Debt ratio
calculator.

Before approving a loan, major financial institutions calculate your debt ratio. The following percentages let you assess the level of indebtedness as a percentage of your gross income:

less than 30% is deemed excellent
30% to 39.99% is very good
40% or more is problematic

Complete the following table to assess your situation.
GROSS MONTHLY INCOME (BEFORE TAXES)
Gross Salary
$
HOUSING EXPENSES (MONTHLY)
Rent or Mortgage Property Taxes Heat 50% of Condo Fees
Rent or Mortgage Property Taxes
$
$
Heat 50% of Condo Fees
$
$
OTHER DEBT OBLIGATIONS (MONTHLY)
Credit Cards Loans Line of Credit Student Loans
Credit Cards Loans
$
$
Line of Credit Student Loans
$
$
OTHER DEBT OBLIGATIONS (MONTHLY)
Vehicle Loans or Lease Personal Loans Other
Vehicle Loans or Lease Personal Loans
$
$
Other
$
Low
Medium
High
5
10
15
20
25
30
35
40
45
50
55
60
65
70
75
80
85
90
95

Disclaimer : This calculator is for illustrative purposes only. Groupe Nantel does not guarantee the accuracy, reliability or completeness of any information or calculations provided by this calculator. Groupe Nantel is not be liable for loss or damage of any kind arising from the use of this tool.

As part of the loan approval process, financial institutions and the Canada Mortgage and Housing Corporation (CMHC) examine the total debt service ratio (TDS). This ratio indicates what proportion of gross income is already spent on housing-related expenses and other debt payments. This ratio is usually examined in combination to the stability of your income, your timely payments of bill and your credit score with Equifax or Transunion, prior to deciding whether or not to grant you credit.

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