Tally up your fixed monthly expenses to determine how much you have leftover for a mortgage payment.

Just because a lender is willing to loan you a fortune doesn't mean you should take it. Buying more home than you can afford can quickly lead to financial trouble. As a rule of thumb, your mortgage payment should be less than 28 percent of your gross monthly income. Besides your mortgage payment, be prepared for the additional costs of homeownership, such as insurance, property taxes, utilities and maintenance. You may want to scale back the size of the home you're looking for in order to bring the whole package in line with your budget.

• Calculate how much of a mortgage you can afford

• Tally your expenses before buying a home

• Learn the monthly costs of homeownership

• Get tips for buying your first home in FrontDoor's First-Time Buyer's Guide

• Learn what moves to make and what mistakes to avoid when buying a home

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