<prompt> Human: I am graduating from college in Southern California in March and have a job starting immediately near San Fransisco at about 100k.I would rather buy a condo or something so I can get the mortgage interest tax deduction and start building equity than throw money away at rent. Hoping you all can help me determine if I can get a mortgage.I have 25k in retirement accounts. I also have about 15k in cash right now which will cover the rest of my tuition about 3k remaining, my rent 800 a month for the next 5 months, and other expenses until I get my first paycheck. I am also expecting about 5k in January from my tax refund.In my first paycheck, I will get 3k for relocation and a 10k signing bonus.I figure that once I graduate, I will have about 12k in cash left over from my 15k plus 5k tax refund. That plus the 13k bonus in my first paycheck and the 25k in retirement accounts gives me 50k. That would be 10 down on a 500k condo.I have a FICO score around 760 right now which I built with several credit card accounts that I have always paid in full. The oldest is 3 years old. I have no debt.Can I get a mortgage immediately? I need to move there before my job starts...so I would have to be approved before getting my first paycheck. Would it be a better idea to wait a few months? In that case, I would have to find an apartment without a 12 month lease...Looking for any advice or suggestions you all can provide. Thanks!EDIT: Thanks everyone for the advice. So it looks like its really not doable at the moment and I should wait a year or two and save up more before even thinking about buying.  <response>: I would rather buy a condo or something so I can get the mortgage interest tax deduction and start building equity than throw money away at rent. Renting isnt throwing money away, its paying for a place to live.Do you have an emergency fund? What you are suggesting is rather risky- putting all of your liquidity into a 10 downpayment on a 500k condo. You would need to pay for PMI. What are the property taxes? What is the HOA fee? There are huge costs associated with homeownership. This is very risky if you have no emergency fund.The idea that home ownership is always financially preferable to renting is misguided. I wouldnt do this if I were you. 