So I [26M] am being gifted a large sum of money for a downpayment. I currently work full time in IT and have roughly $10,000 saved up at the moment. I have no significant debts besides a car loan which has roughly $6000 remaining. This whole thing was suddenly sprung up on me and is causing me a massive amount of anxiety/excitement as I don't feel ready for home ownership. The idea is to have a home under my name and live there while I rent out the basement. For more context the home they are looking to purchase for me is ~ $460,000, they are providing me with a $120,000 downpayment, and the potential to rent out the basement is safely around $1200/month I'd be paying the remainder of the monthly mortgage/utilities/etc. I'm in the process of getting prequalified, but I feel as if there are so many steps to this process that I didn't get to fully absorb since it happened so quickly. I never asked for this and I'm grateful to even be in this position, but I'm still very nervous. Any and all advice is deeply appreciated!