VA Mortgage Calculator in Florida and South Carolina

How much can I afford? Find out with the Booyah Mortgage VA home mortgage affordability calculator.

This mortgage calculator can help you to quickly estimate the monthly payments for the total loan amount, and ensure that it fits your budget. Keep in mind that this tool is simply used as a self-help tool and to give you an idea of monthly payments. Interest rates may be subject to change, and the actual loan terms may vary based on your unique circumstances.


VA Mortgage Calculator

VA Loan Calculator

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After your documents are in order, Booyah Mortgage will help lenders officially calculate how much you can afford based on your information. This includes income, debt payments, and down payment amount. Note that with VA mortgages, down payments aren’t a necessary requirement!

With VA Loans, lenders typically use debt-to-income ratios and credit history to determine how much you can afford to borrow for a home.

Debt-to-income ratios

Typical mortgage lenders use one or two types of debt-to-income ratios. These include front-end ratios and back-end ratios.

  • Front-end ratios determine how much of your income will be used to make mortgage payments. This means the total house payment, including principal, interest, taxes, and insurance. The rule most lenders use is that your mortgage payment should not be more than 28% of your income before tax.
  • Back-end ratios determine what portion of your income is used to pay all debts, including your mortgage. This covers all other monthly debt payments, such as car loans, student debts, and minimum monthly credit card payments. Usually lenders want to see a back-end ratio of 36% or less.

With VA Loans, however, lending guidelines and rules can be much more flexible, so these typically preferred ratios are not set in stone. At Booyah Mortgage, we’ll make sure you know how much you can comfortably afford, and we’ll work with lenders to get you qualified.

Credit history

As with all lending underwriting, your credit report and history will be a factor. If your credit history is good, you’ll qualify for lower rates, and therefore larger loans. In most instances, a credit score of 740 or higher will qualify for the best rates. However, because VA Loans are partially guaranteed by the government, credit scores are not as much of a deciding factor, and lenders are more likely to be flexible and make exceptions.

A mortgage you can afford while living comfortably

There are some factors that the lender won’t take into consideration, such as your standard of living expectations (i.e. how much you like to spend on food and dining out, clothes, private school for kids, etc.). It’s important that you remember not to take on a payment that would put undue financial stress on you or your family. At Booyah Mortgage, we take care of our nation’s veterans. We can help you decide what you can afford to pay each month, while maintaining the quality of life you deserve.

Our Mission

“A “Veteran”- whether active duty, discharged, retired, or reserve- is someone who, at one point in his life, wrote a blank check made payable to “The United States of America,” for an amount of, “up to, and including his life.”  That is honor.  And there are way too many people in this country today, who no longer understand that fact.  Our mission is to ensure that we give back to those who wrote that check.”  –  Shane Johnson

Booyah Mortgage servicing Veterans across Lake Mary, Orlando, Jacksonville, Pensacola, the Gulf Coast. and ALL of Florida

Questions about VA home loans and the right mortgage for you and your family?
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Booyah Mortgage VA lender Lake Mary FL

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Booyah VA Mortgage Florida service areas include: Brevard, Clear Water, Duval, Jacksonville, Fort Walton Beach, Key West, Lake Mary, Lynn Haven, Mary Esther, Miami, Miami Beach, Milton, Orlando, Panama City, Panama City Beach, Pensacola, Starke, Tallahassee, Tampa, Valparaiso, West Palm Beach, and all of Florida.