image

Paul Hart, AMP
Mortgage Broker

Phone and Fax Numbers

Office Number:(604) 535-1011
Fax Number:(604) 535-1066
Cell Number:(604) 833-0459

Email:      paul_hart@centum.ca

Follow me on:

CENTUM Action Mortgage Corp. - Todays Rates Today's Rates
2.80% Variable Rate
2.80% 1 Year
2.59% 2 Year
2.89% 3 Year
2.99% 4 Year
3.19% 5 Year
3.89% 7 Year
3.89% 10 Year
3.00% Prime Rate
Rates are subject to change without notice *O.A.C E & O.E

CENTUM Action Mortgage Corp. - News & Rate Advisor News & Rate Advisor
To sign up for our monthly news letter, please fill in the fields below.
Click here for More Info

Optimum Mortgage  Caamp  ResMor  First National  
MERIX  TD Canada Trust  MCAP  Street Capital  
Peoples Trust  Industrial Alliance  ScotiaBank  FirstLine Mortgages  
Home Trust Company  
A Network of over 80 Lenders Competing For Your Business

Home Purchase

Mortgage rates are the lowest they have been in 50 years. We'll find you the best mortgage rates and terms in Canada.

                                   Get Approved...

Mortgage Switch

STOP...Don't sign that mortgage renewal form before you talk to us about our rates and terms...

                                  Switch Today...



Understand GDS and TDS

GDS RATIO (Gross Debt Service Ratio):

The percentage of gross annual income required to cover payments associated with housing. Payments include mortgage principal, interest, property taxes and sometimes include secondary financing, heating, condominium fees or pad rent.

TDS RATIO (Total debt service ratio):

The percentage of gross annual income required to cover payments associated with housing and all other debts and obligations, such as car loans and credit cards. 

Example - GDS - Gross Debt Service Ratio

Monthly mortgage payment:
(principal and interest)*		 $1,191.84
Property taxes: (monthly) $150.00
Heating costs: (monthly) $105.00
Other:** $50.00
Total monthly payments: $1,496.84
Gross monthly household income: $6,000.00
 
GDS = Total monthly payments  (x 100)
           Gross monthly income  		  
GDS = $1,496.84  (x 100) = 24.95%
           $6,000.00   		  

* Principal and interest must be based on the total insured loan amount, including CMHC insurance premium (if you choose to add the premium to your mortgage and not to pay the premium up front).  Mortgage payment is based on a $200,000 mortgage, 5.25% interest rate, 25 year amortization.

** If you are purchasing a condominium, you must include 50% of the monthly condominium fee.  If the mortgage is for a mobile home (chattel mortgage) include 100% of the monthly site (pad) rent.  

Example - TDS - Total Debt Service Ratio

Total monthly housing payments:
(from GDS calculation):*		 $1,496.84
Other debts:
(personal loans, car loans, credit cards, etc.):
$350.00
Total monthly debts: $1,846.84
Gross monthly household income: $6,000.00
 
TDS = Total monthly payments  (x 100)
           Gross monthly income  		  
TDS = $1,846.84  (x 100) = 30.78%
           $6,000.00   		  

 

How much can you afford?

Want to know where you stand? With a few simple calculations, you can work out the home you can afford to buy. Use the examples above as a guide to calculate your own GDS and TDS ratios.

Simply input your monthly payments and household income.  Your GDS (gross debt service ratio) and TDS (total debt service ratio) will be dynamically calculated.

Monthly Mortgage Payment $
Property Taxes $
Heating Costs $
Condo Fees (if required) $
Total Payments   
Gross Monthly Household Income $

GDS %

  
   
Other Debts (Credit Cards, etc.) $

TDS %

   

Home Apply Now Calculator Client Login Privacy Security Contact Faq Links to Us Local Pros Stats About Legal Lenders Site Map

Copyright 2010 CENTUM Action Mortgage Corp. All Rights Reserved.
*some restrictions may apply

Powered by GoMAX Solutions.