Calculations based on total
monthly repayment divided by total monthly income resulting in a Debt
Servicing Ratio (DSR) not exceeding 32%. This is based on industry
averages for calculating DSR's.
As most institutions make
their calculations with an interest rate 2% higher than the current
rate, we have also used an interest rate 2% higher than the one entered
in.
This calculation does not pre qualify you for a loan - it
is to be used as an indication only. Individual institutions have their
own lending criteria which may differ from the one used here.