Mortgage Calculator

GDS (Gross Debt Service) Ratio: Calculated by adding mortgage payment, property taxes, and uilities (heat & light) and dividing by the gross income of the Purchasers. Maximum is 32% to qualify.

TDS (Total Debt Service) Ratio: Calculated by adding mortgage payment, property taxes, utilities (heat & light) and all other monthly obligations (car payment, credit card payments, lines of credit, and other living expenses). Maximum is 40% to qualify.
 
Required
Term In Years:     
Interest Rate:      %
Cost of Home:  $
Down Payment:  $  
Annual Insurance:  $  
0.43%of Cost
Annual Property Tax:  $  
1.2%of Cost
Monthly Income:  $
Monthly Debt:  $
Optional
Gross Debt Service Ratio (GDS):     
Total Debt Service Ratio (TDS):     
Condos Fees:  $

Results 		  Receive this Detailed Analysis

Your Monthly Payments
 
Loan Amount:    
Loan Insurance ( %):
Total Loan(Mortgage) Amount:
 
Principal & Interest:    
Homeowners Insurance:    
Property Taxes:    
Condo Fees:    
Monthly Loan Insurance (%):    
Total Monthly Payment:    
 
Income Needed to Qualify for the Mortgage
 
Total Monthly Loan Payment:  
Total Monthly Debt Payment:  
Monthly Loan Insurance (%):  
Qualifying Income of % GDS Ratio:  
Qualifying Income of % TDS Ratio:  
 
What You Can Afford
We are using the % ratio.
Cost of House:  
Down Payment:  
Loan Value:  
Monthly Principal & Interest:  
Monthly Insurance:  
Monthly Property Tax:  
Monthly Condo Fees:  
 
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
Monthly Rent: $
   No. of Years you plan on keeping the home:
Annual Rental Increases:   %   Yearly Appreciation on the Home: %
Monthly Renter Insurance: $   Annual Home Maintenance: %
Savings or Investment Rate:   %  


Mortgage
Insurance Rates

 

CMHC

Up to and including

Mortgage

65% - .50%

75% - .65%

80% - 1.00%

85% - 1.75%

90% - 2.0%

95% - 2.75%

Flex Down - 2.90%

100% - 3.10%

 

 

 

 

 

 
RE/MAX
  

RE/MAX United, Inc.
862-866 Topsail Road,
Mount Pearl, NL AIN 3J7
Office: 709-364-8848

  

olga.hitchen@nl.rogers.com
vunderhay@remax.nf.ca
coleary@remax.nf.ca
sold@DarrenStagg.ca
michelle.pennell@remax.nf.ca
wdwyer@remax.nf.ca

 Run Children's
             

Each office independently owned and operated. Not intended to solicit properties currently listed or Buyer Clients of other Brokers currently under contract. Errors and omissions excepted.
             

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