Today’s blog will cover some highlights of Investment Property financing with GLM Mortgage Group.
It is all about Debt Servicing
DEFINITION of ‘Debt Service’
The cash that is required for a particular time period to cover the repayment of interest and principal on a debt. Debt service is often calculated on a yearly basis. Debt service for an individual often includes such financial obligations as a mortgage and student loans. Companies may have outstanding loans or outstanding interest on bonds or the principal of maturing bonds that count towards the company’s debt service. An individual or company that is not able to make payments to service the debt can be said to be “unable to service (his/her/its) debt.”
Here is a Debt Service Calculator for you, brought to you by CHMC.ca [click on the picture].
The will to succeed is important but what’s more important is the will to prepare…
Get the FULL picture of Investment Property Financing by reading, even downloading, my SlideShare presentation below: