Say I want to purchase a home for around 400,000 dollars. If I'm currently saving up for a down payment when do I stop and say...now I'm ready. I'm realistically not going to touch 20% (which would be 80,000) to avoid the mortgage insurance any time soon. Ive considered that but I feel like by the time I have that ready the interest rates will have gone up and I will have wasted too much time. I don't have rich family, I have student loan that I'm still paying down that I have to consider as well. I've been told I need at least 3.5% down which is 14,000. I have that ready and a few grand more but I'm wanting to cushion it because this is my first time and I'm guessing theres going to be all sorts of hidden costs when it comes to closing and moving etc. What should be my magic number before pulling the trigger? Anybody wish they had saved a little more and put down a bigger down payment? How much cushion do I need there for closing costs and all that magical stuff that happens when you buy a house?