Look beyond the mortgage payment
Include property taxes, insurance, utilities, maintenance, possible HOA expenses, moving costs, and the cash needed after closing. A purchase that works only when nothing goes wrong may be too tight.
Protect liquidity after closing
The down payment should not use every available dollar. Decide how much cash should remain for emergencies, repairs, job changes, and the first year of homeownership.
Measure the tradeoffs
Compare the purchase with retirement contributions, debt reduction, education goals, and other priorities. The question is not only whether a lender will approve the home, but whether the home supports the rest of the plan.