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Banks and "A" Lenders pay us for your residential service. EXCEPT bad credit mortgages, some self employed mortgages from "B Lenders", private mortgages or multi-use and commercial loans - broker fees are payable by clients. Lenders change their products and interest rates without notice.
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This tool allows you, the home buyer to evaluate your financial situation and understand how much you can comfortably afford to spend on a mortgage.
The calculator will help you compare the level of your monthly housing expenses and total debt to your gross household income. This is the comparison performed when you are being pre-qualified for a mortgage.
It calculates your Gross Debt Service (GDS) and Total Debt Service (TDS) to determine whether or not you qualify as is -- or if some restructuring is needed first.
See mortgage help for more details what is involved throughout the mortgage broker Canada approval process.
But, there are other variables and strategies that the mortgage broker will apply to calculations and advise you what restructuring, if any, is needed to custom fit you for a mortgage.
There are different strategies for each unique situation, including:
Contact me for a FREE assessment of your situation. You deserve an expert to assess and present your information to the lender accurately. There is no need for you to struggle through volumes of details, trying to understand all the mundane qualifying requirements - the different offers, rates, terms, features and hype.
Thank you for checking out our free mortgage calculator tool. Please visit often and share this calculator with others by using the social media tools provided.
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