The other aspect of the process can be disappointing, but still very useful. Suppose you discover that you are spending only on necessities or that tightening your belt would result in savings of only $25 a month. You may not have all the same options or as much flexibility, but you still gain some valuable knowledge.
Now you know that getting an adjustable rate mortgage loan would most likely be an unacceptable risk. You may even want to rethink the price range of the home that you should buy. Any unexpected expense is going to cause a serious problem. You have no cushion. Knowing this could allow you to buy a home that you can keep.