Do you think we would be approved for the mortgage?

Me and my wife are contemplating buying a house soon in Wichita Ks.
I was wondering if anybody with mortgage lending experience could give us a general idea if we would be approved or not after taking this information into account.
Wichita households median income is 44k a year and median income for family is 57.
We are 25 years old and make about 45k per year pretax right now. The only debt we have currently is 10k on a car loan and no other debt. Out credit scores are 700 and 720(fico) and we were considering borrowing about 110-115k with about 12k down payment for a total house price of about 120-125.

Could you please give us a general idea of this is good enough to be pre-approved?
Thanks in advance

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