Your Finances
We'll use this to estimate what you can afford before you even pick a property.
Before taxes, all borrowers combined
Car, student loans, credit cards, etc.
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Your Rough Pre-Approval
$428,467
Based on your income and debts, a lender would likely approve you for a home around this price with FHA financing.
Current DTI
7.1%
DTI Headroom
49.8% remaining
Max Housing Payment
$3,483/mo
Loan Type
FHA (3.5% down)
Assumes good credit, FHA at 6.25%, ~2.5% annual costs. Does not include rental income offset. This is an estimate — get pre-approved with a lender for exact numbers.
Property & Loan Details
Min 3.5% for FHA
30-year fixed rate (FHA avg ~6.25%)
Rental Income
Want more accurate numbers?
We're estimating ~$4,200/yr taxes and ~$3,600/yr insurance. Adjust these if you know the actuals.
Results
$428,467
Estimated max price before rental offset
This could work!
The rental unit offsets 51% of your payment — the lender credits $1,500/mo, bringing your net housing cost to $1,423/mo.
At 27.5% DTI, you're well within the 56.9% limit.
$2,923
Monthly payment
27.5%
Max 56.9%
$923
After full rent collected
$1,500
75% of rent
Payment Breakdown
Using estimated costs (~$4,200/yr tax, ~$3,600/yr insurance). Click "Fine-Tune" on the left to adjust.
Want us to run real numbers?
Send us a listing and we'll help you figure out if it works for house hacking.
Book a Call With UsADU vs. Duplex: What Florida Buyers Need to Know
The #1 Thing Most Buyers Miss
How Lenders Calculate Rental Income
When you buy a duplex (multi-family zoned), lenders treat it as a true multi-unit property. FHA and conventional guidelines allow you to count 75% of the rental income from the other unit to help you qualify, with no cap on how much of your total income that represents. The 25% haircut accounts for vacancy and maintenance.
An ADU on a single-family lot is treated differently. The lender first applies a discount factor — 75% of rent if you have an existing lease (50% under FHA if no rental history). But then there's a second restriction: the resulting ADU income cannot exceed 30% of your total qualifying income. This two-step rule, established by FHA Mortgagee Letter 2023-17 and Fannie Mae SEL-2025-08, exists because the property is still classified as a one-unit home and the ADU income is considered supplemental, not core.
Duplex
$2,000/mo rent × 75% = $1,500/mo qualifying income (no cap)
ADU
$2,000/mo rent × 75% = $1,500 → capped at 30% of your income
You Need a Lease
For multi-family properties (duplex, triplex, quadplex), lenders require a current, signed lease on the rental units to count any income at all. No lease means the lender treats the rental income as $0. ADUs are slightly different — lenders can use an appraiser's estimated rent, but having a lease still gets you a better discount factor.
The FHA Self-Sufficiency Test (Triplex & Quadplex)
If you're financing a 3-unit or 4-unit property with FHA, the property itself must be able to pay for itself. Here's the test:
- Appraiser estimates fair market rent for all units (including yours)
- That total is multiplied by 75% (25% vacancy/maintenance factor)
- The result must be ≥ your total PITI payment
If it fails, the FHA loan is denied — no exceptions. Your options are to switch to conventional financing (no self-sufficiency test), increase the down payment to lower PITI, or find a property with higher rents.
This test does NOT apply to duplexes, and conventional loans never require it regardless of unit count.
Reserve Requirements
Multi-unit properties require you to have cash reserves in your account after closing. This is money the lender wants to see as a safety net.
FHA
1-2 units: No reserves
3-4 units: 3 months PITI
Conventional
1 unit: Varies
2-4 units: 6 months PITI
How to Check a Property's Zoning (Florida)
- 1County Property Appraiser website — Search the address on your county's property appraiser site. In Pinellas County, that's pcpao.gov. Look for the "Land Use" or "Zoning" field.
- 2City zoning map — Most Florida cities publish interactive zoning maps. St. Petersburg's is at the city's GIS portal. Look for RM (Residential Multi-Family) vs. RS (Residential Single-Family) designations.
- 3MLS listing details — The MLS often lists "Property Sub Type" or "Zoning." If it says "Single Family" with an ADU mention, it's likely SFR zoned. "Duplex" or "Multi-Family" indicates multi-family zoning.
- 4Ask your agent — A good buyer's agent will verify zoning before you write an offer. This is exactly what we do for our clients relocating to Tampa Bay.
Florida-Specific Considerations (2026)
- Florida SB 48/HB 313 (effective July 1, 2026) will require all 67 Florida counties to allow ADUs by right in single-family zones. St. Petersburg and Pinellas County already permit ADUs. However, zoning classification for lending purposes still matters — even if your city allows ADUs, the lender uses the zoning code on record to determine rental income treatment.
- No state income tax means your gross monthly income goes further in Florida. This helps your DTI ratio compared to states with income tax.
- Flood insurance can significantly impact your monthly payment. Many Tampa Bay properties fall in flood zones. Factor this into your calculations above.
- Homeowners insurance costs in Florida have risen significantly. Get quotes early — the number can make or break a house hack.
- Homestead exemption reduces your property tax by up to $50,000 in assessed value if it's your primary residence, which it will be if you're house hacking.
FHA MIP: It's for Life
If you put less than 10% down on an FHA loan, the annual mortgage insurance premium (MIP) stays on the loan for the entire 30-year term. Unlike conventional PMI, which drops off once you hit 20% equity, FHA MIP never goes away. The only way to remove it is to refinance into a conventional loan once you have enough equity. At 0.55% of the loan amount, that can add $200–$300/mo on a typical Tampa Bay purchase. Factor this into your long-term plan.
2026 Loan Limits — Tampa Bay
Loan limits cap how much you can borrow under each program. Tampa Bay is a standard-cost area, so these are the national floor limits.
FHA
1-unit (ADU): $541,287
2-unit (Duplex): $693,050
3-unit (Triplex): $837,700
4-unit (Quadplex): $1,041,125
Conventional
1-unit (ADU): $832,750
2-unit (Duplex): $1,066,250
3-unit (Triplex): $1,288,800
4-unit (Quadplex): $1,601,750
These limits apply to the loan amount, not the purchase price. A higher down payment can bring your loan under the limit.
This Calculator is an Estimate