1st Time Home Buyer Purchase - Kihei, Hi

[Blake Nelson]

Aloha All! 

I’ve been looking at purchasing a condo as a primary residence to live in for a year before renting it out. However, with only a 3.5% down payment, obviously this puts my mortgage payment significantly more than if I had a 20% down payment. My question is, should i be looking to purchase now with a 3.5% down payment or should I keep saving over the next 2 years to get to a larger down payment. 

Thanks for your advice!