Estimate my monthly mortgage payment
Your Payment: $0.00
Principal & Interest: $0.00
Taxes & HOA: $0.00
Home Insurance: $0.00
Total Monthly: $0.00
DTI: 0.00%
Your
Payment0.00
Payment0.00
P&I: $0.00
Taxes: $0.00
Insurance: $0.00
HOA: $0.00
Important to Know
What Really Determines Your Buying Power
This calculator gives you a strong starting estimate. But qualifying for a mortgage in South Florida involves several layers your lender will evaluate together. Here is what actually matters:
01
Debt-to-Income Ratio
Your monthly debts divided by your gross income. Most lenders prefer under 43%, though some programs allow up to 50%. This is often the deciding factor.
02
Credit Score
Conventional loans typically require 620 or higher. Jumbo loans for luxury properties often require 700 or above. Your score also affects your interest rate directly.
03
Employment & Income History
Lenders prefer 2 or more years in the same field. Self-employed buyers, those with multiple income streams, or commission-based earners require additional documentation.
04
Loan Type
Conventional, FHA, VA, DSCR, Jumbo, Bank Statement loans, and more. Each has different rules, rates, and qualification thresholds. The right loan type changes everything.
05
Down Payment
Ranges from 3.5% (FHA) to 20 or 25% (Jumbo). A larger down payment often unlocks better rates and removes PMI. Gift funds and down payment assistance programs may also apply.
06
Assets & Reserves
Most lenders want to see 2 to 6 months of mortgage payments in savings after closing. Investment accounts, retirement funds, and liquid assets all factor in.
Bottom Line
Every buyer's situation is unique. The calculator gives you a ballpark. A great lender gives you a roadmap. That is the difference between guessing and knowing.
Ready for Your Real Numbers?
Know Your Buying Power Before You Search
We work with Kings of Lending, a South Florida mortgage team that specializes in creative financing solutions for buyers at every level. Get a real pre-qualification, not just an estimate.
No cost. No obligation. Just clarity on what you qualify for.