+1 to it depends on what to do with your cash. To get the best rates additionally, you will  need at least 20% down in a trade in or cash so you will not need PMI Insurance. For now, I would keep my cash position as high as possible. When you start your mortage process, it looks good if you have cash on hand, It shows you can manage money and save. You will also then get a feeling from the LO on possible directives for some of your cash. Good luck!