<prompt> Human: Hi PF! First time home buyer here and looking for some advice. Would it be unwise to purchase a 310,000 house on a 63K salary? Job is pretty stable with about 5-7 raises each year. I plan on putting 10 down wo touching emergency fund. Paid off student loans a few months ago and currently have no more debt. Im not sure how much pmi and hoa fees will cost yet, but will find out hopefully soon. The house is located at in an average COL area Phoenix. Ive been fortunate enough extremely grateful to still live with my parents at age 25. As a result, I have very few monthly expenses car insurance: 80, phone: 65, foodgroceries: 150, gas long commute to work: 100, funmisc: 100. My credit score is about 770 and plan on hopefully getting pre-qualified for a loan this week. Any inputadvice would be greatly appreciated. Thanks in advance!Edit: Thank you everyone for your input and suggestions. I just got home will go thru all the comments, but at a glance it looks like the major consensus is to look for a smaller home that is more aligned with my income. Im glad I checked with yall first before I made a decision!  <response>: Hell no. On your income Id stick to under 200k. The payment on a 310k home with 10 down will be at least 1.8k a monthmaybe even more if the taxes and insurance are high add in utilities and maintaining the home you would be looking at around 2.5k a month for the home. You cant afford that when you probably only bring in 3.3k a month! That only leave you with 800 for all your other bills and food. Also on a side not my husband brings in double of what you do and we are considering moving to a home in the 300k range. When we made 75k combined 6 years ago we bought our current home for 160kwith 10 down and money was tight some months when something major broke. the mortgage was 1.2k a month and utilities 350 a month and maintenance ran about 200 a monthsomething always breaking or needed replaced!. We also had no debt! We have since refinanced to a 15 year loans and its now 1.4k a month but we bring in 120k a year so we can afford it now. So do not under any circumstance buy a 310k home on your income! I dont even think you would get approved for that much anyways. 