Mortgage question! coborrower?

Me and my husband are looking to buy a house. The only problem is the income level. I know that they will not lend more than 3x your yearly income. Well, we are used to paying $ 600 a month in rent and all the other bills involved with a house but last year we only made about $ 20,000. We just sucked it up and paid the money to live somwhere nice. The mortgage we are looking at is about $ 100,000 so we need a co borrower. My mother makes good money at $ 39,000 a year so that would put us safely in our range. We also have a nest egg of about $ 4500 saved and the $ 8000 tax break we would get would help too. I guess the question is, is it a smart move to ask my mother to co borrow for our house? She is looking to build some credit too. And, when we refinance in 2 years or so would it be possible to take her name off the house completely?We have land as collateral also.

I guess what I am asking is, since we are used to the payments, have money saved away, and own the land is this a smart idea?

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