DEBT SERVICE RATIO CALCULATOR

TOTAL GROSS MONTHLY INCOME
(BEFORE INCOME TAXES):
   
Monthly living expenses  
Rent or mortgage payments, per month:
Municipal and school taxes
(divided on a monthly basis) :
Heating/electricity, per month :
Condos fees, per month :
 
Debts
Monthly car payments (lease or loan) :
Monthly personnal loan payment(s)
(including student loan) :
Total amount due on credit card(s) :
Total amount due on credit line and "buy now and pay later" debts :
Monthly payment on income tax debt :
Monthly payment on new loan application :
Monthly alimony/child support payment :
 
 
Your debt service ratio :
Note: If your debt service ratio is over 40%, the probability of obtaining a loan is reduced significantly. The lower your ratio, the higher the probability of obtaining a loan at a reasonable interest rate.
Remember that this debt service ratio does not take into account your personal lifestyle and priorities (travel, restaurants, activities, etc.). By your accepting a new loan, the payments may affect your quality of life. In other words, just because a mathematical formula says you can borrow, it does not mean that you should borrow. Consider it carefully.