Borrower’s Affordability

Gross Debt Service & Total Debt Service: A lender determines a borrower’s affordability by determining their Gross Debt Service (GDS) and Total Debt Service (TDS) ratios. The GDS ratio is a comprehensive measure of a borrower’s monthly housing expenses. The

Mortgage Qualification

Mortgage Financing Steps: While mortgage financing methods vary based on circumstance, common patterns are seen in many residential transactions. The maximum loan amount, interest rate, and terms for a new mortgage will likely be influenced by the type, location and