<prompt> Human: My SO and I along with a roommate are currently renting a 2 bed2bath apartment for 900 a month. We split that rent 3 ways. My SO and I are looking to get a home on our own. We have figured out we can afford 600 a month in rent and 200 a month in utilities. We have about 500 saved for a down payment. Our lease is up in August. His credit score is in the high 600s and mine is in the high 500s. He makes 30k a year and I make around 23k a year. Could we REALLY get a 2 bedroom 2 bathroom at least home with the parameters? And if we do... where do we even start? Ive been looking at homes... how do I figure the price of the home I can afford? I really appreciate anyone taking the time to help me out with this :Thank you!Edit: I want to say thank you again to everyone...you have given me great advice. I need to focus improving my financial health before I think about a house. Even if I could get approved, I s dont believe I have the good financial habits to sustain a mortgage payment.Edit: UPDATE: NO WE CANT LOLWe read through all of your posts together and we have decided to hold off and get a good deal of money saved before we take the step to buying. Now its time for me to get a budget together!Assistant: Hi. We need more information, but the answer is probably NO WAY. :Lets say you put down the absolute lowest payment you can on a house: 3.5. Thats 1.75k if you get a house for 50k which would mean you live in a very poorlow cost of living area indeed. Given that your rent is 900 a month and you have a roommate, I imagine youre actually looking at a house thats at least 100k, so youd need 3.5k. Unless you can save 500 a month, you wont have that by August.On top of that, you have to consider that you will pay PMI, taxes, insurance, and upkeep. With your bad credit scores, youll have high interest rates.Human: Well at least I know not to get excited about it lol :Assistant: Hey, I know how much this must suck. Honestly having my own home is one of the most important things in the world to me. It is just really hurtful and discouraging when you look at the numbers and it feels impossible. On the other hand, it would be much worse to lose a home youve lived in for several years because you couldnt afford the payments.It is good that you are educating yourself about this stuff now. By figuring out exactly how much you need, you can set savings goals and work on improving your credit scores and income, so youll be in a good spot to buy a home in a few years. Human: I dont want to just jump into it and then be looking back in 5 years and wish I would of waited Ive done that with WAY to many other things in life I am 21 and he is 28.. It isnt going to hurt us to wait. It makes me so mad to throw away rent money every month though. We also cant handle living with the roommate we have right now and thought this could be the next logical choice. I have a VERY hard time saving. I have never been able to save. When I was making a bit more money than I am now, I had a few hundred saved - but that is all. I only make enough now to BARLEY make ends meet. Which brought me to life choice: I am just now going back to school. I cant get a good paying job without a degree. I suppose a better time to buy a house is when I finish school, get a higher paying job - and we have more money in the bank. I just wish it wasnt so hard. I want to live somewhere that is MINE. My SO feels the same way. Assistant: Well, firstly: rent money is not throwing money away anymore than buying food is. You dont have a tangible asset to keep, but you need it to survive. I suggest you start looking at the site: padmapper.com to find a new place for you and your SO to live without your roommate. With the saving concerns, I suggest you start here: The software costs 60, but you dont need it to get the real value of YNAB. All you need to do is understand and try to use the method they have. It will help you use your money to reach your financial goals. Personally, I think the software is worth every penny and it goes on Steam sale for 15, but just because it works for me doesnt mean its the best for you. However, the method will work for anybody, as its very basic.That said, your income doesnt leave you a lot of room to save. Going back to school sounds like a good plan. Be sure to research your options carefully so you dont end up with lots of student loan debt. If you combine community college classes and state school, you should be able to get government grants and scholarships to cover most, if not all of your costs. Keep in mind that raising your income will let you buy a house you really love instead of settling for something crappy because you can squeak by on the payments.Human: I am checking out both sites you recommended. My SO and I have a plan to sit down tonight and make a budget - etc. We dont do that right now. We live paycheck to paycheck. If my car broke down right now I wouldnt be able to fix it. We need to be able to have a budget and some savings before we take this step.I have a VERY VERY VERY bad money problem. I blow my money on impulse and then have nothing left over. I always am borrowing although I always pay back I just have a really hard time handling my money. I was never taught to do it - so now I need to teach myself.  <response>: I have a VERY VERY VERY bad money problem. I blow my money on impulse and then have nothing left over. I always am borrowing although I always pay back I just have a really hard time handling my money. I was never taught to do it - so now I need to teach myself.Yup, thats going to be a large issue - the sooner you get a handle on that, the happier your life is going to be.The key for me has been to realize that money does not buy happiness. It doesnt. You wont remember whatever Target purchase or cocktails or takeout dinner you bought a few weeks later - but youre sure going to remember how stressed you were about money, and how you couldnt afford to get out of an emergency.Good luck! 