which rate/terms should I go with?

[Andy Krzanowsky]

Rates currently running at 4.125% on a 30 year with 20% down and 4.375% to 4.50% with 15% down.

I am purchasing a SFH for $160k.  Putting less down would save me about 8k in down payment to help build my next down payment.  I realize I would then have PMI by going with less than 20%.

Is PMI something I can write off though to help mitigate the expense?

Thanks

Andy