Hello Tom,
You should get with a Lender of your choice, and get a *Pre-Qualified Letter" from them telling you what the amount of a loan they can qualify you for; then search for a Home for that price range with your deposit . SO if you are Pre-Qualified for a loan amount of $185,000 for example, then if you add your $60,000 down, you could look at homes in that range..$245, 000 as an example. Usually 20% down these days will work, so with $60,000 you will be in good shape to negotiate!
Come see me Sunday 2pm-4pm at 6020 NW 162nd, in Wynchase, Just North of Gaillardia, if you have time! I will be there at my Open House. Just reduced this New Home to $209,900, and may suite your needs! See ya then.
NOTE:
*Pre-Qualified means the Lender did all the paperwork(for the most part) as if you were getting a loan.They looked into the details of your income, expenses and debt to income ratios...and Pre-Qualify you as a crediable Buyer. (A Pre-Approval, only means they agree with what you tell them, and without verification say if it pans out, you may get a loan) The Pre-Qualified Letter is much better for your Buying power of negotiating! See my website for detail. - Sat Dec 5 2009, 11:29