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Mortgage tools

Home Affordability Calculator

Start with a comfortable all-in housing payment and estimate the Florida price range and purchase cash to plan for.

An example is loaded so you can see how the tool works. Change any number to make it yours. Already have a price? Estimate that property’s payment.

Calculate my price range

Principal and interest, property tax, homeowners and flood insurance when applicable, mortgage insurance, HOA and CDD. Unknown property costs stay identified below.
Loan program
Not sure is okay. This result uses a conventional planning example without suggesting you qualify for it.
Enter down payment as
This program is modelled from a 3% down floor; additional eligibility rules may apply.
Your editable planning assumption—not a quote, current offer, rate lock or APR.
Mortgage insurance

Estimated working home price

$502,242

Compare roughly $448,670–$502,242: the lower figure uses 90% of your payment target; the upper uses the full target under the shown assumptions.

Program assumptionConventional

Program not chosen; this is a planning example, not an eligibility decision.

Comfortable payment target$3,200
Modelled all-in payment$3,200
Down payment$100,448 (20.0%)
Remaining settlement funds—

Unknown until you add prepaid/escrow, deposit and credit details below.

Cash retained after purchase—

Unknown until paid-before-closing and available-cash details are entered.

See the payment and cash breakdown
Base loan amount$401,794
Total modelled loan amount$401,794
Principal and interest$2,540
Property taxes$460
Homeowners insurance$200
Flood insurance—

Not entered and not included in the result.

HOA dues—

Not entered and not included in the result.

CDD charges—

Not entered and not included in the result.

Monthly mortgage insurance$0
Modelled all-in payment$3,200
Costs paid before closing—
Down payment$100,448
Estimated closing and settlement costs$12,556
Prepaids and initial escrow—
Deposit already paid—
Seller/lender credits—
Remaining settlement funds—
Lender-required reservesNot calculated

If required, the lender confirms the amount during underwriting. This is separate from cash due at closing and your desired cushion.

Note: This is a planning estimate, not a pre-approval, an approval amount, or an ability-to-repay determination.

Note: Still unknown and temporarily excluded: flood insurance, HOA dues, CDD charges. Add them below when known; the tool does not present those blanks as confirmed $0 costs.

Start your pre-approval

Planning estimate only — not a loan offer, rate quote, approval, or commitment to lend. Rates you enter are assumptions, not APRs.

Refine property and cash details

Optional refinements update the result above. Clear a value when it is unknown; the cash ledger will keep that item unknown instead of silently calling it zero.

Property costs

The tax percentage and homeowners figure are editable example assumptions. Address-specific figures are more useful when you have them.

Leave blank when unknown; it will remain excluded and identified in the result.
When selected, the calculator does not add the separate CDD field, preventing a double count.
Cash timing

Use estimated amounts only when you have a reasonable basis. Deposits and credits reduce what remains due at settlement; they are not counted twice.

Inspection, appraisal or other purchase costs not already included above.
Subject to contract, program and lender limits.
Your personal cushion—not lender-required reserves.

How to read this result

Comfort and qualification are different
This tool changes price until the modelled payment fits your budget. A lender separately reviews income, debts, credit, assets, program rules, the property and underwriting conditions.
DTI is an underwriting ratio
Debt-to-income ratio divides qualifying monthly debts plus proposed housing expense by gross monthly income. For example, $1,000 of debts plus $3,000 of housing divided by $10,000 gross income is 40%. Underwriting decides which income and debts count; this comfort tool does not.
PMI does not simply end at current equity
For many covered conventional principal-residence loans, cancellation may be requested at a scheduled 80% balance of original value when conditions are met; automatic termination generally uses the scheduled 78% point and current-payment conditions. FHA, VA, lender-paid and other cases follow different rules.
Unknown property costs stay visible
Blank flood, HOA or CDD inputs are temporarily excluded so a price can be modelled, but the result names every exclusion. Add address-specific tax and insurance figures before relying on an offer budget.

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Assumptions, method and disclosures

What this calculator assumed
  • The page opens with an example: $3,200 a month, 20% down, a conventional planning assumption, a 30-year term, a 6.500% user-entered rate assumption, 1.10% annual property tax and $2,400 annual homeowners insurance.
  • The interest rate is a planning input. This calculator does not request current pricing and does not display an APR, points, lender credit or rate lock.
  • A percentage down payment scales with solved price. A dollar down payment stays fixed and the price remains subject to the selected program's modelled minimum-down requirement.
  • Flood insurance, HOA and CDD remain unknown and excluded until entered. Selecting that tax already includes CDD prevents a second CDD charge.
  • Cash paid before closing, the deposit already paid, credits, remaining settlement funds, retained cash and lender-required reserves are separate rows. Blank cash allowances remain unknown.
  • Florida property. Mortgage Expert, Inc. originates loans on Florida property only. No income, debts, credit pull or debt-to-income qualification is used or implied.
How the numbers are calculated

This tool starts from a payment you choose. It is not a pre-approval, an approval amount, or an ability-to-repay determination.

It does not tell you what you can be approved for.

Actual eligibility depends on verified income, debts, credit, assets, the loan program, the property, and underwriting.

Private mortgage insurance is an estimate. Actual PMI is priced by the insurer from credit, loan-to-value, loan amount, term, occupancy, coverage, and whether the premium is borrower- or lender-paid.

The solver searches for the purchase price whose principal and interest plus the entered or modelled tax, homeowners insurance, flood insurance, HOA, CDD and applicable mortgage insurance fit the chosen payment. The payment count follows the selected term. Program charges use the same payment model as the Mortgage Payment Calculator; no separate pricing engine is created here.

Where the program figures come from

This is a planning estimate, not a loan offer, rate quote, approval, pre-approval, or commitment to lend.

Interest rates you enter here are assumptions, not APRs.

Results depend entirely on the inputs and assumptions above.

Your official Loan Estimate and Closing Disclosure control the actual terms of any loan.

Mortgage Expert, Inc. originates loans on Florida property only. Minimum loan amount $100,000.