Smooth sailing getting preapproved? How much cash should I have?

[mccallb]

I"m gearing up to buy a house with an FHA loan and want to know if there are any other gotchas I need to worry about.   I am looking to buy a 215K house, and have fico scores of 620,640 and 660. (Pulled from here). I do have an IRS installment agreement and have 3 months worth of payments on that should they ask.  All debt included (house, et al) will be 40.2% DTI.

I want to do 3.5% down which is $7525 down.  I want to have the maximum for closing costs paid by the seller which is common here.

I have about 10K in cash.  

Does anyone see a problem with getting this loan approved or are there any other factors I should look at?  Will 10K total be enough, or should I have more cash on hand?

Thanks!

[BrianB_The_Loan_Professor]

That is enough for FHA Having more cash is always a good thing

The only thing I see that may be an issue is the IRS payment plan being so recent - I have seen underwriters require a full 12 months of payments

It was a weaker file - I have seen stronger files where there are less than a year in payments fly through without issue

Just a heads up 

B