How hard is it to get approved for an FHA loan?

I'm a 23 year old male. My credit score is about 700. I have no debt of any kind, no car payment, no credit card debt, etc. I am in the military and make 38000 a year before taxes but will be getting off of active duty soon, but will be in the reserves. I will be making roughly what I make now once I'm... show more I'm a 23 year old male. My credit score is about 700. I have no debt of any kind, no car payment, no credit card debt, etc.

I am in the military and make 38000 a year before taxes but will be getting off of active duty soon, but will be in the reserves. I will be making roughly what I make now once I'm out from part time work, the reserves, and the GI bill, etc.

I am only seeking about 40000-50000 to buy a foreclosed property that is in decent shape (houses are cheap over here anyway)

I'll have about 7000 saved up by the time I find a house. I've already done the pre-qualification. What are my chances of getting fully approved?

Also, will the banks ask me when I'm getting out of the military? I'm not interested in doing a VA home loan.
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