I'm a 29year old mother who makes about 37k a year with a 6year old and receive nominal child support. Due to my divorce decree I have to have to stay be in a geographically restricted area which has a very high cost of living. I have a very good credit score 802 and I was thinking (this may sound crazy) that I wanted to possibly have a mortgage on a 89k condo. The only issue is that it is a 1 bedroom and about 897 square feet. I don't want to live their permanently, but it would give me some stability. I have only lived in 2 places in the past 9 years but get annoyed with rent increases. In the meantime I would be saving money to maybe put on a house. I was pre-approved for a 160k loan, but want something that is cheap. Is this a bad idea? My son is not with me the entire time, but I still wondering. Thanks for any suggestions.
Read more: Does this make sense, I'm totally new to home buying so please be brutally honest>?
