wat mortgage would i be approved for

Your question and answers appear to put you in a Utah Housing mortgage but many other criteria must be discovered. Call me at: 801-441-2336Ron Aguilar, NMLS 201859

Do you have VA eligibility by any chance? You don't have enough of a downpayment, unless your get a VA loan, and USDA rural loan (property limits are mostly under $200,000) or go through Utah Housing. FHA requires 3.5% of your loan amount as a downpayment ($10,500 on a $300,000 loan) and Conventional loans require 5% ($15,000 on the $300,000 loan amount). As for income, your level of debt shouldn't generally exceed 43% (but it can go higher with good credit, low debt, and assets). At this point you should't have more than $2,078 in monthly debt. Subtract your car payment and other debt on your credit report, and you have the amount you should pay on a house. Assuming your other debt is about $500, you can afford a house payment of $1,600. Subtract maybe $300-$400 to go towards taxes, insurance and mortgage insurance, and you're looking at a loan amount of maybe $240,000 ... This is a fairly conservative approach.

There are MANY different aspects that come into play when determining your ablity to qualifiy for a particular mortgage. Your best bet is to contact a Mortgage Professional who can walk you through the pre-qualification process to determine just what it is that you might qualify for. Please feel free to contact me directly at 877-262-4050 and I'd be happy to put my 27 years of Mortgage Lending experience to work for you!Thanks,Kirk AndersonSr. Mortgage Consultant NMLS #459105