I bought my first house a year ago next month
I put nothing down, got a good APR still (yay for credit unions), on an 80/20. My biggest expendature was renting hte Uhaul. As long as you have good credit and low revolving debt, you should be able to get a house no prob (as long as you have a steady job). Go see a loan officer, they're always helpful, even if you're just in the prelim stages, they can pre-approve you for X amount of $, so you know the ballpark you can afford.
I figured I'd not be able to afford a house more than 120k or so, but you have a big advantage as a first time buyer with other loan options u don't get later in life. I was actually approved for almost twice that, so if u meet the pre-reqs above, you can get much more than you'd think, I sure did (but opted to find a happy medium so I could have some $ for car toys :P hehee). Get as much as you can while you can, before the bubble bursts.