Hey, congrats on your first home purchase!
With the line of work im in, termite and pest control, i deal with alot of real estate agents and do alot of termite and moisture inspections for real estate transactions. and being a homeowner myself, i can tell you its a great feeling being a homeowner.
Having said that there is no 'set' formula for determining a good buy based on assesment value. it all depends on the appraised value and comps in the surrounding area for similar homes. and remember its a buyers market right now.
Secondly, agents are a trying to get the sale done, and the good ones will do what ever they need too to look after your best interest. Yes they work on commision, but the difference between the asking price and the accepted offer/selling price is only going to be a few hundred dollars in or out of their pocket.
Third, YES!! get a certified home inspector. We have a couple around here who are highly regarded because they are very though. most of the stuff on a home inspecton reports are minor cosmetic things, but a good inspector might reveal something that needs to be addressed before you move in. check with several different agents and see who they would use if they were buying a house, but wouldnt want coming in if they were selling their house
. as far as the termite and moisture inspection, its required in most states and the fee is on the sellers side, and by the way when you get your termite report findings and you have any questions, let me know, ill be more than happy to help anyway i can.
Fourth, the percentage that lenders are looking at has narrowed alot recently, do to it being a buyers market and all the forclosers, sorry but i dont know what that percentage range is right at the moment. but my motto is dont bite off more than you can chew comfortably right now. lots and lots of people get more house than they can afford with these 2,3,5 year arms or interest only loans and when that 2,3 or 5 years comes up they cant afford the payment. get what you can afford comfortably right now, and if you make more money 2-3 years later you can sell and get more house, or add a nice pool or addition or whatever.
Lastly, your closing attorney or title/mortagage company can give you every fee your gonna pay, itemized. this is something you need to really shop around on. alot of these companys charge alot of bogus fees. get total itemized quotes from several companies and compare. hope that was somewhat helpfull, and again congrats on your purchase. oh yeah, unless its a new or newer house get a home warranty, about 200-300 for a year to cover major repairs of appliances, hvac, electrical and so on. sometimes the sellers offer it or will if it means they have a deal or not. good luck.