) $0Car (lease's) $1000/moDoes it make sense to purchase a house now and gain the tax benefits or hold off and save up more cash for a 20% down? What loan options would yield the lowest monthly payments?Thanks,Keyshawn and LeqweeshaBowie, MD by kandlmd from Bowie, Maryland. Oct 20th 2009 Reply