Debt Services Ratio

Desired Mortgage for New Home:

Mortgage Length:

Years

Interest:

Annual Tax:

Total Monthly Payments in Non-Mortgage Debt (i.e. car, student loans, credit cards, etc).

Monthly Principal + Interest:

Total Housing Payment (tax & insurance included):

Required Salary:

Your salary must meet the following two conditions:

Your gross (pre-taxes) monthly salary must be greater than 32% of the sum of the monthly mortgage and monthly tax payments.
Your gross (pre-taxes) monthly salary must be greater than 40% of the sum of the monthly mortgage, monthly tax and other monthly debt payments.

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