How much how of a mortgage can I qualify for with 55k income?

no name g · Yahoo User

I have very minimal debt (my auto was a gift for graduation and I don't have much other debt) and my income is right around $55k per year. I don't have that much saved up for a down payment as I just finished my undergraduate degree this past May. How much home will I be able to afford? How much of a loan should I be able to get approved for? My credit score is around a 720 and my income will increase substantially in the coming years.