Michael Winter*
Home
Listings
Check Out These Great Listings
FREE VIP Buyer Program
Contact Us
FREE Home Evaluation
Buyers
Sellers
First Time Buyers
Downsizing?
Contact Me
My Resume
Michael Winter*
Home
Listings
Check Out These Great Listings
FREE VIP Buyer Program
Contact Us
FREE Home Evaluation
Buyers
Sellers
First Time Buyers
Downsizing?
Contact Me
My Resume
Michael Winter*
London, Ontario Real Estate
Luxury and High End Homes
Required Fields
Required term in years
Must be a number between 1 and 50
Term In Years:
Required interest rate
Must be a number between 1 and 100
Interest Rate:
%
Required cost of home
Must be a positive number. Maximum of 2 decimal places.
Cost of Home:
$
Required down payment
Must be a positive number. Maximum of 2 decimal places.
Cannot be more than Cost of Home
Down Payment:
$
Required annual insurance
Must be a positive number. Maximum of 2 decimal places.
Annual Insurance:
$
Estimate Insurance to
0.43%
of Cost
Required annual property tax
Must be a positive number. Maximum of 2 decimal places.
Annual Property Tax:
$
Estimate Tax to
1.2%
of Cost
Required monthly income
Must be a positive number. Maximum of 2 decimal places.
Monthly Income:
$
Required monthly debt
Must be a positive number. Maximum of 2 decimal places.
Monthly Debt:
$
Optional Fields
Gross Debt Service Ratio (GDS):
28%
29%
30%
31%
32%
33%
34%
35%
36%
37%
38%
39%
40%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
51%
52%
53%
54%
55%
56%
57%
58%
59%
60%
61%
62%
63%
64%
65%
66%
67%
68%
69%
70%
Total Debt Service Ratio (TDS):
36%
37%
38%
39%
40%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
51%
52%
53%
54%
55%
56%
57%
58%
59%
60%
61%
62%
63%
64%
65%
66%
67%
68%
69%
70%
Condos Fees:
$
Must be a positive number. Maximum of 2 decimal places.
Results
Receive this Detailed Analysis
Mortgage
Qualification
Affordability
Rent vs Buy
Your Monthly Payments
Loan Amount:
Loan Insurance (
%):
Total Loan (Mortgage) Amount:
Principal & Interest:
Homeowners Insurance:
Property Taxes:
Condo Fees:
Monthly Loan Insurance
(
%)
:
Total Monthly Payment:
Income Needed to Qualify for the Mortgage
Total Monthly Loan Payment:
Total Monthly Debt Payment:
Monthly Loan Insurance (
%):
Qualifying Income of
% GDS Ratio:
Qualifying Income of
% TDS Ratio:
What You Can Afford
We are using the
% ratio.
Cost of House:
Down Payment:
Loan Value:
Monthly Principal & Interest:
Monthly Insurance:
Monthly Property Tax:
Monthly Condo Fees:
Cost of House = [(Monthly income x Debt Ratio) –
monthly tax – monthly insurance – condo fee] /
(monthly interest rate/ function of interest rate)
Renting
Monthly Rent:
$
Required
Must be a positive number
Annual Rental Increases:
Required
Invalid
%
Monthly Renter Insurance:
$
Required
Invalid
Savings or Investment Rate:
Required
Invalid
%
Owning
Planned # of years in home:
Required
Invalid
Yearly appreciation of the home:
Required
Invalid
%
Annual home maintenance:
Required
Invalid
%
Sutton Group Preferred Realty, Brokerage
Michael Winter*
(519)438-2222(Office)
(519)438-1886(Fax)
181 Commissioners Rd W
London
, Ontario
, N6J 1X9
Email Michael
Mortgage Rates
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TD Canada Trust rates
Bank of Montreal rates