Credit & Cash Flow Check: Dive deep (I mean DEEEEP) into your financials. What's your credit score? Are there any inaccuracies in your credit report? Tidying up your credit history is crucial, as it can significantly impact your mortgage options and interest rates. Lenders will also look at how much revolving debt you have to calculate your debt to income ratio. 

Income vs. Expenses: Scrutinize your current income and monthly expenses. How much debt do you currently have (use this debt calculator)? How much are you spending on housing right now? Can you afford to increase this amount? It's about finding that sweet spot for your future mortgage payments. 

Mortgage Calculator Magic: Use a mortgage calculator to work backwards and estimate how much house you can afford. Include taxes, insurance, and PMI (if you're putting down less than 20%). Play around with different down payment scenarios – but keep it realistic, nothing less than 3.5% (unless you qualify for a VA loan or some other type of zero down payment program). 

Credit Care: Ensure your credit report is spotless. Resolve any discrepancies and continue to pay your bills on time. Reducing existing debt is key to boosting your credit score and securing a favorable mortgage. 

Comfort Zone: Ultimately, it's about what you're comfortable with. Don't stretch yourself too thin. Homeownership is a big step, but it should be a joyful one, not a financial burden.