This is your clients first mortgage they would like to know what they mortgage balance will be after 24 payments.  Calculate the balance to two decimal places

Using Arjun’s provided documentation calculate his monthly income for debt servicing calculations.. Round to two decimal places. Consider that this document is considered current and within guidelines for the application. 

Assume: 25-year amortization, fixed interest rate of 4.95% .  What is the monthly payment?

Calculate their GDS for the mortgage application. Round to two decimal places. 

Calculate the down payment percentage, to help determine will they need Mortgage Insurance. Round to two decimal places.  Property Details Item Amount Purchase Price $525,000 Down Payment $35,000 Mortgage Required To Be Calculated Property Taxes $4,800 annually Heating Costs $175 monthly

Is this mortgage:

Based on the debt servicing calculations and stress test results, what is the most appropriate conclusion?

Calculate the TDS ratio using the stress-tested payment.

Which document provided in the mortgage file would a lender primarily use to verify the property’s advertised features and details?

Calculate their TDS for the mortgage application. Round to two decimal places.