Mortgage, work backwards, affordability checker. Pick whichever way you want to think about it.
Enter a home price - see your real monthly payment.
Not all mortgages are created equal. Here's what you actually need to know about each one.
The standard loan most buyers use. Sold to Fannie Mae and Freddie Mac.
Everyone says “put 20% down” - but is that actually the best move for you? Here's what different scenarios look like on a $450,000 home.
PMI applies until 20% equity
PMI applies until 20% equity
No PMI. Best long-term rate.
Lower payment, better rate
Florida is different. Insurance is expensive, property taxes vary wildly by county, and flood zones can make or break a deal.
Florida's insurance market is in crisis. Premiums have doubled in some areas. Get quotes before you buy.
Even outside flood zones, lenders increasingly require coverage. Zone AE makes it mandatory.
Tampa Bay rates vary by county. Hillsborough averages 1.5%, Pinellas higher, Pasco lower.
Required for most insurance discounts. $75-$150 once.
Required by most carriers for homes over 25 years old.
Required for VA, often requested by other lenders. Florida termites are real.
Banks will approve you for more than you should spend. That's not a conspiracy - it's just math.
Your total housing payment (PITI) shouldn't exceed 28% of your gross monthly income.
Total monthly debt (housing + cars + cards + student loans) should stay under 36% of gross income.
Most conventional lenders cap DTI at 43%. Above that, you're getting denied or paying a premium.
The stuff people actually want to know - not the stuff lenders put in fine print.
Ask away. We read every one.