<prompt> Human: Hi PF, I am in the process of buying a home. I would love a second opinion on wether you guys think I can afford the house and still save money. The house me and my wife are buying is 255k. We will be paying about 1700 a month, plus 2 car payments one at 360 and the other at 439. Both me and my wife make about 7200 a month after taxes. We make roughly 130k a year. She has some student loans 15k pay about 150 a month. We have about 47k in savings. And planning on putting down 15k on the house on closing. Also the house is valued at 276k so we are getting a great deal. What do you guys think? Please let me know your opinion, it is our first purchase.  <response>: Yes, you can afford it. And planning on putting down 15k on the house on closing.Do you mean youre only putting 15k down on the house? If you live in the US, this is a big mistake. In most if not all areas, youll have to pay mortgage insurance if you dont put down at least 20. You have the money to do so, so why not? 