Sounds like you might have a high debt to income ratio which having a too high of one will mean a bank will not give you a mortgage. With a house its not just about the mortgage, there is taxes, water, sewer, maintenance and the such and if you don’t have the extra income to pay for everything you will end up in a hole trying to climb out. Yes its a buyers market but they predict it to be that way for a least a couple years and I would be certain of where you want to live before you buy a home rather than sell or rent it out.