Mortgage Calculator

Buying a home usually means getting obtaining a mortgage loan. You will find a useful mortgage calculator below that will give you the monthly payments that you could expect given your particular financing situation.

A manageable mortgage payment can also be determined by calculating Gross Debt Service Ratio (GDS) and Total Debt Service Ratio (TDS).

GDS looks at the ratio between gross annual income, and the annual carrying costs of a mortgage, plus taxes, utilities and 50% of condominium fees, if applicable. To meet the GDS qualification, annual carrying costs should not exceed 32% of gross annual income.

TDS examines the ratio between gross annual income and total annual debt costs. These costs include: mortgage payments, taxes, heating, and payments on any other debts owed, such as personal loans, credit card debts and others. To meet the TDS qualification, total annual debt costs should not exceed 37% of gross annual income.

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Mortgage Calculator