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 Mortgage Calculator
According to the CMHC & most lenders, they want your GROSS DEBT SERVICE(GDS) to be less than 32%, and your TOTAL DEBT SERVICE(TDS) to be less than 40% of your income, in order to qualify you for a mortgage.
Knowing that the GDS=32% & the TDS=40%, and you know what your family gross income is, so with a little math, you can find out the figure that represents PIT (principal, interest, taxes) that the bank feels you can afford!
This calculator will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying .
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Complete the fields below and click Calculate Now. To view the results of each calculation, click on the various tabs. To email yourself a copy of the results, click the Receive this Detailed Analysis link.
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Results
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Receive this Detailed Analysis
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Your Monthly Payments
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| Loan Amount: |
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| Loan Insurance (
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| Total Loan(Mortgage) Amount: |
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| Principal & Interest: |
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| Homeowners Insurance: |
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| Property Taxes: |
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| Condo Fees: |
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| Monthly Loan Insurance (%): |
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| Total Monthly Payment: |
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