What Do I Need To Buy — A Home

: While 20% is the traditional standard to avoid Private Mortgage Insurance (PMI), many 2026 programs allow as little as 3% for conventional loans or 3.5% for FHA loans.

: Budget an additional 2% to 5% of the purchase price for legal fees, taxes, and appraisals. 2. Essential Documentation what do i need to buy a home

Before viewing properties, you must establish a strong financial profile to qualify for the best available mortgage rates. : While 20% is the traditional standard to

: Most conventional loans require a minimum score of 620. In 2026, some lenders are moving toward a more holistic view of "financial patterns" (like rent and utility payments) rather than just a three-digit score. : Aim for a DTI at or below 43%

: Aim for a DTI at or below 43%. This is the percentage of your gross monthly income that goes toward paying debts.