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| This
calculator calculates U.S. and Canadian monthly mortgage
payments based on principal, interest and term. U.S. mortgages
are compounded monthly while Canadian mortgages are compounded
semi-annually. |
The calculator
estimates what you qualify for under both the total and
the gross debt-income tests, and presents you with whichever
answer is lower. The maximums we are using are 32% for
the gross debt-service ratio, and 40% for the total debt-service
ratio. |
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