If you are purchasing a new home which is complete, you can certainly do that with 10% down (I would go with 10.01 % to reduce the PMI). The best option in your case would be to do a one time PMI paid up front, with absolutely no monthly. This can be done on a conventional loan.
Tony Coplen, First Ohio Home Finance. 614-818-1850 or 614-570-1950.
Please consult with another lender. Your debt-to-income ratio is low enough to allow for the additional increase in the payment with PMI. I am in the Cleveland area and can not imagine that the lender would be totally different in Columbus. Putting less than 20% is more common in lending today. PMI is typically not an issue. Please seek the advise of a lender. Best Wishe!