Hausee — Canada's Home Buying Co-Pilot

Your step-by-step digital co-pilot to navigate the complex Canadian home buying process. Educate yourself, simulate detailed financial scenarios, match with pre-vetted real estate agents, and receive cash back.

How to Prepare Financially to Buy a Home in Canada

Preparation is the key to securing a competitive mortgage rate and navigating the home buying process with confidence. Use our four-step readiness blueprint:

Canadian Home Buying Readiness Checklist:

  • 1. Optimize Debt Ratios: Lenders assess your Gross Debt Service (GDS) and Total Debt Service (TDS) ratios. Keep total housing costs under 39% and total debt payments under 44% of gross income.
  • 2. Safeguard Your Credit Score: Aim for a credit score of 680 or higher to access prime rates. Avoid applying for new credit accounts, financing furniture, or leasing cars during your home search.
  • 3. Account for Closing Costs: Set aside 1.5% to 4% of the purchase price for land transfer taxes, lawyer fees, inspections, adjustments, and title insurance.

Test your purchase preparedness with our Rent vs Buy Simulator to map out exact cash requirements.