Know your GDS and TDS ratios BEFORE shopping for a mortgage! (Canada 2021 Rules)

If you’re shopping for a mortgage in Toronto, then you need to know your Gross Debt Service and Total Debt Service ratios (Or GDS and TDS). But what are they? For most borrowers, it’s a complete mystery! Did you know that banks use these ratios as a key qualification factor to approve your mortgage? So wouldn't it make sense to know what this is all about, before shopping for a mortgage? Let’s stay one step ahead of the banks, and figure this all out together. Link to "How Much House Can I Afford" video:    • How Much House Can I Afford?  (Canada 2021...   ​ Link to explanation on the Mortgage Stress Test:    • Canadian Mortgage Stress Test (2021) - Do ...  ​ 3 Reasons to use my mortgage broker services: 1. I save you (lots) of money! 2. I have your back! I'll go the extra mile to get you approved. 3. Get expert advice from a mortgage broker that lives and breathes mortgages, and only mortgages. Need help with your mortgage? Contact me! [email protected] 416-435-8340 Victor Camba B.Eng Mortgage Broker Brokerage License 13297 Mortgage Architects - EMI Mortgage Services Inc. Independently owned and operated Visit: https://alternativemortgage.ca/ Providing Bank financing, B-lender and private mortgages for the Greater Toronto Area, Richmond Hill, Vaughan, Newmarket, Aurora, Markham & Mississauga. #mortgageaffordability #gds #tds #toronto