Three numbers in, a real estimate out, with honest Central Florida taxes and insurance built in. Move the sliders.
Before taxes.
Car loans, credit cards, student loans, personal loans, and child support. Not rent or utilities.
A starting estimate.
Common on condos and townhomes. It lowers what you can afford.
Your existing debt leaves plenty of room for a mortgage payment. The next move is turning that into a real plan and a pre-approval.
Same income, three down payments. Less cash now usually means a higher monthly payment.
Estimated home price
$320,000–$335,000
$11,733 down + $10,057 closing
Inside the monthly payment
Lowest cash to start. Mortgage insurance (MIP) usually stays for the life of the loan, so the monthly cost runs higher.
Estimated home price
$295,000–$310,000
$15,467 down + $9,280 closing
Inside the monthly payment
A bit more cash than FHA. PMI drops off once you reach 20% equity, so it is not forever.
Estimated home price
$355,000–$375,000
$74,964 down + $11,245 closing
Inside the monthly payment
The most cash upfront, but no mortgage insurance at all. Lowest monthly payment and the strongest offer to a seller.
Every payment already includes real Central Florida property tax and insurance, the costs national calculators leave out.
Sticker shock on the cash to start?
That's the full-price scenario, not the floor. Down payment assistance programs and seller-paid closing costs can lower what you actually bring to the table. This is where a good agent and lender earn their keep: finding the programs you may qualify for and structuring the offer to capture those credits.
Short on savings right now? FHA or 5% down get you in with the least cash. Have a cushion and want the lowest monthly payment? 20% down. There's no single best option. The right one depends on your credit, the home, and your goals, which is exactly what a good lender helps you sort out.
Treat this as a starting estimate, not a pre-approval. Your real number comes from a lender who reviews your credit, income history, and the specific property. Getting pre-approved is usually the next step, and it turns this estimate into a number you can shop with.
Because you borrow less of the price and skip mortgage insurance entirely. More of your monthly budget goes toward the home itself instead of the extra costs on the loan, so the same payment stretches further.
Not necessarily. These are ceilings, not targets. Plenty of buyers shop a little under their max to keep a cushion for repairs, furniture, and life. The goal is a payment you feel good about, not the biggest one a lender allows.
An estimate gets you oriented. A plan gets you to the keys. Take the 3-minute readiness quiz for a personalized next step, or grab the 10-step roadmap and start working it today.
This is an educational estimate, not a loan offer, pre-approval, or a promise of financing. It assumes a 30-year fixed loan and typical Central Florida property tax (1.0%) and homeowners insurance (~1.0% of price per year). Your actual numbers depend on your credit, the property, current rates, and a lender's review. Axel Rivera is a licensed REALTOR®, not a lender. Equal Housing Opportunity.