Central Florida Affordability Calculator
What can you actually afford? Two numbers turn into a real estimate, with honest Central Florida taxes and insurance built in. Move the sliders.
Before taxes, about $108,000/year.
Car loans, credit cards, student loans, personal loans, and child support. Not rent or utilities.
Defaults to a typical rate. Adjust it if you have a quote.
Common on condos and townhomes. It lowers what you can afford.
Annual, as a share of price. Varies by county and by the homestead exemption.
Annual, as a share of price. Roof age is the biggest swing factor in Florida.
You can comfortably afford
$313,000
$2,520/mo · 36% · Conventional · 5% Down
Could stretch to $415,000 · $3,350/mo · 45%
- Principal & Interest (6.5%)
- $1,877
- Property Tax (1.1%)
- $286
- Insurance (0.8%)
- $208
- $148
- HOA
- $0
- Down Payment (5%)
- $15,627
- Closing Costs (~3%)
- $9,376
Your debt is the limit right now, not your income.
At this debt level there isn't a comfortable price to show. Paying down what you owe each month is the highest-leverage next step: it lowers your debt-to-income and opens up real options. The readiness quiz below maps out how.
Every payment already includes real Central Florida property tax and insurance, the costs national calculators leave out.
Debt-to-Income (DTI)
All your monthly debt, the house payment included, as a share of your gross income. It's the main number a lender uses to size your loan.
Comfortable holds two limits: the house payment under 28% of income, and total debt under 36%. Whichever binds first sets the price, so with little debt it can read below 36% and never goes above it.
Stretch drops the 28% limit and pushes to the conventional ceiling instead (about 45%), where the payment runs tight.
Mortgage Insurance (PMI)
An added monthly charge when your down payment is under 20%. It protects the lender, not you. Put 20% down and you skip it.
Conventional loans call it PMI. This tool assumes 0.85% at 3% down and 0.6% at 5%; your real rate depends on your credit score and can run higher. It drops off once you owe less than 80% of what you paid for the home.
What about FHA?
This tool prices conventional loans only, at three down payments, so the one thing changing between them is how much you put down.
FHA is a real option and a common one for first-time buyers. It is government-backed, easier on credit, and it allows more debt than conventional does, so it can approve a price above anything shown here. The trade is its mortgage insurance, which usually lasts the life of the loan instead of dropping off at 20% equity.
FHA also caps the loan by county and those limits change yearly, which is why it belongs in a lender conversation rather than a slider. Read the mortgage guide
Your Monthly Payment
Comfortable keeps your debt-to-income (total monthly debts as a share of income) near 36%. The stretch pushes to about 45%, where the payment runs tight.
Private mortgage insurance (PMI) is part of the payment now, but it drops off once you owe less than 80% of what you paid for the home, so it is not forever. The rate is lower than at 3% down because you are borrowing less of the home.
Cash to Start
More cash up front than 3% down, and no first-time-buyer or income condition attached to it. That is the trade.
Treat it as the most you'd bring to the table, not a fixed bill. Seller credits and down payment assistance can lower it.
You know your number. Are you ready?
The calculator shows what you can afford. The 3-minute quiz shows where you actually stand and the exact next step from here. See your result free.
Take the 3-Minute QuizQuestions buyers ask here
No. Treat it as a starting estimate. Your real number comes from a lender who reviews your credit, income history, and the specific home. Getting pre-approved is usually the next step, and it turns this estimate into a number you can shop with.
DTI is your monthly debt payments divided by your gross monthly income, and it's the main number a lender uses to size your loan. Lenders look at it two ways: a front-end ratio (just the house payment) and a back-end ratio (all your debt including the house). The price shown here is the comfortable target: housing near 28% of income and total debt near 36%, which leaves more cushion. Conventional can go to about 45%, which shows up as the 'you could stretch to' figure. Your existing debt counts toward those limits, so the less you owe each month, the more home fits.
A smaller down payment means a bigger loan and a higher mortgage insurance rate, so each dollar of your payment buys less home. That is why 3% down shows a lower price than 5% even though the income is the same. A higher interest rate doesn't change what a lender will approve, but it does make each dollar of payment buy less home, which is why the price drops as you slide the rate up.
Everything, itemized. Principal and interest is the mortgage itself and the biggest piece. On top of it sit property tax, homeowners insurance, mortgage insurance (if the loan has it), and any HOA fee. National calculators tend to bury those or skip how high Florida insurance runs. The lines add up to the total, so nothing is left out.
Two one-time costs at closing: your down payment (3%, 5%, or 20% here) and closing costs, estimated at about 3% of the price. Treat it as the most you'd bring to the table, not a fixed bill. Seller credits and down payment assistance can lower it, which is where a good agent and lender earn their keep.
Short on savings right now? 3% down gets you in with the least cash, though it carries the highest mortgage insurance rate and needs either a first-time buyer on the loan or an income under the HomeReady limit. Have a cushion and want the most home for your budget with no mortgage insurance? 20% down. Five percent sits in between with no eligibility strings. There's no single best option. The right one depends on your credit, the home, and your goals, which is what a good lender helps you sort out.
Prefer to talk to a person?
Leave your info and I'll reach out. Some things don't fit on a slider: a co-borrower, a move-in date you can't miss, a neighborhood you already have your eye on. That's what a conversation is for.
This is an educational estimate, not a loan offer, pre-approval, or a promise of financing. It assumes a 30-year fixed loan, property tax of 1.1% and homeowners insurance of 0.8% of price per year, both adjustable above and defaulting to typical Central Florida figures. Your actual numbers depend on your credit, the property, current rates, and a lender's review. Axel Rivera is a licensed real estate agent, not a lender. Equal Housing Opportunity.