Things Needed To Buy A House Apr 2026

: Fees for legal work, appraisals, and taxes, usually ranging from 2% to 5% of the home's purchase price.

: Your total monthly debt payments (including the new mortgage) should generally not exceed 36–43% of your gross monthly income.

Lenders use "The 4 C’s"—Capacity, Capital, Credit, and Collateral—to evaluate your eligibility. things needed to buy a house

: This is the portion of the purchase price you pay upfront. While 20% is often cited to avoid private mortgage insurance (PMI), many buyers put down as little as 3% to 3.5% .

: 30 to 60 days of transaction history for all checking, savings, and investment accounts. Identification : A valid driver's license or passport. Things needed to buy a house? : r/PersonalFinanceCanada : Fees for legal work, appraisals, and taxes,

You need enough cash on hand to cover immediate costs and reserves to satisfy lenders.

You must prove your financial health with the following paperwork: : This is the portion of the purchase price you pay upfront

: Lenders often want to see that you have several months of living expenses saved beyond your down payment to handle unexpected repairs or job loss. 2. Loan Qualification Requirements