1) The target price of your home should be 2 to 3 times your income
2) Approximately 27% of your monthly gross income can go to support a monthly payment.
3) Pre-approval means actual loan approval vs. pre-qualified which means you have only been qualified but not approved.
4) No more that 28% of your gross income should go for housing.
5) No more that 36% of your total debt should go for housing
6) Your fico score should be at least 620 for proper approvals, and your fico score is located on the credit report - if you have any open credit accounts then it is best to close them to improve your fico score, leaving open credit accounts, no longer being used, takes your score down.