Exhibit 12.1

D.R. HORTON, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	For the fiscal years ended September 30,										For the six months ended March 31,
	1998		1999		2000		2001		2002		2002		2003
	(dollars in thousands)
Consolidated pretax income before cumulative effect of change in accounting principle	$	159,099	$	263,826	$	309,224	$	407,797	$	647,507	$	259,775	$	385,111
Minority interests in pretax income (loss) of subsidiaries which have incurred interest charges		—		—		—		—		1,322		1,099		(261	)
Distributed income of equity investees, net of equity income or loss		—		—		—		—		668		4		75
Amortization of capitalized interest		47,995		58,153		69,566		91,401		136,142		51,746		89,228
Interest expensed		17,453		18,565		18,680		17,695		17,789		8,342		7,372
Earnings	$	224,547	$	340,544	$	397,470	$	516,893	$	803,428	$	320,966	$	481,525
Interest incurred	$	71,649	$	83,090	$	112,813	$	139,914	$	210,557	$	87,830	$	124,018
Fixed charges	$	71,649	$	83,090	$	112,813	$	139,914	$	210,557	$	87,830	$	124,018
Ratio of earnings to fixed charges		3.13		4.10		3.52		3.69		3.82		3.65		3.88