Ready, willing and ABLE, is an axiom common in the real estate arena. Although your comment says you have the money for the down payment on an FHA loan, you didn't say at what price, nor how much. Nowadays it isn't about having just the 3.5% for a down payment, it is about having that plus your closing cost -- even if you plan to ask the bank to credit or "pay" for you closing costs. I have a client who thought similarly as you seem to be implying, that they might ask the bank for that closing cost credit; we got it, but, the bank required the buyer to pay for all the expenses and then got a credit back in escrow (it is like a reimbursement for the payment being made). So, if you don't have the money that you'll need for everything, you may not be entirely "READY" or "ABLE" unless you buy a less expensive house and somehow make the money you do have (oh, and be sure you have it in the bank for at least 3 months because they'll check on that too), work for both the down payment and the closing cost -- even if and when you get that credit back from the seller. Oh, and your closing costs typically will run about 2.5 to 3.25% of the price -- with mortgage insurance and all the typical costs to purchase, points, inspections, escrow, title, pre-paid items, etc.