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When you decide to buy a home, begin by getting organized. Before you call an agent, or a lender, gather the following items: several of your most recent pay stubs, checking account statements, a picture ID, your Social Security Card. Make a list of what you pay monthly and know what your remaining balance is on open accounts including the payoff of the house you currently own (if you do).
Your next step is to talk to a Realtor or a lender. Choosing a professional you trust and are comfortable with, is crucial. A referral from a friend is a good place to start. If you "shop" for a lender do not give each one your social security number.
If you aren't sure what you should spend on a house payment, a Realtor or loan officer will help you. If you aren't ready to visit with someone in person, check the web for a mortgage calculator. Or cut and paste the following link: http://www.arkvalleyrealestate.com/tools.php it will take you to a site where you can calculate without going to a lender site. (no tracking) When you figure out your payment, it will be time to figure out your down payment, if needed, or whether or not you qualify for an assistance program. Next, don't forget you will be expected to pay your fare share of the closing costs, and pre-paid's. These expenses may be negociated, but you should get an idea of what it cost to close a loan from the lender or Realtor.

REAL ESTATE 101 Shopping for your first home