How Much Home Can I Afford in Florida?

Start with your income, monthly debts and down payment to see a price range that fits, with Florida property taxes and insurance counted in the payment. Then let’s find homes on the Treasure Coast and Space Coast in that range.

Affordability FAQs

How does the calculator decide what I can afford?

It takes your monthly income before taxes, multiplies it by your debt-to-income limit and subtracts your other monthly debts. What’s left is the most you could spend on housing each month. It then finds the highest price whose full payment, including tax, insurance, HOA and mortgage insurance, fits that number.

What debt-to-income ratio do lenders use?

Many lenders consider total debts of about 36% of gross income comfortable, and many programs approve up to about 43% to 45%, sometimes more with strong credit or savings. Each lender and loan type sets its own limits. A lower ratio leaves more room in your monthly budget.

What counts as a monthly debt?

Payments that show up on your credit report or a court order: car loans, student loans, minimum credit card payments, personal loans, and child support or alimony. Rent you’ll stop paying, utilities, phone bills and groceries don’t count.

Is there help with the down payment in Florida?

Florida Housing Finance Corporation and some counties offer down payment and closing cost assistance for eligible buyers, often first-time buyers. Income limits and rules vary by program. I can point you to lenders who work with them.

Is this the same as a pre-approval?

No. This is an estimate from the numbers you enter. A lender’s pre-approval checks your credit, income and assets, and it’s what sellers expect to see with an offer.

Can you help me find a home in my range?

Yes. I help buyers across St. Lucie, Martin, Indian River and Brevard counties. Call or text (772) 800-CASH (2274) or email Homes@williammerchant.com.