Debt Service Calculator

Mike Fox, Mortgage Agent, Level 2 at BRX Mortgage.

Mortgage and Income

Mortgage amount

Gross annual income

Monthly debt payments

Home Expenses

Monthly carrying costs counted in the ratios.

Property tax (monthly)

Property tax (yearly)

Condo fees (monthly)

Heat (monthly)

Rate Settings

Interest rate

Term (years)

Rate type

Loan type

Compounding

Amort. years

Amort. months

Stress Test and Rental

Stress test rules

Condo fee inclusion rate

Add rental income

Actual GDS / TDS

38.74%

GDS

38.74%

TDS

Stress Test Rate8.29%

32% / 40%

35% / 42%

39% / 44%

Green means you are within that tier on both GDS and TDS.

Where the income goes

Monthly Mortgage$3,285.72

Debt Payments$0.00

Home Expenses$933.33

Cash Left (Gross)$8,280.95

Disclaimer: This calculator is for illustrative purposes only and should not be relied upon for financial planning. Lender rules, the qualifying rate, and ratio limits change. Confirm your approval with your lender before you make an offer.