Mortgage Affordability Calculator
How Do I Calculate My Affordability?
Monthly Income × DTI% = Max Housing Budget
Your maximum home price is based on the highest monthly housing payment (including mortgage, taxes, and insurance) that fits within your target debt-to-income (DTI) ratio.
Learn About Each Affordability Input
Annual Income
Your total pre-tax yearly earnings. Combine incomes if you’re buying with a co-borrower.
Example: Two buyers earning $60,000 and $40,000 per year = $100,000 total.
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Total Monthly Debts
Recurring payments like car loans, student loans, and credit cards.
Example: $250 car payment + $50 minimum credit card payment = $300 total.
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Down Payment
Money you pay upfront toward the home purchase.
Example: 20% of a $400,000 home = $80,000 down.
A larger down payment lowers your monthly payment and can remove PMI.
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Debt-to-Income Ratio (DTI)
Your total monthly debt divided by your gross monthly income, expressed as a percentage.
Most lenders prefer 36% or less. Use our DTI Calculator to estimate yours.
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Interest Rate
The percentage charged by your lender for borrowing money. Even a 0.5% difference can significantly affect your monthly payment.
Rates vary based on your credit score and down payment.
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Loan Term
The period you’ll repay the loan (usually 30 years). Shorter terms like 15-year loans reduce total interest but increase monthly payments.
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Property Tax
Property taxes are based on your home’s assessed value.
On the Treasure Coast, the average effective property tax rate is around 1.0%, though it varies by municipality.
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Homeowner’s Insurance (HOI)
Protects your home and belongings from damage.
On average, expect $100–$200 per month in Martin County or St. Lucie County.
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Private Mortgage Insurance (PMI)
Applies if your down payment is under 20%. PMI protects the lender, not the borrower, but it can usually be removed once you reach 20% equity.
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Homeowner’s Association (HOA) Dues
Monthly fees charged by communities (like condos or gated neighborhoods). These can range from $100–$400 per month on the Treasure Coast.
Factors That Impact Affordability
Your affordability depends on several key variables:
• Income & Debts — Higher income or lower debt increases what you can afford.
• Down Payment — Bigger down payments reduce loan size and eliminate PMI.
• Interest Rate — Lower rates mean lower monthly payments.
• Loan Term — Shorter loans cost less overall but raise monthly payments.
• Location — Property taxes and insurance rates differ across Martin County, St. Lucie County, and the Treasure Coast.
Getting pre-qualified with Zarro Mortgage Group is the best way to see your exact numbers and discover loan programs that match your goals.
Frequently Asked Questions About Affordabilitys ?
How much home can I afford on the Treasure Coast?
It depends on your income, debt, and down payment. Most homebuyers in Martin County and St. Lucie County can afford a home that’s 3–4× their annual income, assuming a 36% DTI and a moderate down payment.
What’s a good debt-to-income ratio for buying a home?
A DTI under 36% is ideal, but some loan programs allow up to 45%. Lower ratios usually qualify you for better rates and higher loan limits.
How does my down payment affect affordability?
A higher down payment reduces your loan amount, monthly payments, and PMI costs — making homes more affordable in the long run.
What is included in the monthly payment?
Your total housing payment includes principal, interest, property taxes, homeowner’s insurance, and sometimes PMI or HOA dues.
Can I afford a home in Martin County with $80,000 income?
Depending on your debt and down payment, yes. At today’s rates, an $80,000 income could support a home price around $350,000–$400,000 in Stuart or Jensen Beach.
Do property taxes vary across the Treasure Coast?
Yes — property tax rates differ between Martin County, St. Lucie County, and Indian River County. Always include estimated taxes in your affordability calculation.
How can Zarro Mortgage Group help me find my price range?
Our team uses your financial details to pre-qualify you and match you with the best loan programs available on the Treasure Coast.
Use our calculator to get a rough estimate, then contact us for personalized options.
Buy your next home with a local lender you can trust
Skip the big banks and online gimmicks. With Zarro Mortgage Group, you get real people, real answers, and real results — right here on the Treasure Coast.
We’ll help you get pre-qualified quickly, so you can shop for your dream home with confidence and clarity.