The Required Income is displayed as the largest text in the tool. This is the annual income required for the mortgage amount you are borrowing.

Required Income  


Is the Mortgage Qualifying Rate.  The MQR is the rate used to qualify you. It is calculated as the greater of the Bank of Canada Qualifying Rate (5.25% as of March 2023) OR the contract rate (the rate the lender offers) plus 2%.


Debt to Income Ratio is an indicator to show how much debt there is relative to income. It's calculated by summing up all the debt balances and dividing them by the annual income. The higher the ratio, the more debt than income there is.


Gross Debt Service and Total Debt Service are ratios that define how much of your income can be used for mortgage payments, home expenses and paying off other debts.