Here are somethings to consider when thinking of buying a home.
Learn & Follow the 3Cs.
Location may be the buzz word in real estate, but capacity, character and collateral are the buzz words with mortgage financing.
Capacity - your financial ability to repay your loan;
Character - an examination of your credit history and history in paying previous debts; and
Collateral - the value of the home must appraise for at least the amount of the loan.
I highly recommend that you talk to your local bank to see where you are with the 3 C's before you go home shopping