IF POSSIBLE - Put down 20 percent on a home. Even if you can get a larger loan, don't risk it. Buy within your means. There are still [people] out there doing no income verification loans. Bottom line—buy what you can afford.
Check your credit. You might find out that there is a mistake or false information on your credit. The sooner you find this out and take care of it the better.
Clean up your credit. If you have a delinquency clean it up. Check your report once it's been cleaned up because sometimes the credit agencies neglect to update your credit report.
Be prepared. Get all your financial records such as two years of tax returns in order and have them handy to make the loan process go smoothly.
Liquidity is key. Don't go buy a car before you plan to purchase a home (even if you can return it). Having cash helps to show you are qualified to buy at the price point you want.