Sentences with phrase «total debt service ratio»
* The maximum gross debt service ratio will be limited to 39 per cent and the maximum total debt service ratios will remain at 44 per cent.
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This is known as Total Debt Servicing Ratio, which is also known by the acronym TDSR.
Mortgage Default Insurance Mortgage Life Insurance Offer To Purchase Open Mortgage P.I.T. Prepayment Charge Prepayment Option Principal Refinance Renew Term Title Total Debt Service Ratio
TOTAL DEBT SERVICE RATIO Percentage of the your gross income that will be used for monthly payments of principal, interest, taxes, heating and all other outstanding loans and debts.
But there's more, Jim Flaherty said at a press conference in Ottawa Thursday: His government will set a $ 1 - million cap on the value of homes eligible for government - backed insurance and will restrict all would - be borrowers from mortgage insurance if their maximum gross debt service ratio exceeds 39 per cent and their maximum total debt service ratio rests above 44 per cent.
Mortgage Default Insurance Mortgage Life Insurance Offer To Purchase Open Mortgage P.I.T. Prepayment Charge Prepayment Option Principal Refinance Renew Term Title Total Debt Service Ratio
TOTAL DEBT SERVICE RATIO Percentage of the your gross income that will be used for monthly payments of principal, interest, taxes, heating and all other outstanding loans and debts.
They'll be calculating both your GDSR (gross debt service ratio) and your TDSR (total debt service ratio).
For many home buyers, paying down and closing a credit line may improve the borrower's total debt service ratio, a key metric that lenders use when deciding whether to approve a loan.
Plus, all your consumer debt, loans and housing - related payments can not exceed 40 % of your gross taxable income — this is your Total Debt Service ratio or the TDS.
Total Debt Service Ratio (TDS): The percentage of gross monthly income required to cover the monthly housing payments and other debts, such as car payments.
Your Gross Debt Service Ratio must be less than 39 % and your Total Debt Service Ratio can not be higher than 44 % based on the higher of the Bank of Canada qualifying rate or the customer «s mortgage rate.
The total debt service ratio (TDSR) is the percentage of gross annual income required to cover all other debts and loans in addition to the cost of servicing the property and the mortgage (principal, interest, taxes, heat etc.).
This credit or debt capacity is referred to as your total debt service ratio.
Currently, lenders use a Gross Debt Service Ratio (GDS) / Total Debt Service Ratio (TDS) calculation to qualify for mortgage financing.
While the short answer is TDS (the total debt service ratio), the mechanics of how a rental property is assessed when applying for a mortgage are important.
The remaining $ 25 shortfall will be added to your debt — thereby increasing the debt portion of your total debt service ratio.
This figure is your Total Debt Service ratio (TDS).
One is the Gross Debt Service Ratio (GDS), the other is the Total Debt Service Ratio (TDS).
Lenders use two main debt ratios to qualify you for a mortgage: the gross debt service ratio and total debt service ratio.