GDS and TDS ratios, fixed vs. variable rates, and what actually determines how much you qualify for.
Get pre-approved before you start touring
A pre-approval tells you your real budget and locks in a rate for a set period, protecting you if rates rise while you search.
Understand GDS and TDS ratios
Lenders cap your housing costs (GDS) and total debt payments (TDS) as a percentage of income — see our full breakdown on the Mortgage Pre-Approval page for the exact math.
Choose fixed or variable
A fixed rate stays the same for your term; a variable rate moves with the lender's prime rate. Neither is universally better — it depends on your risk tolerance and rate outlook.
Choose your amortization period
A longer amortization lowers your monthly payment but costs more in total interest over the life of the mortgage — run the real numbers before deciding.
GDS and TDS ratios set the ceiling on what you qualify for — see the full explanation on Mortgage Pre-Approval.
Minimum down payment is 5% on the first $500,000 of a purchase price, rising above that — anything under 20% down requires mortgage default insurance.
Your credit score and history affect both whether you qualify and what rate you're offered.
Fixed vs. variable affects your payment stability, not just the headline rate.
A longer amortization lowers monthly payments but increases total interest paid over the life of the mortgage.
Book a free consultation with Narges to talk through your financing, or run the numbers yourself first.
