Debt Service Calculator
Can I Afford This Mortgage?
Enter your income, debts, and the mortgage you want. This calculator tells you whether lenders would approve it based on Canada's debt service rules (GDS and TDS ratios).
Mortgage Amount
$500,000
Gross Annual Income
$100,000
Monthly Debt Payments
$0
Home Expenses
To budget better and calculate a more realistic monthly cost, enter your additional home expenses here.
Property Tax (Monthly)
$
Property Tax (Yearly)
$
Condo Fees (Monthly)
$0
Heat (Monthly)
$150
Rate
Fixed stays the same for the term. Variable moves with prime.
Rate
5.25%
Rate Term
Amortization
The total time to pay off your mortgage. New mortgages in Canada typically start at 25 or 30 years.
Amortization
25 years
Add Rental Income
GDS
45%
TDS
45%
Stress Test Rate7.25%
Conservative
32%/40%Standard
35%/42%Maximum
39%/44%Housing (GDS)DebtRemaining
Monthly Mortgage$2,979.59
Debt Payments$0.00
Home Expenses$150.00
Cash Left (Gross)$5,203.74
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