Debt Service Ratio
Your Debt Service Ratio is a number lenders will look at to assess your ability to repay a mortgage. The objective is to ensure debt payments don’t exceed a certain percentage of your income. There are two types of Debt Service Ratios - Gross Debt Service ratio (GDS) and Total Debt Service ratio (TDS).
About The Author
Don Scott
Don Scott is the founder of a challenger mortgage brokerage that is focused on improving access to mortgages. We can eliminate traditional biases and market restrictions through the use of technology to deliver a mortgage experience focused on the customer. Frankly, getting a mortgage doesn't have to be stressful.
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