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Mortgage Debt Coverage Ratios

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.

GDS RATIO (Gross debt service ratio):

The percentage of gross annual income required to cover payments associated with housing costs (Mortgage payments, Property taxes, heat, and 50% of condo fees)

Benefits

Provides Home ownership for a new segment of the market.

Eligibility Requirements:

  • TDS/GDS ratios of 42% and 35% respectively are acceptable for high ratio insured mortgages for applicants with a  credit score < 680.

  • TDS/GDS ratios of 44% and 39% respectively are acceptable for high ratio insured mortgages for applicants with a  credit score >680+.

 

All Products

 

All Products

Bureau Score

< 680

 

≥ 680

TDS

42%

 

44%

GDS

35%

 

39%

 

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