First home can we afford it?

My boyfriend currently makes 30 thousand a year and I'm finishing my degree.
We would rather pay into a mortgage then pay off someone else's mortgage by renting. ( as we currently are)
He was told by his insurance company that he can get a mortgage for up to 150 thousand with no down payment.
We would feel more comfortable with a 80-110 thousand home. Where we live it is possible to get a smaller starter home for that price.
We have a car but it is paid off. And our combined debt is under four thousand dollars. We have almost 10 thousand in savings and investments and we've put our selves on a tight budget to save more.
we did up a budget including mortgage payments and utilities and found we would be $100 in the red each month with our current lifestyle. If I got a part time job do you think we would still be able to live comfortably and be able to afford a home?

we're in Atlantic Canada

Yea you should be able to just make sure that you are able to take care of the pets that you have been talking about.

Based on a 30K/year income, you'd be pusing it to afford a 150K home. The loan your boyfirend was approved for was more than likely a teaser rate or atypical option/interest only ARM.

With that said, there are plenty of options in the price rang you mentioned, in most geographic regions in the U.S.

I've found a great Web site that has answered many of the questions you have here. Good luck to you and your boyfriend!

Not comfortably and the next question is there repairs in your budget? Here is a calculator to tell you how much you can afford
http://cgi.money.cnn.com/tools/houseaffo...
Wishing you the best of luck my guess is 65 - 70 thousand, don't forget taxes and Insurance also