FHA financing will be the most aggressive as far as debt to income ratios are concerned. i have closed deals with 42% front ratios (housing payment divided by your gross monthly income) and 56% back ratios (total debt to income ratios). It is also more linient with credit scores.
Conventional financing, it is harder and harder now to get approval over 45% total debt to income ratios, especially with lower down payments (almost impossible to get MI). if you would like to discuss your specific situation, please email me at email@example.com.
I work with a great, local lender that can work with us to get you the best answer to this question. It is a combination of income and debt to income along with an ever-changing list variables. A good rule of thumb is that your monthly income should be about three times what your house or rent payment is. I recently closed a VA sale of $179,900 with no money down and their payment was around $1300 per month for the mortgage, taxes and insurance payment.
Call, text or email me. I would love to earn your business.
Barry Hinshaw, Realtor
Your debt to income will factor in as well.
This is never a cookie cutter answer and it can vary with each buyer and buyers situation.