I am also curious why people recommend he rent. Renting is a PITA for many, more so then home maintenance (which I kind of enjoy). To each their own for sure, but he states he wants to buy and was asking WHEN he qualifies for a loan, not IF he should buy or not.Actually, what the OP had said in the initial post, which was what I was replying to when I made the suggestion to rent, was So I'm tired of living in apartments and want a house.Being tired of apartments and wanting to live in a house doesn't mean one has to BUY a house, thus the suggestion to rent.It was only after my suggestion to rent that the OP indicated that based on the numbers, s/he felt buying sooner, rather than renting, would be preferable. That said, the OP needs to be sure to include all costs of ownership (mortgage, property taxes, insurance, repairs, upgrades, selling costs, etc.) when determining if it makes financial sense to buy, especially if the ownership time frame will be less than 4 - 6 years. Since the OP is in an area where livable houses can apparently be purchased for $130k, it's less likely that there will be significant appreciation from an absolute $ perspective.AJ
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