Let me know if I can help
Frankly, I would encourage you to buy as soon as possible. Although the Federal Reserve recently announced an extension of low interest rates, that could change if the economy improves.
In today's market, I would encourage you to borrow as much as possible with as little a down payment as possible. Why? Two reasons. First, in my life time and in my father's life time, interest rates have never been this low. Second, inflation. Inflation is coming. How high will it get, hard to tell, but more than likely it will be higher than 3% very soon. What does that mean? Basically, in simplistic terms, it means you will have a no interest loan or you will be making money on your loan!
The more you put down, the lower your Interest Rate will be, and, naturally, the lower your Monthly payment.
You will also want to have built up your SAVINGS.
You can set your own goal; say, $100,000.
It will all depend on your situation in 3 years.
Century 21 Amber Realty