No matter what happens with the exception of losing your
job(s) you will be in the drivers seat, if you buy a house you can afford. I usually say buy a house you can easily afford but then I can sense this eerie silence after I do. The theory is that price comes down further to compensate at least partially for interest rates with the added benefit, but not guarantee, of refinancing to a lower rate further down the road.
Don’t confuse the refinance part with the situations you are undoubtedly hearing about in which people were given the same promise, when values we unreasonably high and rates we artificially low. Never buy needing the option of refinancing as a bailout from the beginning.
patient renter. “There’s a good chance you’ll be able to find some lender who will give you a loan with low initial payments,”
Why does the o.p. need “low initial payments” on a house they can afford?