[15fsg546rge1rrheljh45hjr90459ty3]

can I get? What kind of mortgage should I get? I like to live comfortably. How much of a down payment would be required? My credit score is 875 (something around there). I live in New Jersey. I'm 27 years old. Not sure what other variables are important, but what do you think?

[Ed D]

The main thing lenders look at is your debt-to-income ratio.The best thing to do is to get a pre-approval letter from a lender. That will tell you how much you can get a mortgage for from that lender.

[gcason]

Typically, with good credit like you describe, you can a mortgage for 2.5 times your yearly income. So, at 40K, you'd qualify for a 100K mortgage.

[vintageohana]

It doesn't matter how much income you make, the lender looks more closely at your debt-to-income ratio. If your debts equal more than 27% of your income, beware - it will be more difficult to get approved for a loan.You should ask some family and friends for referrals for a good real estate agent and then sit down and talk to one. They'll go over the details of how much you should be pre-approved for or what you need to do in order to become pre-approved. You need to do this in order to have the best chance of having an offer approved on a home you find.Your credit score looks so good that you would probably be approved for more than 2.5 times your annual income. If you are looking at an FHA loan, new guidelines require you to put down a 3.5% down payment on your home so start saving up now.Good luck!