Quote:
Originally Posted by matt2112
excuse my ignorance, but what is "debt service?"
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Debt Servicing Ratio (TDS) This number takes your Gross income then divides it by your debt. The general approval is 40% and under.
Sooo Simple numbers...
I have a $10,000 a month income and a loan that I pay $1,000 per month. My TDS will be 10%. However I can afford a payment of up to $4,000 per month.
You can break it down yearly, monthly whatever...