Well lets be honest. First off, 550 will not get you into a home. Need a 640. You will also have to at least pay the down payment since ZERO down is too good to be true. If you do find someone to get you a mortgage with a lower credit score or offer you a ZERO down...you are usually paying for it somewhere. Next, 10 years in Lubbock. As an investor or someone who does the math, yes i would buy. You can make your money back plus some vs. wasting it all on rent and getting ZERO back. I would focus on school first and if you so happen to get your credit score up and save a bit to buy a home, go for it. Just make sure it pays in the end.