<prompt> Human: I am in my late 20s, been living at home for the last few years. I have saved up around 70k, and been building up my credit for the last year. I dont have any debt, and currently have 3 lines of credit. My salary is about 33k bringing home a measly 500week after taxes. I imagine if I buy a house I would put about 30-40k down and spread the rest with a mortgage. Is this a good financial choice?With my salary could I afford this mortgage? How much fixed cost would I be looking at with a 60k mortgage, fixed bills etc.  <response>: With my salary could I afford this mortgage?Short answer: most likely. With such a good down payment you wont have to pay any mortgage insurance which will save you quite a bit on the mortgage. Honestly theres a good chance you can afford a 15 year loan on a 70k mortgage. I personally strongly recommend getting a 15 year loan over a 30 if you feel comfortable with the payments.You might want to play around a bit on A 115k home with a 75k, 15 year loan with 3.25 interest and 1.25 taxes comes out to around 650. A 60k loan would be even less. That doesnt include HOA feesif any or home insurance 50mo - 700 is around 13rd of your income which is decent. Talk to a loan officer if you want more specifics.If we assume 700 per month mortgage that will leave you with 1300 for everything else. Depending on your location and lifestyle that can be plenty. Is this a good financial choice?That depends on why you are buying the home. Homes arent always a good financial investment. As weve seen in the last few years they carry quite a bit of financial risk. That said, I love being a home owner and to me owning a home is worth a little bit of financial risk. You are in great financial shape right now to be buying a home in that range so if its something youd like to do aside from any potential financial gainsrisks then go for it. 