GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Carrying Costs


Synonyms:carrying charge, lease, maintenance, mortgage, overhead, utility costs
Filed Under: financial-banking, mortgages, real-estate, taxation
Tags: banking, mortgage, realty, taxes
 

Definition of carrying costs

carrying costs
1. The expenses of maintaining a home or property. For example, mortgage payments, property taxes, and the expenses of utilities, repairs and upkeep.

Related Terms and Acronyms:

  • debt/equity ratio   A comparison of debt and equity used to measure the health of a business.
  • gross debt service (GDS)   The total monthly mortgage (or rent) payments, property taxes, utilities and maintenance fees as a percentage of gross monthly income.
      ➥  Used by mortgage lender underwriters to determine one's ability to qualify for a mortgage loan.
  • total debt service (TDS)   The ratio of a borrower's total monthly debt payments to his or her monthly gross income. Lenders use this ratio to determine how much of a loan a borrower is qualified for.

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