Sentences with phrase «mortgage debt service costs»

While the official policy of the Big Banks and CMHC is that borrowers should have mortgage debt service costs no greater than a third of their income, or restrict home loan borrowing to less than four times their annual take, comments like these make a lie of it.

Not exact matches

In addition, the mortgage market looks set for a particularly heavy year of renewals in an environment where debt - servicing costs are already rising at the fastest pace in a decade.

As the rouble falls, the cost of servicing its mortgage debt will rise.

If you retire with debt, whether it's a mortgage, car loan, or credit card debt, a portion of your income must go to debt servicing costs and that leaves less money to live on.

* The cost to pay the mortgage, your heat and hydro, the condo fees (if applicable) and property taxes can not exceed more than 32 % of your gross taxable income — this is your Gross Debt Service ratio, or the GDS.

The gross debt service ratio (GDSR) is the percentage of the total of annual mortgage Ratio (GDSR) payment (principal, interest, taxes, heat and half of condominium common element costs, if applicable, plus secondary financing payment and ground rent if applicable) relative to annual household income.

With interest rates on the rise, Moody's notes that mortgage - servicing costs are likely to climb because nearly half of outstanding mortgages are due for interest rate renewals within a year, adding further strain on households» debt - servicing capacity.

In an effort to figure this out, loan providers will want to take a look at gross financial debt service ratio (GDSR), the number of your gross monthly income you can use for housing costs (mortgage payment, utility bills, as well as house taxes).

The GDS: Gross Debt Service is the percentage of the borrower's income that is needed to pay all required monthly housing costs (mortgage payments, property taxes, heat and 50 % of condo fees).

The first calculation, your Gross Debt Service Ratio (GDS), requires your monthly housing costs (mortgage principal and interest, property taxes, and half of the monthly condo fee if you are purchasing a condominium) should not be more than 32 % -39 % of your gross monthly income.

In addition to free credit counseling and low - cost debt management services, ACCC offers reverse mortgage counseling sessions that provides helpful reverse mortgage information along with the certification required for certain reverse mortgage products.

A: The health of the local job market, foreclosure rates, housing inventory, debt - to - income and mortgage - servicing - costs - to - income ratios are all taken into account when compiling each report.