<prompt> Human: I just graduated professional school and have been offered a job that will pay 120kyr at minimum. My wife is in a similar situation and will be paid 83kyr salaried. Our total student loan debt combined is 200k at 5..minimums are roughly 2200mo for the standard 10 yr repayment. Only other debt we have is one car payment at 330mo. Still owe 8k on the car, but the interest rate is less than 1. Other vehicle is paid off. Mid 20s, located in the southern US. We have been renting for the last 4 years and my wife really wants to settle down and purchase a home. We have about 15k in savings. 1: Should we consider buying a home or keep renting?2: I qualify for a physicians loan 0 down, no PMI. Should I take this and not use any of our savings for a down payment? We do not have an emergency fund without that 15k.3: What is a reasonable range of affordability for a home in our situation? Wife is currently looking at homes in the 200-250k range.We do not plan on making any other significant purchases and I want to pay down my student loans as aggressively as possible. We will most likely use any remaining income to throw towards our student loans. Thanks!  <response>: Someone else will be along shortly to provide a detailed mathematical analysis of your budget vs savings, but Im just going to give you some general advice, which is: wait a year.You absolutely can not afford to buy a home today. With only 15k in the bank, you have NO cushion for home ownership. Your monthly payments alone will eat that up in 4 months, not to mention cost of actual living. You have a 90 day emergency fund right now. If your AC dies in the middle of summer, your emergency fund is wiped out by 30.If you buy a house today, youll spend 2 years just catching up and living paycheck to paycheck. However, if you wait one year, assuming you dont succumb to lifestyle creep, will have 75k in the bank and be MUCH more empowered to make good financial decisions, have a solid track record of employment, retain the flexibility to move around if you hate your very first job out of school, etc. In one year, you will be able to afford a 250k house easily while simultaneously being able to make aggressive loan repayments, save for retirement, and have an enviable discretionary spending fund. 