CMHC Introduces New Calculator and Mobile App for Homebuyers
CMHC is pleased to introduce two new tools to help Canadian homebuyers make informed and responsible homebuying decisions.
CMHC's new Debt Service Calculator allows homebuyers to evaluate their financial situation and understand how much they can comfortably 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), both important measures in assessing their financially readiness for homeownership. The Debt Service Calculator can be accessed on www.cmhc.ca (search 'calculator'). CMHC's new 'Ready, Set, Home' mobile app provides consumers, especially first-time homebuyers, with comprehensive CMHC information and tools at their fingertips. The app helps homebuyers keep track of the details throughout the homebuying process and provides access to a variety of helpful calculators, articles and other resources. Recognizing the increasingly fast paced, electronic and mobile environment, the new 'Ready, Set, Home' mobile app is a free application that offers quick and convenient access to CMHC's extensive housing information. The app can be downloaded to your Blackberry, Android or iPhone device at cmhc.ca/mobile. These new tools are the latest additions to CMHC's comprehensive suite of resources that are available to support Canadian homebuyers. For more than 65 years, CMHC has shared a wealth of knowledge and housing expertise, as well as useful tools and guidance, to help Canadians enjoy an informed and assured homebuying and homeownership experience