You're making a good move. I also bought my first house up in Chicago back when I was 22; saved up and worked hard to pay my own way without any handouts. It was one of the best financial moves I ever made. Lived in the house for 7 years, then sold it last year for nearly 60% more than what I originally paid for it!!! I took the final sum and bought a house down here in a Dallas suburb/Collin county for next to nothing (owner built 2nd home and was over a barrel paying 2 mortgages). I got to put a big chunk of money in the bank even after putting 25% down on the house. So nearly 9 years later, my net worth has improved vastly.

Keep in mind any points you pay on the mortgage are tax deductible. They must be listed as "points" and not simply be other fees or closing costs, etc. Also, the mortgage interest and real estate taxes are deductible. Best of all, you will get equity and a steadily improving net worth.

I know it sounds cliche, but you really will be 30 before you know it. Making sound decisions at a young age will really pay off down the road.

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