If your current rent is $1200 (*) and you’re struggling with putting $800 back, that puts your absolute max mortgage at about $2000/mo.
A 30 yr fixed on Sunset Cove, even with 20% down, is going to be closer to $3000/mo than $2000/mo.
It looks like your best plan is to continue saving and waiting for prices to drop more until the necessary purchase price / down payment / monthly payment lines intersect at a very comfortable level.
Please keep us posted!
(*) – $1200/mo was sduuuuude’s guess at your current rent, so figures above will need to be adjusted for your specific situation.
