I agree with DWCAP’s analysis because I am VERY bearish on condos. I don’t think the OP should invest in a condo as they have not typically held their values very well.

Also, I agree that the OP and his spouse, based upon their current FICO scores, their savings level and the level of consumer debt they are still carrying, are not really in a position to purchase anything right now, at least not on the most favorable terms.