multi prêt
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Contact me for a mortage loan calculation in Montréal
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Message from your Multi-Prets agent

“The only way I can understand your needs is by listening to you”.

I wish you a pleasant visit and look forward to serving you.

Sincerely,

Alden Morris-Cyr, CHA
Affiliated Real Estate Agent
Mortgage Consultant
 
Refinancement immobilier et prêts rénovations

Mortgage loan calculation

To be eligible for a mortage loan, two calculations are used. Firstly;

  • The Gross Debt Service Ratio (GDS) should not be higher than 32%. This is the ratio of your gross household income to your mortgage payment, taxes and energy costs as well as half of condominium fees where applicable.
  • The Total Debt Service Ratio (TDS) is 40%. This calculation is necessary if you have other debt obligations in addition to the mortgage loan (car loan, credit cards, line of credit, etc). This is the ratio of your gross household income to the mortgage loan, taxes, energy costs and other loans (car loan, credit cards, line of credit, etc).
  • Generally speaking, you should not exceed any of the above ratios.
  • You may however still be eligible even if you exceed or think you exceed these ratios (case by case). Please contact me for additional information.