Jessie Oleary

If you know your credit is poor, save a lot towards a down payment. It is common for people to save between three and five percent, you'll want to have about 20 percent saved as a way to better your chances of loan approval.

If a lender approves you for more funds than you can comfortable afford, you will have some wiggle room. This could cause financial problems.

A seller may accept your offer if you have a home. It shows them that you have been given approval. If it is higher, the seller may want to demand more money.