[quote=sdduuuude]Double check that. Looks like PMI is deductable.[/quote]

As of April 2008 (when I got my loan), PMI is not deductible if you earn a combined $110K or more. The full PMI deduction is only available to folks making less than $100K, it phases out up to $110K. So if you are in the $250K bracket and looking for a jumbo house, it is almost mandatory that you put down 20% or buy down the PMI at about 3/8% interest (if they even allow that anymore), because that giant PMI sum each month is completely wasted, pure profit for the bank.