Definitions for "Total Debt Service Ratio"
Keywords:  gds, tds, gross, plus, debt
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.)
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.
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%.