Canadian mortgage glossary
Every Canadian mortgage term explained in plain language — no jargon, no fluff, just what you need to know.
Frequently asked questions
What are GDS and TDS ratios?
GDS (Gross Debt Service) is the percentage of your gross income needed for housing costs. TDS (Total Debt Service) includes housing costs plus all other debts. Lenders typically require GDS under 39% and TDS under 44%.
What is the difference between fixed and variable mortgage rates?
A fixed rate stays the same for your entire mortgage term, giving payment certainty. A variable rate fluctuates with the lender's prime rate, which can result in lower costs over time but less predictability.