You should immediately pay off the car. Having a loan on a 7 year old car is ridiculous.
The number one way to building wealth is to not have any debt (with exception of a home).
You should absolutely buy a home, but only if you can meet the following criteria. If you cannot meet ALL of the items below, continue to rent until you do so:
1) A down payment of a minimum of 20% of the cost of the home. No PMI.
2) A payment that is no more than 25% of your total take home pay.
3) A fixed rate mortgage for a maximum term of 15 years.
4) You plan on living there for at least 5 years.
So long as you can meet all four of those items...and.... you don't have any other debt of any kind - buy the home.
Otherwise, wait.
EDIT: I see you live in a relatively high cost of living area. This doesn't change anything I just said. Simply living in an area that is expensive does not give you a pass on basic math.
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Don't sweat petty things....or pet sweaty things.
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