BellaOnline Forums Money Home Ownership Financing a new home

I have several questions on buying my 2nd home. What are any thoughts on doing an 80/10/10 vs. an 80/10 w/PMI? I'm nervous about moving into a house w/a Home Equity loan off the bat. I potentially have enough to pay 20% down from savings that I've had over the years, but it would take a nice bit of my savings not my 401K (though I've intended to roll some of this money into an IRA) and the little equity that I have in the home that I'm selling. I also have a car loan rate is 5.05%, which is my only other debt, that I'm debating whether it would make sense to do the 10% down and possibly try to pay off the car. Any thoughts and comments would be appreciated.

If you can aviod paying PMI go for it! What state do you live in? I kinda get the feeling that it is a bad time to buy... Hows your credit?

An Opinion is all i can venture,
too all I know if you are goign for a second home, I think perhaps you should find one thats "perfect" to your situation, not using *your* credit, maybe do a lease option on an allready-ented-out place or a duplex, then only your cash-to-close etc comes from pocket, and you keep yoru credit "clean" as an "investor" should.

-only an opinion
Have a Great Day