To buy or not to buy

I was approved for a mortgage with no down payment. House that I want is like $220,000

It would be at 7.25%

Payments will be $1700-$1800 I’d imagine

I’m renting now for $1,600 in a house that I really like.

I just turned 40 and I just feel like I need to start having some kind of investment to put my money into.

Is buying now and refinancing later worth it?

Or just keep renting and wait for the right time? (Who knows when that will be)