Now, the rates are high due to all the fears of defaults in the coming months in the market and all the major players tightening up their lending guidelines and pulling out of certain loans all together. 

from what i am reading here on BP  Non QM investor loans are seeing some of the major players Pause / stop for now.Jumbo loans seem to have really tightened the criteria leaving few who could qualify it seems like There is no question of lending tightening up here in the short term.. 

I can afford the monthly payments just fine with no real strain put onto my life or ability to support my needs.

People still want to buy. 92% of new listings last week went under contract, bidding wars still common here.I think the area that is going to be affected is the Fix and flip   wholesale  Non owner occ stuff.. fix and flip only because HML are really tightening up.. so with less liquidity prices might come down..

A few of my loan officers from different companies informed me they are still lending but have just tightened up there lending criteria apposed to others who have stopped lending all together. 

But I tightened up my minimum stay, loosened to moderate cancellation and put rates up. 

Lending just tightened way up.Longmont definitely has opportunities for house hacks, there are duplexes to be found.

In lieu of  other lenders around me closing their doors, our criteria and requirements have tighten up a bit yet we are originating in FL and TX.

If it will put a financial or emotional strain on you then you should hold off.

You are already a little short on the 1% rule, and once you tighten your numbers I don't think this is gonna be a great deal.