re: First time House Buyer....advice/ suggestions?

Try to put down 20% if you can to avoid the PMI. I think the rule changes for PMI in April. Also, dont forget neighborhood HOA fees per year and yard upkeep. The first thing you should do is go and see what amount of loan you are allowed to have. That will determine the size of house you should look at buying. I would also bet your home insurance rate would be dermined by what kind of coverage you chose, so again, another payment added to the list.

and, the property taxes, they will get you too! I just recently bought a house in wbr. I got a 200k house at 15yr 4% and i pay almost 1400. if it gives you an idea.