I get where you’re coming from, but I wouldn’t write off all “no PMI” options outright. When I bought my place, the physician loan actually made sense for me. The rate was a bit higher, yeah, but not by much—and honestly, scraping together a 20% down payment would’ve delayed things by years. For some folks—especially early in their careers—it’s worth paying a bit more up front just to get in the door. Not perfect for everyone, but sometimes convenience wins out.
Honestly, I was super skeptical about the “no PMI” loans at first—felt like there had to be a catch. But after running the numbers for my situation, it actually worked out better than waiting years to save up that massive down payment. The slightly higher rate stung a bit, but getting out of my cramped rental sooner was worth it. I do wonder if I’ll regret not holding out for a lower rate, but at least I’m building equity now instead of just paying rent.