<prompt> Human: To begin, I appologize for the length of this post, but I really need help. I am a 24.5 year old living in the Washington, DC metro area who works in businessmanagement consulting. I should mention that this position is very stable. Last year, I spent 12,000 on rent and utilities - in comparison to my peers, that sum was on the low end. Reluctant to burn another 12k, I am hoping to become a first-time home buyer within a years time. Brief Financial Breakdown - Current Liquid Assets: Personal SavingsChecking - 25,000, home savings account - 10,000. Years Time Total liquid assets: 50,000Debts: 500 mo. car, phone, etcFico Score: 760 - no credit card debt, always paid in full. Salary: Current - 55,000This is where things get somewhat... unbelievable. It appears I can easily apply for a First Time Home Buyer loan and put down somewhere between 3-5. Lets say I opt for a West D.C. Rowhouse Shaw, Admo, Glover Park, etc. priced at 600-650k. For me, 18,000 - 35,000 down is totally doable. According to rough estimates, thats about a 2,000mo. mortgage. Renting out the other roomrooms would be a cinch and could contribute 1-2K depending on rooms, location, etc. In the end, I could be left paying very little out of pocket, while living in my own space. Furthermore, my firm will pay my MBA in 1.52 years. Renting out the entire row house wouldnt be difficult and would more than cover the mortgage while leaving plenty left over for utilitiesmaintenance. So what am I missing? Seems to good to be true...NOTE: I should probably mention where I get my money, since that comes up frequently in other posts. Throughout college, I owned and remotely operated a state subsidized oyster farm. Prior to graduation, I liquidated the company and sold assets, which paid for the balance after scholarship of my inherently expensive liberal arts education. Also, I am very lucky to have parentsgrandparents who graciously opened a small account to help pay for my first home about 10,000.  <response>: Salary: Current - 55,000Honestly, you cannot afford mortgage over 3x your salary. Anything less than 165,000 is what you want to ensure in the worst case scenario that you and you alone can over the mortgage payments. Lets say I opt for a West D.C. Rowhouse Shaw, Admo, Glover Park, etc. priced at 600-650k.No way. 11:1 ratio for mortgage to yearly salary is out of the question.Also, home ownership is more than just the mortgage PITI - principle, interest, property tax, insurance. You also have to factor in things like services like trash, lawn care, security monitoring, HOA. On top of that, throw in 1 of the homes value to cover yearly maintenance. 