Couple of tax-related comments here ...
Someone found an internet cite that the deduction for mortgage insurance premiums expired in 2010. (Golly... if it is on the internet, it MUST be true, right?) Wrong. It was extended several times, currently set to expire (again) after this year, 2013.
As far as working from your home offsetting your mortgage costs, don't bank on it. For one thing, the rules for business use as an employee are very strict. You must not only USE a room/section of the house exclusively for business, but the usage can't be contrary to local or contractual law (E.g., if a HOA says you can't work out of your home, that nixes the deduction, technically.), AND the usage must be for your EMPLOYER'S convenience, not yours! So, if your employer LETS you work out of your home, say, two days a week, but you also have the option to come into the office instead, you get NO deduction for using that room, as it is clearly for your convenience.
And even if you qualify for business use of the home, you can only write off a tiny percentage (the ratio of that "exclusive use" space to the total square footage of the home) of the utilities, HOA, general repairs and maintenance, etc. You also claim depreciation on the room, and may have to repay that part of the tax benefit when you sell. And, last but not least, as an employee expense, this goes on Sch A, subject to the 2% of AGI limitation, so it might not even save you a dime of tax, over what you might save anyway from the mortgage interest and taxes.
Basic rule: NEVER buy a home PRIMARILY for tax savings. Depending on your income, other deductions, and amount of interest you pay, it might not save you a dime.