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My wife and I are recent college graduates and are paying off the rest of our student/car loans. We are currently renting a home and are thinking about buying one soon. What do you think about buying a house while we still have some loans to pay off? Should we focus on the loans for now and then look at buying a house when those are paid off? Thanks.

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What is the market like where you are? Can you purchase a home for the same or less monthly payment? If so, then go for it! 2014 is a great year to buy - low rates and real estate markets finally picking up steam. If you are VA eligible, do not allow a mortgage loan officer to put you into anything other than a VA loan - rates are lower than conventional and there is no mortgage insurance premium (MIP) like an FHA loan. Make sure you have a budget and some reserves, then go for it!
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Yanks2,

Congratulations to you and your spouse for graduating! What an accomplishment! :)

 

I recommend you ask this question in the Ask USAA forum so that one of our CERTIFIED FINANCIAL PLANNERS™ can give you an expert answer! Or you could reach to our financial planning services here at USAA. You can learn more about them by contacting our team of Financial Advisors at 800-771-9960.

 

Best of luck!!