Offer your thoughts or opinion on the input financial query or topic using your financial background.

Should I wait to save up 20% downpayment on a 500k condo?
I'm of the belief that you should always put 20% down.  The lower interest rate will save you thousands over the life of the loan.  Also PMI is no different then burning that much cash in the fireplace every month. From Wikipedia Lenders Mortgage Insurance (LMI), also known as Private mortgage insurance (PMI) in the US, is insurance payable to a lender or trustee for a pool of securities that may be required when taking out a mortgage loan. It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property. You are basically paying money each month for the bank to be insured against you not paying your mortgage.  But in actuality the asset of the condo should be that insurance. Only you can decide if you are comfortable with having $50k in liquidity or not.  It sounds like a good cushion to me but I don't know the rest of your expenses.