Well, if you are a student then you should wait until you graduate and get a job. If you have bad credit then you should work on cleaning that up by paying off anything that is outstanding and making all future payments on time or early. Personally, I would go into home ownership debt-free. Then, you need to save up a healthy emergency fund and a healthy down-payment, plus closing costs. I would try to have a minimum of 10% down and about 3% to 5% for closing costs. Finally, you need to figure out what your payment, taxes, insurance, home owner's dues, and upkeep will be on the house. Take that amount and put it into savings EVERY MONTH. You should soon have the funds mentioned a bove AND you will know you can make the payments. FYI - the mortgage crisis was caused by folks who WANT to buy a house instead of those who wereni a position to buy a house.