<prompt> Human: Hi yall...I have posted on here before but my husband and I are hoping to purchase our first home this summer. We are looking to apply in May or June. -Im 23 and DH just turned 25.-Credit Scores: 720 mine 739 DH-2017 combined income: 54k...although with my hubbys new job same field, just a higher position we are making much more..DHs monthly income is about 6500 dollars right now. I did a job change that wasnt related to my previous field so I doubt they will count my income: -Downpayment: We have 6300 saved, which is 3.5 percent of what we are hoping our maximum budget can be 180k. My father also decided he generously would like to gift us 3-5k for the home purchase above and beyond the 6300 we have saved-Monthly debt: 250 dollars...130 of is our car payment, the rest is for 2 credit cards. We plan on doing an FHA loan. FWIW, we are trying to buy in an area of about 100k people and the medium home price is about 170k. Is the amount we have saved up too low?? We will have more money in our bank account, but we have the 6300 specifically saved up as of now. Do we have any change of getting pre-approved???Assistant: 20 down on a 170,000 house is 34,000. You have 10,000 with the gift from your father. I do not think you have enough saved to buy a house this price.Human: But FHA only requires 3.5 percent down...unless its changed and I was unaware :  <response>: Yes, but the goal shouldnt be to aim for the minimum. It will end up costing you WAY more in the long run 