1. This post might get taken down as a survey question which is against guidelines.

2. In a perfect world, a down payment large enough to avoid pmi also proves you are good enough at squirling away funds that you can be certain you will be able to squirrel away funds for all the $10k house emergencies that occur every few years.

The fact is though we don't live in a perfect world and skyrocketing rents and housing prices for many means waiting for that 20% is unrealistic.

Its riskier, but if you feel confident in your budgeting, your job, and your desire to stay put at least 5 years, and you are in an area where prices are continously rising quickly, then getting in as soon as you qualify for anything is just a risk you have to take.