How Much House Can You Afford?
Based on your income, debts, and down payment, with Jacksonville-specific property taxes and Florida hurricane insurance built in.
Car, student loans, credit card minimums
You Can Afford
$0
Conservative estimate · 28/36 DTI
Safer (28/36 rule)
$0
Max payment: $0/mo
Stretch (43% DTI)
$0
Max payment: $0/mo
Includes FL property tax (0.83%) + hurricane insurance ($2,800/yr). Actual affordability depends on credit score and lender.
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Frequently Asked Questions
What is the 28/36 rule?
A common mortgage guideline: housing costs should be no more than 28% of your gross monthly income (front-end ratio), and total debt payments should not exceed 36% (back-end ratio). Many lenders will stretch to 43% DTI for qualified borrowers.
What counts as monthly debt?
Include car payments, student loans, minimum credit card payments, personal loans, alimony, and child support. Do NOT include groceries, utilities, insurance, or discretionary spending, those are considered in your remaining 64% of income.
Does this include Florida property taxes and insurance?
Yes. This calculator assumes Duval County's 0.83% property tax rate and $2,800/year Florida homeowners insurance (typical for Jacksonville). Your actual affordability may be higher in lower-tax counties or with a lower insurance quote.
Should I buy at my maximum affordability?
Usually no. The 'conservative' number is a safer starting point because it leaves room for repairs, emergencies, and lifestyle. The 'aggressive' number shows what lenders may approve, but stretching to your limit can lead to being 'house poor.' Talk through your situation with Keneshia.
Does my credit score affect affordability?
Indirectly, your credit score determines your interest rate, which directly impacts how much house you can afford. A 60-point score improvement can raise your buying power by $20,000-$40,000 on a Jacksonville home.