Having a mortgage isn’t just about the initial monthly payment. It often goes up due to increase in property taxes and/or insurance. You will also need to factor in the cost of maintenance. You never know when you’ll need to replace a roof, appliances, AC, plumbing etc.

No you cannot. The parents would also have to be added to the loan. I have seen parents buy a house in a college town for their kids to use while in school. I’m fact my parents did that when my brother went to school. But my brother wasn’t on the loan due to lack of qualifying income, credit history, etc.

I can’t imagine you’d be able to get a mortgage. My brother has a graduate degree and a 6 year work history at a very well paying job, large down payment, etc. He moved to a new town and couldn’t get a small mortgage until he had accepted an offer and was working at his new well paying job.