If you are looking to buy a home, you should look to see how much money your lender requires you to have on hand. Your savings, debt and annual income will affect the type of loan you are looking to get. Most lenders allow for a debt-to-income ratio of about 36% or less. Even though lenders allow for this large of a ratio, you should take into consideration your savings for your own benefit. When purchasing a mortgage, make sure you have savings for your retirement, education or emergencies. You have to look out for your own well-being when it comes to your home finances.