Hi Britt, Paul hit many of the points to consider. I'd add that you should consider your employment stability, the length of time you plan to live in the area, the chances your housing needs would change (get married, have kids, etc), your history of handling credit responsibly, and your attitude towards the many tasks associated with home ownership. Owning a home is a substantial financial obligation, and just as much a commitment to time/effort for maintaining the home. It's important to remember both sides of that discussion. Hope that helps, let me know, I write loans nationally, always glad to help.