Why not visit with any qualified loan officer(s), see exactly what your budget can handle and check your credit score, are now current with paying down debt, getting rid of the old, etc.,--FHA loans do require a minimum credit score of 620 and 3.5% down. Also consider--lenders have their income v. debt criteria for qualifying for the amount of a mortgageâ€”oftentimes requiring that housing costs are not in excess of one-third of gross income in addition to a stipulated income v. overall debt-ratio. What lenders donâ€™t know are borrowersâ€™ non-debt spending habits, present and anticipated. You, the borrower, need to consider the economic factors of your lifestyle that would impact on your individual comfort level of affordability. A mortgage outside your budgetary constraints can dramatically alter your overall living conditions. So, be sure to factor micro and macro economic concerns into your mortgage amount deliberations--again visit any qualified loan officer(s).