Getting pre-approved for a mortgage is based on various factors such as your income, existing debts, and the specific guidelines set by the lender. Lenders typically evaluate your ability to manage a mortgage by looking at your total monthly debts, including the expected mortgage payment. They prefer this debt-to-income ratio to be 43% or less of your gross monthly income (before taxes). However, it’s worth noting that some lenders may allow a higher debt-to-income ratio, such as up to 49.9% for conventional loans or up to 54.9% for FHA or VA loans.  For example, if your monthly income is $4,000, the lender would prefer your total debts, including the future mortgage payment, to be $1,720 or less. Keep in mind that different lenders may have varying criteria, so it’s essential to explore options from multiple lenders to understand their specific requirements. Additionally, making a larger down payment can sometimes help improve your debt-to-income ratio if it’s slightly higher than the preferred range. To get a precise understanding of what’s needed based on your unique financial situation, it’s advisable to consult with a mortgage professional.