Short answer
Debt-to-income, front-end and back-end ratios, and Florida-specific costs that shape your budget.
Most lenders target a front-end ratio (housing payment ÷ gross income) at or below 28%, and a back-end ratio (all debts ÷ gross income) at or below 43%. Some programs allow higher.
The 28/43 guideline
Most lenders target a front-end ratio (housing payment ÷ gross income) at or below 28%, and a back-end ratio (all debts ÷ gross income) at or below 43%. Some programs allow higher.
Florida-specific costs matter
Homeowner's insurance and windstorm coverage in coastal Florida can add hundreds per month. Flood insurance may be required in specific FEMA zones. Get real quotes before finalizing your budget.
Reserves and lifestyle buffer
Aim to keep 2–6 months of housing payments in reserve after closing, and leave room in your monthly budget for maintenance, utilities, and life goals.
Key takeaways
- Housing under ~28% of gross income is a healthy target.
- Insurance can significantly change your Florida payment.
- Keep reserves after closing.
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Sources
Program rules change and individual lender overlays apply. Verify specifics with the agency or with a licensed NexGen Capital advisor before relying on them.
Reviewed by NexGen Capital Corp
Written and reviewed by the licensed mortgage team at NexGen Capital Corp, a Florida mortgage brokerage (NMLS #1766649). Verify our license on NMLS Consumer Access.
Last reviewed: 2026
This article is educational and is not a commitment to lend or an offer of credit. Speak with a licensed NexGen advisor about your own situation.