<prompt> Human: Currently my fiance and I, both 24, are looking to purchase our first home later this year. We live with my parents and are looking to get out before the wedding at the beginning of next year. Right now we dont have many expenses and are able to save up about 2,000 combined each month. One of my biggest concerns is that we do not have any credit, or rather not enough to generate a credit score. Ive often heard that having no credit is worse than bad credit. Would it be possible to to build up our credit enough to get approved for a mortgage?For a little bit of background: We have no debt, both make contributions to our 401Ks and I make contributions to a ROTH IRA. At the moment I have 15k in savings between my emergency fund, ROTH IRA and a few individual stocks. I also have 1k tied up in a piece of property I own along with my parents. As for her, she has roughly 5k in an emergency fund. I would like to get her started on a similar investment path but Ill save that for another post. Our annual combined income is 55,000.I have looked up various mortgage calculators but Im not sure if those numbers can be trusted. Im sure a few more factors go into determining that outcome but based on what I put in it seems to range from 120k-160k, we were looking more in a price range of 100k to begin with.I can give some more information if needed but hopefully that covers most of it. I believe we are ready, I just have no idea about how to take the next step. Like I mentioned before I have a feeling that we would never get pre-qualified because we have no credit history. Even after all of this would renting still be a better option?  <response>: Make sure you really want to own a house. If home maintenance isnt a hobby you look forward to acquiring, you might want to just rent. 