Florida affordability isn't what national calculators tell you. Insurance and HOA dues can noticeably lower your real qualifying number. This tool runs the math with realistic FL costs included.
Lenders qualify you primarily on debt-to-income (DTI) - your total monthly debts divided by gross monthly income. Most conventional loans cap DTI at around 45% (some allow 50% with strong compensating factors). FHA and VA can stretch higher.
This calculator backs into the maximum monthly housing payment you can afford given your income, existing debts, and target DTI - then converts that to a maximum purchase price using your assumed rate and Florida tax/insurance estimates.
Assumes 30-year loan. Adjust tax and insurance rates above for your specific property - coastal FL insurance is typically 1.0–2.0%+. Lender approval depends on credit, asset reserves, and property type.
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Most national calculators assume average property tax (~1.1%) and average insurance (~0.35%). Florida averages 0.86-1.0% on tax - close enough - but insurance is far above the national average, especially in coastal counties.
That higher PITI eats into your DTI. A buyer who could afford $500K of home in Tennessee might only qualify for $440K in coastal Florida at the same income. The house didn't get more expensive - the carrying cost did.
Pre-approval gets you a real qualifying number based on actual credit, income docs, and current rates.