My mortgage was something like $180k and I live in a place with fairly low taxes and my monthly payment is ~$1300. Don't forget to calculate in taxes and escrow for your monthly payment because it is not insignificant. I think my payment towards principal + interest is like $900/mo. Also you have to pay FHA insurance since you're putting down so little up front. Everyone says renting is like pissing away money but between escrow and interest I'm pissing away almost as much per month as my rent cost me at my apartment.
IMO in your situation I'd get an apartment for a few more years and save some money to put down. At least 10%. Ideally 20%. It is advice I wish I was given. Luckily I'm in a situation now that I put an extra $1k per month directly towards my principal.