Good point, waltworks. Depending upon if the Fed raises interest rates as expected by Q2/Q3, I could still get a favorable rate. Depending upon the condition and improvement needs of the house I buy, I may or may not be up for the additional work and management of a rental property. I guess we will see as the time comes.
From the replies, two strategies have been suggested. A) I could buy a low-price home and attempt to pay the home off quickly, thereby freeing up my debt burden and in lieu of investing more in real estate, stocks, etc., or B) Finance as much of the home as possible, pay the home off in a 15-20 year period and use my surplus income/cash over that time for investment opportunities. With strategy A I am worried that forgoing the compounding interest of stock/bond investment means losing out on exponentially more income 30-40 years down the road.