RHDS2K

Bought my house 2.5 years ago when i was 22.. I was making roughly 40-45k when i got it and was approved for 150k.. I ended up buying a house for 134,000 with taxes somewhere around 3300 if i remember correctly.. after taxes and insurance and all that my mortgage is basically exactly $1000 with a 4.25% interest rate. Can't go wrong buying a house, especially a fixer upper like mine was...I could easily flip mine for 170-180 now.. being 25 now, this puts me in an awesome position when i want to sell and upgrade to a bigger place. It's been tough lately because i took a paycut to enter the IT field since i'm almost done with college, but still a good choice and will pay off in the long run. I don't know your relationship status, but my only suggestion is to make sure you and ONLY you are on the loan and title of the house until you are married.. I was dating a girl when i bought mine and we broke up.. luckily i was never dumb enough to buy a house with a girl until im eventually married!

RHDS2K

And as far as down payments, as a first time home buyer you don't always need one.. I bought my house and it qualified for s USDA "rural loan".. That means as a first time buyer you do not need a down payment at all! look into it and see if houses in your area qualify for it. The PMI (with mine atleast) is like $30 a month