Thank you! Yes, I was thinking about a different car (we got the loan on this one before we knew about MMM). We have $10,000 in emerg savings also. But, seeing as my husband is the only income earner, I feel hesitant to put 20% down on a house. I might feel better having liquidity should we need it. It seems like PMI would be $200 a month, and what we could make with the $47k (at 6%) is $235/m, but I would have the money locked into the house. If we pay the PMI, keep the cash, and throw extra money to the house as we have it, it seems to give more options.
By the way, we're considering a 15 or 20 year loan as well in order to pay off the house quicker (but also would be a much higher mortgage, making me doubly hesitant to put 20% down). Thoughts?