When your credit report is in order your next step is to contact a lender and get pre-qualified for a loan. Normally this is a free service, but always ask. The lender may be your bank, someone recommended by a Realtor, or maybe a company advertising a particularly attractive rate or program at the time. Having a lender pre-qualify you does not obligate you to use that company.

A lender will ask for your monthly gross income, how long you have been on your particular job, how long in your field, a list of your bank accounts and other assets along with a list of your monthly reoccurring debts with more than 6-10 months to pay. Tell the lender the whole truth. There is not point in "burying" a detail that will later come back to haunt you.

Based on the information you provide, the lender will tell you how much money you can borrow; that amount varies based on the type of loan you obtain. For example, you may be able to borrow more with an FHA loan than a conventional; you can borrow more with a 30 year conventional than a 15 year conventional loan. An adjustable rate mortgage may allow you to borrow even more. Explore these possibilities with the lender.