<prompt> Human: Just signed an offer to start with a company after I graduate in May. 70,000 a year in base salary with 4k sign on bonus, the only debt I have is a truck payment that will end in May. The reason I am thinking of buying a house is because the town I will be in is roughly 1200 people and has very limited rental options from what I have seen. I also see quite a few houses in the 40k-50k range. Additionally, the state I live in only requires a 500 down payment to buy a house. So I was thinking of using most of the sign on bonus to use as a downpayment. My other option would be to drive about an hour 1 way from a larger city if I cant find a place to rent. Any thought is appreciated!  <response>: With houses at 40k and your income at 70k, you could probably have it paid off in 3-4 years. And if the rental market is that tight, you could turn it into a rental if you have to move. I say, go for it but wait til you have 20 down to avoid the PMI. 