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This is not a question that you should leave up to your lender to answer for you. Your loan officer only sees commission. That's why they don't ask you questions like, "What are your financial goals?" "How much do you plan to save each month?" "Do you have children or plan on having children?" "How do you plan on saving for their college tuition?" "What about your retirement?" Do you get where I'm going? They are not concerned about your overall financial well-being; they only make sure that you are able to make those payments each month. So it is up to you to identify and write down your financial goals along with strategies by which to accomplish them; including saving for a down payment. Your next plan of action should include the costs of reaching your financial goals, such as saving $XX each month for retirement, or investing 5% of your income to save for college tuition, etc. What you have left available is what should be used for housing expenses (mortgage, taxes and insurance--which should not exceed 28% of your monthly income).
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