<prompt> Human: For a little background:My wife and I are currently renting a home in an excellent location, 5 min walk from our respective jobs, for 2,000 month.We are making approximately 190,000, plus bonuses that could range from 20,000 - 40,000 a year. We are about 23 of the way through our first year working, with excellent job security for at least the next several years. We also have approximately 250,000 in student loans.So this post was triggered by my landlord coming by and asking if we had any interest in buying the house that we are currently renting, for 300,000. We would have enough cash for only a 5 down payment, but he said that he has a banker that could arrange a 3.75 30 year fixed mortgage, without PMI, given that he has a relationship with our landlord and our incomes are relatively stable and amenable to such a loan. The property records indicate that he purchased the home for 325k about ten years ago, and significant renovations were performed since then.The house is good enough for where we are at in our lives, and we hoped to rent there for approximately 5-6 years before buying a home. Now, assuming that 1 the mortgage information he gave us was true; and 2 we would move out in 5-6 years regardless of buying or renting, could it be a good move to purchase this house?EDIT: Also, the majority of the student loans are at 4 or less.Assistant: Ignoring the specifics of the proposition, you have to ask am I ready to buy a house?.Youre not.You have 1.25 years income in student loan debt. You have no emergency fund if you buy. Ignoring that, you still only have 5 down payment. Your loan-to-value would be ridiculous.Dont do this deal. I might find a great deal on a Porsche this weekend, but if I dont have the money for it, I dont buy it. Dont buy this house. Youre not ready.Human: Would your stance change if I told you that I have 10k in reserve as an emergency fund that I am not counting for a down payment calculation?  <response>: I dont think an extra 10K stashed aside makes much of a difference. You have student loans exceeding your annual income. You are less than 12 months into your first job. I wouldnt do it. 