Charlie Cannizzaro
Sales Representative
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Mortgage Calculator
Required
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Interest Rate:
%
⇐
⇐
Cost of Home:
⇐
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Down Payment:
⇐
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Annual Insurance:
⇐
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Set to
0.43%
of cost
Annual Property Tax:
⇐
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Set to
1.2%
of cost
Monthly Income:
⇐
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Monthly Debt:
⇐
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Optional
Gross Debt/Service Ratio:
28%
29%
30%
31%
32%
33%
34%
35%
36%
37%
38%
39%
40%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
51%
52%
53%
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55%
56%
57%
58%
59%
60%
61%
62%
63%
64%
65%
66%
67%
68%
69%
70%
Total Debt/Service Ratio:
36%
37%
38%
39%
40%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
51%
52%
53%
54%
55%
56%
57%
58%
59%
60%
61%
62%
63%
64%
65%
66%
67%
68%
69%
70%
Condo Fees:
⇐
Mortgage
Qualification
Affordability
Loan Amount:
Loan Insurance (
%):
Total Loan Amount:
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance (
%):
Total Monthly Payment:
Income Needed to Qualify for the Mortgage:
% GDS Ratio:
% TDS Ratio:
Monthly payments:
Loan Payment:
Total Debt Payment:
Loan Insurance (
%):
What You Can Afford?
We are using the
% ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly payments:
Principal & Interest:
Insurance:
Property Tax:
Condo Fees:
Note: Cost of House = [(Monthly income x Debt Ratio) – monthly tax – monthly insurance – condo fee] / (monthly interest rate/ function of interest rate)
987 RYMAL ROAD EAST
Hamilton, ON, L8W 3M2
phone: 905-574-4600
fax: 905-574-4345
Email Charlie Cannizzaro
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