CMHC's Debt Serice Calculator

Canada Mortgage and Housing Corporation (CMHC) recently introduced two new tools to help Canadian homebuyers make informed and responsible home-buying decisions – including a calculator and mobile app.

CMHC’s new Debt Service Calculator allows homebuyers to evaluate their financial situation and understand how much they can comfortably afford to spend on a mortgage. The easy-to-use calculator allows users to quickly estimate their gross debt-service ratio (GDS) and total debt-service ratio (TDS) – both important measures in assessing their financial readiness for homeownership. The Debt Service Calculator can be accessed by visiting: www.cmhc-schl.gc.ca/en/co/buho/buho_005.cfm

CMHC’s new ‘Ready, Set, Home’ mobile app provides consumers, particularly first-time homebuyers, with comprehensive CMHC information and tools at your fingertips. The app helps homebuyers keep track of the details throughout the home-buying process and provides access to a variety of helpful calculators, articles and other resources.

Recognizing the increasingly fast-paced, electronic and mobile environment, the new ‘Ready, Set, Home’ mobile app is a free application that offers quick and convenient access to CMHC’s extensive housing information. The app can be downloaded to your Blackberry, Android or iPhone device at: www.cmhc.ca/mobile.

These new tools are the latest additions to CMHC’s comprehensive suite of free resources available to support Canadian homebuyers.

Donna Price

Donna Price

Sales Representative
CENTURY 21 B.J. Roth Realty Ltd., Brokerage*
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