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I would of liked to done 20% down when we bought our home, but unfortunately did FHA loan. I wouldnt like the idea of depleting my savings though either. The pmi we pay is $30 monthly which will soon drop off. I feel better having cash on hand which is why we did FHA. Like others mentioned you can do 10% or 15% even down which will leave you with more money in your savings.
if you have other possible options to draw money from that would make a difference to.