I am planning on buying a townhome this year. I'm going to shop between BB&T, Wells Fargo and the Builders Lender my middle Fico is 656 and I'm getting a rate from all of them (by just pre-qualification with no credit check) of 3.25% FHA. I am buying a new construction and it takes about 4 months to build. By the time I get pre-approved I will have between $10000-$11200 in savings with 2% about $5400 for earnest money. The estimated closing costs I've gotten from these lenders (by just talking) with closing costs credit is about $13k. So my question is when I get pre-approved do I need to have the full $13k in savings or will they be okay with knowing I will have it by the time we close? Should I pay the earnest money before pre-approval? I dont know if it's okay to take out about half the money out of my savings.