Chris McKee

Cell: (604) 970-9048 |

Mortgage Calculator

 How much can you afford?

 Buying a home usually means obtaining a mortgage loan. Below, you will find a useful mortgage calculator that will give you the monthly payments that you could expect given your particular financing situation. Remember, this is only the begining. You will want to contact your bank or a mortgage broker and confirm the amount you can spend and have them draft a pre-approval letter with their commitment.

 
For your information, lending institutions will calculate your household income by the following ratios in order to evaluate your mortgage application;
 
Gross Debt Service Ratio (GDS) - usually 32% of monthly gross household income, to cover the mortgage payment (principal, interest & taxes), energy costs and condo fees (if applicable).
 
Total Debt Service Ratio (TDS) - usually 40% of monthly household income, to cover the mortgage payment (principal, interest & taxes), energy costs, condo fees (if applicable), car loans, credit cards and all other debt owed by the applicant.
 

Please fill out the information below and I will put you in touch with a trusted mortgage professional who will provide you with a depth of knowledge, explain all of your financing options and get you the best rate!

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.