I disagree with Tim to an extent.....
IF you can carry 0 debt, I mean no credit card balances, no auto loans, no anything then sure having a paid off home is tits.
But if you are going to have ANY debt it should be in real estate. 30yr notes @ 4.x percent, that are TAX DEDUCTIBLE are a gift of a lifetime. Take advantage of it.
I do agree put enough down to avoid PMI.
Also you didn't say where you were looking. If it is indeed StC offer WAY LOW. Property is taking a beat down over there. I would assume partly to the Highlands cherry picking businesses out of that area.