<prompt> Human: Please dont upvote, he reddits and would recognize the situation.So my boyfriend got a job that pays a lot Take home every two weeks is about 2.5k. I think his monthly cost of living is around 3k, but he only has about 10k saved up right now 7k was from a tax return. He has about 70k in student loans. He wants to try to get a loan to buy a 300k house and put 10k down pulling a couple thousand from his 401k yikes. He also hasnt been working a full year, so Im worried hell get hit with taxes next year. Both his parents were excited and told him to do it, but I told him it wouldnt be a good idea to throw away an emergency fund like that especially because he has kidney stones and a really old truck that needs repairs. Is there anything I could say that might convince him otherwise? Or is it possible that he wont be able to get a loan?Update: I told him about closing costs, insurance, property tax and higher interest rates. He said he could still afford it because property tax would be about 3.8k and insurance would be half of that. He seems set on buying the house, so I guess all I can do is hope he doesnt get approved.  <response>: I agree with everything so far. Sounds like hes got a case of the new-great-income-itis. Be sure that job lasts for awhile, pay down the loans, and save a good bit. 