For first-time home buyers, saving enough money for a down payment is among the top obstacles blocking their jump to homeownership. Where current homeowners can often use the sale of their house to help fund the upfront costs of buying another home, first timers have to come up with the money by budgeting and staying disciplined. But is it better to put off buying a home until you can come up with a full 20 percent down payment or should you buy now and put less down? This can be a complicated equation – especially since it ultimately depends on how much prices and mortgage rates rise or fall in the future. Despite this, a new calculator from mortgage insurer MGIC hopes to show new buyers that sometimes waiting a year or two to save up money can actually cost more. Vance Edwards, MGIC’s marketing program director, says that – while they don’t want to encourage anyone to buy before they can afford to – they want to help counter the notion that buyers have to save 20 percent before they can think about homeownership and help show that, not only are there other options, it sometimes costs more not to explore them. More here.