<prompt> Human: Recently I got discharged from my job and Ive just picked up from all the debt I racked up by being unemployed for 2 months. I got a decent now that pays 30 an hour or about 60k a year. Im almost debt free,I have made sure that by the time I close on a house I will be debt free so I do not have any other financial obligations to credit cards besides the mortgage. So I bring in about 4k a month after taxes, I have a wife and kid that I support by myself. My wife cannot work because our son does not attend school yet, pre-k is not free in the state we live in so it is about 1.5k a month which is what my wife would bring in if she did work so thats pointless. Anyways, I am 22 and am most likely going to close on a house last January or February. I currently live in an apartment thats 1500 a month. I got pre approved for 250k but will only buy for 220k max.Without credit cards I pay-125 for car insurance-110 for cableinternetphone-Electricity is about 80 but it may drop or increase in the house.-I dont pay gas or water in my apartment so I am unsure of how much it will be with 3 people in a house.Also, property taxes will be around 2800 a year and home insurance at 750.When my son starts school next year in September my wife will start work so that will bring in more income.What do you guys think, Should I or hold off on it? This is my first time buying a home and I do not want to make a poor decision here that will cost me a fortune.Welcoming any advice or criticism. Thank you in advance.Assistant: The loan offers a no downpayment, as for the emergency fund, I do not. My emergency fund will start with my tax return which will be the same as last year of about 8-10k. Since I have no debt that 10k will go directly into savings. And I will have around 1800 left over, So I will continue to put some of the leftover money in my savings and all of my military drill pay.  <response>: Id just like to weigh in on this no down payment option and say that while its a nice perk for our soldiers, its also a a bit of a burden. The reason being that youll be underwater on your house for a really long time if you dont put a sizeable payment down. Please do the math or if you dont know how, Ill put together some comparisons for you-- Im an accountant and understand that not everyone is to see what you pay over the life of the loan with 0 down and with 10 or 20 down. Also, figure out how long it would take you to make enough progress that you could sell if you had to.For reference, my family of 2 makes 150k and we got a 15-year term on a 240k home with 20 down last year. This house is generating wealth for us and at any given time, we can sell and have enough cash leftover to move just about anywhere we want not San Fran or other obscene COL areas, of course. Im not saying dont buy with 0 down, because a home is a home, and I believe our soldiers deserve that. Im asking you to be the best informed home buyer that you can be, because you also deserve to build wealth and not be underwater on a home that no longer meets your needs. Ive had two family members be forced into foreclosure on their VA loans and this is something I passionately feel is broken about the VA loan system. 