Calculator · Florida
Affordability calculator
This runs the calculation the underwriter runs, backwards. It solves by search rather than formula, because property taxes and mortgage insurance both scale with the purchase price — so there is no clean equation to rearrange.
How much house can I afford?
Take your gross monthly income, multiply by the debt-to-income limit for the program — commonly 45% — and subtract your existing monthly debt payments. What remains is your housing budget, and it must cover principal, interest, taxes, insurance, HOA and mortgage insurance, not just the loan.
You could reasonably shop up to
$0
with a monthly housing payment of $0 against a budget of $0
- Maximum loan amount$0
- Down payment required$0
- Estimated cash to close$0
Where your gross income goes
Debt-to-income limits vary by program, credit score, reserves and automated underwriting findings — 45% is a common conventional ceiling, but FHA files regularly go higher with compensating factors and VA uses residual income instead. This tool shows what the ratios allow, not what you should spend.
Questions about this calculator
What debt-to-income ratio do mortgage lenders allow?
Around 45% is a common conventional ceiling, though FHA files regularly go higher with compensating factors and VA uses residual income instead. This calculator lets you set both the total and housing-only limits so you can see the effect.
Does the affordability calculation include property taxes and insurance?
Yes. Lenders qualify you on the full housing payment — principal, interest, taxes, insurance, HOA dues and mortgage insurance. A calculator that only counts principal and interest will overstate what you can afford, badly, in Florida.
Should I borrow the maximum I qualify for?
Almost never. This tool shows what the ratios permit, which is a ceiling rather than a recommendation. It takes no account of childcare, tuition, retirement saving or how much volatility your income carries.
Where this applies
Related loan programs
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