Home Affordability Calculator
Find out how much house you can afford in Florida based on your income, debts, and down payment.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
Based on your chosen debt-to-income ratio and estimated Florida taxes and insurance. Estimate only — actual approval varies by lender, credit, and program.
Affordability is driven by your debt-to-income ratio — the share of your gross monthly income that goes toward debt. Lenders cap that ratio, so your income and existing debts set a ceiling on the payment you can carry.
The result is an estimate of the home price your budget supports. Lowering your monthly debts or raising your down payment both push the number higher.
How to Use This Calculator
- 1
Enter your total annual household income before taxes.
- 2
Add up your recurring monthly debt payments — credit cards, auto loans, student loans — and enter the total.
- 3
Set the down payment you have saved and an illustrative interest rate.
- 4
Adjust the maximum DTI ratio to match the program you want, then read the affordable home price.
The Formula & Assumptions
Max payment = (income ÷ 12 × DTI) − debts
Affordable price =
(max payment + down × PI factor)
÷ (PI factor + tax/ins factor)
We take your gross monthly income, multiply by your chosen DTI ratio, and subtract existing debt payments to find the housing payment you can support.
That payment is then converted back into a home price using the principal-and-interest factor for your rate plus an estimated tax-and-insurance load of about 2.1% of value per year.
Conventional loans often allow a DTI up to 45% to 50% with strong credit, while FHA can stretch higher with compensating factors. The 43% default is a conservative starting point.
Frequently Asked Questions
What debt-to-income ratio do I need to buy a home?
Many conventional loans allow a back-end DTI up to 45%, and some programs go higher with strong credit and reserves. FHA loans can sometimes approve ratios above 50% with compensating factors. A lower ratio generally improves your terms.
Does this include property taxes and insurance?
Yes. The affordable price estimate reserves room for estimated Florida property taxes and homeowners insurance, so the figure reflects a full PITI payment rather than principal and interest alone.
Will a bigger down payment let me afford more?
Yes. A larger down payment reduces the loan you need at any given price, which frees up monthly budget and can push the affordable price higher. It can also remove mortgage insurance at 20% down.
Is this the same as a pre-approval?
No. This is a planning estimate. A pre-approval involves a credit check and documentation review by a lender, and it carries far more weight with sellers. Use this tool first, then apply for a real pre-approval.
Ready to Turn Your Estimate Into a Real Pre-Approval?
Get a personalized rate quote and pre-approval from a licensed Florida mortgage broker — no obligation.
Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.