Florida VA residual income & debt-to-income calculator
Florida doesn’t tax wages, so more of every paycheck stays with you. VA measures that in residual income, and it’s the number that carries the most weight.
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When VA underwriting decides whether a house payment fits your budget, it looks at residual income: the dollars you have left each month after income taxes, the new payment, upkeep and utilities, and your other monthly debts. Debt-to-income (DTI) is shown too, but it’s a ratio, not a budget.
Florida falls in VA’s South region, and VA sets a minimum residual income for each household size there. Fill in your numbers below. If you just ran the payment calculator, that payment is already in place.
DTI & residual income check
Uses VA’s residual income table for loans of $80,000 or more and VA’s $0.14 per square foot estimate for maintenance and utilities. Count only debts with more than 10 payments left, plus minimum card payments. Estimate only; an underwriter makes the final decision.
For illustration only. Results are estimates based on the numbers you enter and general assumptions, and may not reflect your situation. This is not a Loan Estimate, pre-approval, rate quote or commitment to lend. Any rate shown is an example, not a current rate or an offer. Your actual eligibility, loan amount, rate, payment and costs depend on your credit, income, property, appraisal and underwriting, and can change without notice. Not all applicants qualify. CrossCountry Mortgage, LLC NMLS #3029. Equal Housing Opportunity. Full disclaimer.
What’s different about the numbers in Florida
- No state income tax. The taxes you enter are only federal income tax, Social Security and Medicare. That usually leaves Florida buyers with more residual income than someone earning the same pay in a state that taxes wages.
- Insurance can be a big line item. Homeowners insurance tends to cost more in Florida than in much of the country, and a home in a flood zone may also need flood insurance. Both go into your housing payment, so get real quotes for the address. See homeowners insurance for a VA loan in Florida.
- Condo and HOA dues count. If you’re looking at a condo or a neighborhood with an HOA, include the monthly dues in your housing payment.
- Tax-free income helps. VA disability compensation and BAH both count. Stationed at NAS Jacksonville, MacDill AFB or Eglin AFB? Look up your rate on the Florida BAH page.
Why residual income leads
VA’s own guidelines put residual income ahead of debt-to-income, and that’s how my team qualifies you. A borrower with healthy residual income can often be approved even when the ratio looks high. My team reviews each application against VA’s guidelines rather than a single cutoff.
Questions Florida veterans ask
How much residual income does VA want for a Florida home?
It depends on how many people live in your home and on the loan amount. Florida uses VA’s South region figures; for loans of $80,000 or more, a household of four needs $1,003 a month. Pick your household size and the calculator applies the right figure.
Should I include my spouse?
If your spouse will be on the loan, enter both incomes and both sets of monthly debts. If they won’t be on the loan, leave their income out. My team can talk through which way works better for you.
What counts as a monthly debt?
Include car loans, student loans, personal loans, child support or alimony, and the minimum payment on each credit card. Don’t include utilities, phone bills or insurance, and leave off any installment debt with 10 or fewer payments left.
Talk it through with my team
A calculator gives you an estimate; a review by my team gives you real numbers. The application takes about 10 minutes and uses a soft credit pull only.
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