How Much Home Can You Afford?
Use the 28% front-end DTI rule to estimate the maximum home price you can qualify for. Adjust the sliders to match your situation.
Your Finances
Maximum Affordable Home Price
$292,155
Loan Amount
$252,155
Monthly P&I
$1,594
Total PITI
$1,983
Monthly Payment Breakdown
Your DTI Snapshot
Front-End DTI (housing only)
28%
Back-End DTI (all debts)
35.1%
Most lenders cap back-end DTI at 43-50%. If yours exceeds 43%, you may need to reduce debts or increase income to qualify.
How This Calculator Works
This calculator uses the 28% front-end DTI rule — the standard guideline most lenders follow. Your total monthly housing payment (principal, interest, property tax, and insurance) should not exceed 28% of your gross monthly income.
The formula: We take 28% of your gross monthly income as the maximum housing payment, then work backward to find the highest home price where your PITI payment stays within that limit — accounting for your down payment, interest rate, and local tax rate.
Insurance estimate: We use 0.5% of home value annually as a baseline for Florida homeowners insurance. Actual premiums vary significantly — new construction homes typically get lower rates due to modern building codes and hurricane-rated features.
Important: This is an estimate. Actual qualification depends on credit score, loan program (FHA allows 31% front-end DTI), reserves, and lender overlays. Builder lender incentives can also stretch your buying power.
Get Pre-Approval Guidance
Barrett connects you with trusted local lenders who specialize in new construction financing — including builder incentive programs that can save you thousands.
Barrett Henry, REALTOR® — REMAX Collective