<prompt> Human: Hi, I am 24 yrs old, and live in the Midwest. I graduated earlier this year and landed a job close to home. My yearly salary before taxes is 56k. I am in a situation where my dad is very ill and my family lost our house about 5 years ago to foreclosure, just before I started college. We were always poor growing up so I went to college with the intent to get a good enough job to buy my parents a house.I would like to hear advice on if I can go about doing that, and if so how? I know financially, its a really poor choice to make at a young age and with not that great a salary but my family is getting kind of desperate as the rent prices here are ridiculous. Currently we are renting a house for 1850mnth. It isnt even great or anything, just has enough bedrooms for my parents and little sisters. I am currently living at home to help them pay the rent and other bills. Currently I have no savings as I am allocating any income after bills to paying off my credit cards, which I should be done paying off by December. After December my monthly bills will be:Car Insurance: 70Gas: 50Gym: 20Student Loans: 350 start paying in December and can change the amount i have to pay401k: 120Train Fare Card: 120Rent to parents: 1100Entertainment: 200 includes eating outAfter taxes and before bills my monthly take home is 3000.My dad gets disability every month that comes to about 2200.And one of my sisters makes about 30k a year and will be able to help pay the mortgage.With that given information, will i be able to afford buying a house? Would I even qualify for a mortgage? If so, how much would I reasonably be able to afford and what would my monthly mortgage bill look like?I have looked at the estimators online and they say my monthly mortgage will be roughly the same as the rent bill we are paying now, is that true? that seems pretty high.Also, does anyone know if i would be able to include my dads disability income and my sisters income to get a higher loan?Also, if it helps, my credit is around 720, and my dads and sisters are about 650.Thank you so much, any advice or help is greatly appreciated. EDIT: To clarify, I have no savings right now, but we are planning on saving as much as we can for a down payment and for myself after December start heavily saving for emergency fund before we even apply for a mortgage. Just wondering if its financially feasible to afford a mortgage with the given situation.  <response>: Buying a house is not how you save money in the short term.Instead, it costs an arm and a leg and you pay MORE in the short term.That is, if you want to buy roughly the same house you already live in. If you are trying to reduce your total expenses on housing in year 1, its likely you will need to massively downsize your SQFT.The mortgage payment is not the whole housing expense. If you think that it is, you need to look more into the downsides of owning.You would probably qualify for a mortgage of maybe 150k by yourself and thats if you have enough to pay a decent downpayment 8k and the various fees 10k for the house buying process.If you cant get a 20 downpayment, you should assume your expenses on housing will go up in total, rather than going down or staying the same.If anyone else needs to contribute money to you, like parents or sister, the process will be much more painful. There will be documents to sign saying you dont ever owe them money back that they gave you under any circumstances and you might have to use their lower credit scores instead of your higher one. 