Home Affordability Calculator
Before you fall in love with a listing, let's pin down the home price that genuinely fits your budget.
What This Calculator Does
It takes your income, your current monthly debts, and the down payment you've saved, then measures them against the debt-to-income benchmarks lenders live by — landing on a home price range that's realistic for you.
Who Is This For
This is for buyers who want their search anchored to a firm, honest budget, for anyone taking their very first look at homeownership, and for shoppers ready to understand what they can truly spend in the Miami market.
How It Works
Enter your annual income, what you pay each month toward debt, the down payment you have ready, the interest rate you're expecting, and the loan term you'd like. The calculator hands back the highest home price you can carry comfortably.
Frequently Asked Questions
What debt-to-income ratio do lenders use?
As a rule, lenders like to see a total DTI no higher than 43%, and they prefer your housing costs — mortgage, taxes, and insurance together — to land within 28-31% of your gross income.
Does this include property taxes and insurance?
What you see here reflects principal and interest only. I'd plan on setting aside another 1-2% of the home's value every year for taxes and insurance.
How does my credit score affect affordability?
A healthier credit score opens the door to lower interest rates, and that stretches your budget directly. Even a 1% improvement in your rate can shift your purchasing power in a way you'll feel.
Should I buy at my maximum affordability?
Stretching to the very top of your range leaves almost no room for surprises. Aiming a little below your ceiling keeps a financial cushion in place for emergencies, upkeep, and the everyday cost of living.