You need enough cash on hand to cover immediate costs and reserves to satisfy lenders.
: A deposit (typically 1–3% of the price) paid when you make an offer to show you are a serious buyer. things needed to buy a house
: Your total monthly debt payments (including the new mortgage) should generally not exceed 36–43% of your gross monthly income. You need enough cash on hand to cover
Lenders use "The 4 C’s"—Capacity, Capital, Credit, and Collateral—to evaluate your eligibility. things needed to buy a house
: 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