Mortgage Calculator
How much a bank will lend you.
The first step in determining how much a bank will lend you is to understand how much you can afford each month. This is determined using two lending principals.
The first lending principle is that your monthly housing cost should not exceed 32% of your gross monthly family income. This principle is known as the Gross Debt Service Ratio (GDSR) calculation. The second lending principle used, the Total Debt Service Ratio (TDSR) calculation, is that your monthly housing cost and payments on all of your other debts (including loans, credit card and lease payments) should not exceed 40% of your gross monthly income.
Our Mortgage Calculator will help you easily estimate your maximum affordable mortgage payment of principal and interest. All you need to do is enter your monthly income and expense amounts and the calculator will do the rest.
