If you are a first-time home buyer, it’s important to find out what kind of mortgage you can afford even before you start looking. Once you know how much you can put down, contact a bank or mortgage broker about getting qualified. Based on personal information such as your income, debt and assets, you can receive a pre-approved mortgage, including an interest rate commitment for a set length of time. Once you receive a pre-approved mortgage, you can confidently purchase your home.