using this formula :

Mallory is meeting with CIBC to discuss her potential mortgage with them and the ratios that they require. Mallory's gross annual income is $118,000. The condo would result in monthly heating costs of $575, condo fees of $1,800 per year, while her annual municipal property and school taxes would be $4,730. Her only debt is a car loan of $865 per month. Calculate her Total Debt Service (TDS) ratio using a monthly mortgage payment of $2,600. (1 mark) mortgage loan, the value of the home must be greater than the value of the mortgage