Definitions for "Gross Debt Service Ratio"
Related Terms:
Housing expense ratio, Total debt service ratio, Debt service ratio, Back end ratio, Front-end ratio, Qualifying ratios, Qualifying ratio, Housing ratio, Tdsr, Debt-to-income ratio, Back ratio, Piti ratio, Ratios, Debt to income ratio, Back-end ratio, Total debt ratio, Housing expenses-to-income ratio, Debt-to-income-ratio, Monthly housing expense, Income-sensitive repayment, Credit ratio, Debt-to-income, P.i.t, Housing expense-to-income ratio, Interest coverage ratio, Debt ratio, Income sensitive repayment, Qualifying, Debt servicing ratio, Capital and interest, Income multipliers, Debt coverage ratio, Principal, interest, taxes and insurance, Debt service coverage ratio, Mortgage interest deduction, Capital & interest, Interest, Housing expense, Kicker, Base loan amount, Servicing fee, Amount financed, Piti, Pre-payment penalty, No ratio loan, Effective gross income, Net interest, Capital, Prepayment penalty, Total expense ratio
The percentage of the total of annual mortgage Ratio (GDSR) payment (principal, interest, taxes, heat and half of condominium common element costs, if applicable, plus secondary financing payment and ground rent if applicable) relative to annual household income.
The ratio of an amount equal to the acceptable mortgage charges to an amount equal to the effective gross annual income of the borrower.
The percentage of your gross monthly income that can be used to pay the housing costs, including monthly mortgage payments (principal and interest), heating costs and property taxes ( condo fees when applicable). It is usually 32% of your gross monthly income.
This is the total cost of housing payments (this includes principal, interest, taxes, and sometimes heat and maintenance) divided by the family's total gross income Generally this ratio should not exceed 32%.
This is one of the calculations that lenders use to determine eligibility for a mortgage. It takes into account the mortgage payment you want plus taxes and heat and divides it by your income. The maximum ratio you are allowed is 32% by most lenders.
The percentage of a borrower's gross monthly income that can be used to pay the housing costs, including the monthly mortgage payment (principal and interest), heating costs and property taxes (and condominium fees when applicable). The total should not be more than 32% of monthly gross income.
The total amount of the mortgage payments (principal and interest), heating costs and property taxes (and condominium fees when applicable) divided by the total gross income.
Percentage of your gross income that will be used for monthly payment of principal, interest and taxes, heating and condominium fees, if applicable.
The calculation of one's total mortgage payment (including principal, interest and taxes and heating) divided by ones gross monthly income. Should not exceed 32%.
GDSR or GDS The measure by which Lenders define the ability of the borrowers to pay for their mortgage debt. This is the total mortgage debt service expressed as a percentage of the borrowers income. This ratio is calculated by dividing the total of Principal, Interest, Taxes and a Heating component into the Borrowers total income. FOR EXAMPLE: Suppose a Borrower has a total monthly income of $5,000. and suppose the Principal and Interest component of his mortgage total $1,200. and that the monthly property tax component is $100. Also assume an arbitrary heating component of $50.00 a month for a total of $1,350. Therefore $5,000. divided by $1,350.00 would give you a GDS R of 27%. Lenders vary as the maximum they will allow a borrower's GDS to be. This can range from 27% to 33%. Most of our Lenders will allow 33% and up to 35% for First Time Home Buyers
The gross debt service ratio is the portion of the borrower's gross income that is required to make the monthly payment of principal, interest, taxes, heating costs and, if applicable, half of the condominium fees.
It is one of the mathematical calculations used by lenders to determine a borrower's capacity to repay a mortgage. It takes into account the mortgage payments, property taxes, approximate heating costs, and 50% of any maintenance fees, and this sum is then divided by the gross income of the applicants. Ratios up to 32 % are acceptable.
Lender's allowable ratio of principal, interest, and tax (PIT) payment to gross monthly income of the mortgage applicant.
The percentage of gross annual income required to cover payments associated with housing (mortgage principal and interest, taxes and secondary financing). Most lenders prefer that the GDS be no more than 32%.
The percentage of the borrower's gross monthly income that will be used for monthly payments of principal, interest, taxes, heating costs and half of any condominium maintenance fees.
The ratio of the borrowers annual income relative to annual mortgage payments, property taxes, condo fees (if applicable) and allowance for hear (on CMHC loans); most lenders prefer this to be not more than 32%.
The gross annual income required to cover payments associated with housing (mortgage principal and interest, taxes, secondary financing, heating, and 50% of condominium fees, if applicable). Expressed as a percentage.
Percentage of your gross annual income required to cover payments of mortgage principal and interest, taxes and other financing. Most lenders prefer the GDS be no more than 32% of your gross income.
The percentage of a borrower’s monthly income to go to mortgage payments, utilities, taxes, and half of condo fees.
The percentage of your gross income, which you will be using to pay for the mortgage payment including property taxes. See also Total debt service ratio (TDS).
The percentage of the borrower's gross (before tax) monthly income that can be used to pay housing costs, including monthly mortgage payments, property taxes, heating costs, and condominium fees. Most lenders recommend that the GDS ratio not exceed 32% of monthly gross income. The GDS is not the same as the total debt service ratio.
Annual mortgage and other housing-related costs expressed as a percentage of the borrower's gross annual income. [] Hazard Insurance Insurance that covers the property from damages that might materially affect its value. Also known as homeowner's insurance.
The percentage of the borrower’s gross income that will be used for monthly payments of principal, interest, taxes, half of condo fees and heating costs.
is the amount that a lender will permit a borrower to use from his/her gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes (and condominium fees, when applicable).
A measurement of principal, interest and taxes as a percentage of gross household income.
The percentage arrived at by dividing your monthly shelter costs (principal, interest, property taxes, heating and half of condo fees) by your gross monthly income and multiplying by 100. This is used by all lenders as a yardstick by which to measure the ability of a borrower (or borrowers) to make mortgage payments. For example, most lenders require that this ratio be no more than 32% for a particular application, while others allow higher limits. This is also the maximum qualifying GDS for most default insurance applications.
GDSR or GDS. The measure by which lender defines the ability of the borrower to pay for their mortgage debt. This is the total mortgage debt service expressed as a percentage of the borrower's income. This ratio is calculated by dividing the total of Principal, Interest, Taxes and a Heating component into the Borrowers total income. Most lenders will allow up to 32% of gross income to be used.
The percentage of gross income required to cover monthly payments associated with housing, ( principal, interest, taxes, condo fee (if applicable) heating cost) Most lenders recommend that the GDS ratio be no more than 32% of your gross (before tax) monthly income.
The percentage of annual gross income of the mortgagor that is required to maintain annual mortgage payments, property taxes and hydro.
Gross debt service divided by household income. A rule of thumb is that GDS should not exceed 30%. It is also referred to as PIT (Principal, Interest and Taxes) over income. Sometimes energy costs are added to the formula, producing PITE, which moves the rule of thumb GDS to 32%.
The annual charges for principal, interest and taxes as a function of gross income of the mortgagor.
The percentage of gross annual income required to cover payments associated with housing (mortgage principal and interest, taxes, secondary financing, space heating, and 50% of condominium fees, if applicable).
A ratio based on income in relation to mortgage payments that is used by a lender to qualify a prospective buyer for a mortgage. This differs from the TDS (below) in that it does not include other debt, such as credit cards.
Lender's allowable ratio of gross monthly payment to gross monthly income of mortgage applicant.