Forgot to add, right now is the buyer market, most of the time the seller will pay for closing cost. Sometimes they don't, it just all depends on the negotiation part. In my case, I did not have to pay ~$6k for my closing cost, the seller paid all. If you buy the house through real estate agent, you won't pay them anything either. They will get paid 3% off of the selling price, and that comes from the seller. Basically the seller pays his or her agent, your agent, and closing cost (this one is maybe). Another thing you need to do is your bank account. Making sure you prep your bank account at least 6 months ahead of time. They will ask for your bank statements for the past 6 months, and review them. Oh, ARM (Adjustible Rate Mortgate) is very dangerous to deal with. You have to be very careful because the interest rate will be much lower than other types, but the interest rate will be varied depend on the market rate after a certain fixed time. Even with ceiling and floor set, it is still very dangerous. Loan officer could mislead you into it.