Canada Mortgage and Housing Corporation (CMHC) recently introduced two new tools to help Canadians make informed and responsible home-buying decisions – including a calculator and mobile app for home buyers.
CMHC’s new Debt Service Calculator allows home buyers to evaluate their financial situation and understand how much they can afford to spend on a mortgage. The easy-to-use calculator allows users to quickly estimate their gross debt-service ratio (GDS) and total debt-service ratio (TDS). These are both important in assessing their financial readiness for home ownership. The Debt Service Calculator can be found
by visiting: www.cmhc-schl.gc.ca/en/co/buho/buho_005.cfm.
CMHC’s new ‘Ready, Set, Home’ mobile app for home buyers, provides consumers with comprehensive CMHC information and tools at your fingertips. The app helps home buyers keep track of the details throughout the home-buying process and access to helpful calculators, articles and other resources.
Recognizing the increasingly fast-paced, mobile environment, the new ‘Ready, Set, Home’ mobile app for home buyers is a free application. It offers quick and convenient access to CMHC’s extensive housing information. The mobile app for home buyers can be downloaded to your Blackberry, Android or iPhone device at: www.cmhc.ca/mobile.
These new tools are the latest additions to CMHC’s comprehensive suite of free resources available to support Canadian home buyers. To check out all the great tools and resources offered by CMHC visit their site at www.cmhc.ca or access via the link on my website at www.mybcmortgage.ca.
To review your specific situation including debt servicing and affordable mortgage payment options, speak to your mortgage specialist. I am happy to help. Call me at 604 813 8402 or email firstname.lastname@example.org – Cheers Pauline