Total Debt Service Ratio. 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.)
Total Debt Service Ratio. The percentage of total monthly pre-tax income required to pay all monthly housing costs (Principal, Interest, Property Taxes, Utilities, 50% of Monthly Condominium Fee) plus all other debts such as monthly car payments, line of credit payments and credit card payments.
Total Debt Service Ratio. This is the total cost of housing payments plus all other instalment payments divided by the family's total gross income. Generally this ratio should not exceed 42%.
Total Debt Service Ratio. The percentage arrived at by dividing your monthly housing costs (principal, interest, property taxes, heating and half of condo fees) Plus all other monthly debt obligations by your gross monthly income and multiplying it by 100. This is used by all lenders as the "upper limit" by which to measure the ability of the borrower to make the mortgage payments.
(Total Debt Service Ratio) The total of all monthly installment payments (loans, rent, taxes, utility payments, etc.) divided by gross income.
Total Debt Service Ratio. The total annual income relative to a borrower's total payments, GDS payments plus other debts such as bank loans, finance company loans, credit card payments, car payments, etc; most lenders prefer this not to exceeds 42%.
Total debt service ratio. The percentage of a borrower's gross monthly income (before tax) needed to cover payments for housing costs (principal, interest, taxes, condominium/maintenance fees, heating costs) and all other debts and obligations (typically loans and credit cards).
See Total Debt Service Ratio
Total Debt Service Ratio is a secondary calculation used by lenders and mortgage insurers to determine an applicant's ability to service their respective mortgage request in addition to their other debt obligations. The calculation is determined as follows: Mortgage, Principle Interest & Taxes + Heating Cost and/or Condo Fees + 1/2 of Other Debts Gross annual income of borrower(s)
