Debt Service Calculator

This calculator will help you compare the level of your monthly debt and housing expense payments to your gross monthly household income. Your Mortgage Professional will perform this assessment when qualifying you for a mortgage.

Debt Service Calculator

Calculation Results

GDS

TDS

Download Excel File

Monthly Housing Expenses

Mortgage (principal & interest) ($)

Heating ($)

Property taxes ($)

Condo fees ($)

Monthly Debt Payments

Credit cards ($)

Vehicle loan/lease ($)

Loans, lines of credit ($)

Gross Annual Income

Mortgage Professionals use two common ratios to determine if borrowers can afford their obligations.

Gross Debt Service (GDS)
The percentage of your monthly household income that covers housing costs such as your mortgage principal and interest, taxes, heating expenses and half of the condo fees (if applicable). Should not be more than 32%.

Total Debt Service (TDS)
The percentage of your monthly household income that covers housing costs and other debts, such as car loans, line of credit and credit card payments. Should not be more than 40%.

Please enter your household's total gross annual income and we'll calculate these ratios for you.

* Gross Annual Income ($)

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Debt Service Calculator