How much you can Afford
Affordability
How much home can you afford?
Lenders start with your debt-to-income ratio: how much of your monthly income goes to the new payment plus your other debts. This calculator works backwards, from your income to a price.
Affordability calculator
Your estimated price range.
Change any number and the result updates.
Before you set a budget
Qualifying for it and being comfortable with it are different.
- Cash beyond the down payment: plan for closing costs (see the Florida closing cost estimator) and some reserves left after closing.
- Down payment sources: savings, investments, proceeds from a sale and gifts from family can all count if they’re documented.
- Lower down payments: some conventional programs allow 3% down for eligible buyers, FHA allows 3.5% with a qualifying score, and VA loans can need nothing down for eligible veterans. Less than 20% down usually adds mortgage insurance.
- Your monthly life: childcare, commuting and savings don’t show up in a debt ratio. Leave room for them.
More calculators
Run the rest of the numbers.
Payment calculator
Principal, interest, taxes, insurance, HOA, flood and PMI in one number.
OpenFlorida closing costs
Doc stamps, intangible tax and title premiums at Florida’s statutory rates.
OpenDebt-to-income calculator
The ratio lenders look at first, worked out for you.
OpenRefinance break-even
How many months until a refinance pays for itself.
OpenRental DSCR calculator
Whether a rental’s rent covers its full payment.
OpenTurn an estimate into a pre-qualification.
We’ll review your actual income and credit. Or call 305-933-1626 to talk it through.