Your housing payment is most likely going to be your biggest expense each month. Therefore, it makes the most sense to find the cheapest mortgage you possibly can. You’ll want to find one with a low interest rate, and not get one for more than you need. Check out this post by Betsalel Cohen at Bills.com for tips on getting an affordable mortgage:
-Check online and shop around for quotes. Be aware- rates can change daily
-Check your budget. Then check it again- make sure you KNOW how much you can afford each month.
-Assemble all the documents necessary- and then some- to show the lender that you can repay. A better credit score and a more responsible buyer = lower interest rates for you.