Gross Debt Service Ration (GDS)
Amount that a lender will permit a borrower to use from his gross income in order to qualify for a loan for housing costs, including mortgage payment and taxes. The Total Debt Services Ratio (TDS) is the maximum percentage of a borrower's income that a lender will consider for all debt repayment, such as other loans or credit card debt, including a mortgage. Source: Vancouver Island Real Estate Board.
- Part of Speech: proper noun
- Industry/Domain: Real estate
- Category: Residential
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- mbourgaize
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(Nanaimo, Canada)