Mortgage Affordability Calculator
Find out what you can actually afford — monthly payment, max home price, and your debt-to-income at any price point. Defaults tuned for Florida.
$100,000
Live Freddie Mac PMMS · 6.47% · as of Jun 18, 2026
Adjusts the rate via Fannie/Freddie LLPA matrix
Monthly Payment (PITI + HOA)
$3,292
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PITI: Principal, Interest, Taxes, Insurance
Your real monthly housing cost isn't just the mortgage payment. PITI bundles the four non-negotiable monthly costs of ownership: principal + interest (the mortgage itself), property tax (escrowed by your lender), and homeowner's insurance. Condo and HOA buyers add fees on top. Most lenders qualify you on PITI + HOA, not just principal and interest.
Debt-to-Income (DTI)
DTI is the share of your gross monthly income going to housing. Under 28% is comfortable (the traditional front-end rule), 28–36% is workable, above 36% is where most conforming lenders refuse to qualify you without compensating factors. Jumbo and non-QM loans sometimes flex higher.
Florida-specific inputs
We default property tax to 1.1% (Florida statewide average), insurance to $350/month (post-2023 Florida average for a single-family home; condos with good reserves run lower, coastal SFHs run much higher), and HOA to $0 (most Florida condos run $400–$1,500/month — use our HOA guide for current data by neighborhood). Homestead exemption can reduce the tax portion significantly — see our property tax calculator for that math.
Down Payment
20% is the traditional conforming-loan threshold — below that you pay PMI (private mortgage insurance). Florida-specific caveat: condo financing requires the building to be Fannie/Freddie-approved, and many aging South Florida buildings are not, which pushes buyers into cash or portfolio loans with 25–30% down. Ask about the building's warrantability before anchoring on a down-payment assumption.
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