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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
50% - Moderately

Total Expense Ratio


Synonyms:monthly debt payments, overall expense ratio
Acronyms &
abbreviations:
TER
Filed Under: financial-banking, taxation
Tags: finance, measurement, qualification
 

Definition of total expense ratio (TER)

total expense ratio (TER)
1. The percentage of monthly debt payments compared to total before-tax income.

Related Terms and Acronyms:

  • debt-to-income ratio   The percentage of an individual's income that is used to repay debt.
  • expense ratio   A method of calculating an insurer's operating efficiency.
  • 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.

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