<prompt> Human: House is 250k and taxes are around 5k a year, I would put 125k down and take home 1600 a month after taxes not including commission which ranges from 300-600 a month. I would be using some of my inheritance to purchase this property and feel that Im able to afford it. I currently live at home 23m and have been saving money for closing costsfurniture and all of that. With my large down payment and a credit score of 750 are the chances of me being approved good? Also I still have 2 years to pay on my car looking to buy in a year and a half should I double up my payments so that I dont have a car payment when I get pre approved? Im going to meet with a financial adviser in a few months but obviously am excited and cant stop thinking about it. Im not counting on it but I also plan to rent a room out to a friend for 400-500 a month, this is mostly so Im not living alone but the extra money would be cool. Im very fortunate in that If I lost my job for any reason I would still have money from the inheritance to pay the mortgage so Im not worried about losing the house but I wouldnt rely on it because thats for my retirement. I live in the Midwest and 250k would get me a modern 3 bed 2 bath house in a neighborhood where the house prices range from 250-450k.edit- Another option would be buying a house for 100-120k and putting 50k into updating it. Im pretty handy and used to install commercial hardwood floors for a living. I dont need a big house but the older ones just feel so dark and closed off.  <response>: Your looking at a mortgage payment including taxesinsurance somewhere between 1000-1100. Being that this is more than 50 of your monthly take-home, I would strongly advise against it. 