What Are Requirements For Buying A House May 2026

How to buy a house: Your step-by-step guide to buying in 2026

To verify your financial profile, lenders will require a comprehensive set of legal and financial records:

: This compares your monthly debt payments to your gross monthly income. Lenders typically prefer a DTI of 43% or lower , with some suggesting a "28/36 rule" where housing costs don't exceed 28% of your gross income.

: Most conventional loans require a minimum score of 620 , though FHA loans can accept scores as low as 580 with a 3.5% down payment. Higher scores (740+) typically unlock the best interest rates.