Want a Mortgage in Canada? Know These Numbers

What this episode covers

Want a Mortgage in Canada? Know These Numbers 🇨🇦🏡 Planning to buy a home in Canada? Your Debt Service Ratios are among the biggest factors in getting approved for a mortgage. Understanding these numbers can help you qualify with more lenders — and secure better rates. In Canada, lenders don’t use DTI like the U.S. Instead, they measure two key ratios: ✅ What is GDS (Gross Debt Service Ratio)? The percentage of your income that goes toward housing costs: • Mortgage payment • Property taxes • Heating • Condo fees (if any) ✅ What is TDS (Total Debt Service Ratio)? Your GDS plus all other monthly debt payments: • Credit cards • Car loans • Personal loans • Lines of credit 📊 Mortgage Approval Guidelines in Canada To qualify with most lenders, aim for: • GDS under 39% • TDS under 44% Keeping your ratios within these limits increases your chance of getting approved for a mortgage — especially with prime lenders and big banks.   👉 Want to check if you’re mortgage-ready? Send me your numbers and I’ll calculate your GDS and TDS for you. ⸻ 🔍 mortgage canada, GDS Canada, TDS Canada, debt service ratio explained, how to qualify for a mortgage Canada, home loan Canada, first time home buyer tips, mortgage approval Canada, Canadian mortgage requirements, real estate Canada 2025

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