Exhibit 12.1

D.R. HORTON, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	For the fiscal years ended September 30,
	2004			2003			2002			2001		2000
Consolidated pretax income before cumulative effect of change in accounting principle	$	1,582,911		$	1,008,162		$	647,507		$	407,797	$	309,224
Minority interests in pretax income of subsidiaries which have incurred fixed charges		4,818			8,779			1,283			—		—
Minority interests in pretax losses of majority owned subsidiaries which have incurred losses		(313	)		(911	)		(159	)
Distributed income of 50%-or-less-owned affiliates, net of equity income or loss		—			605			668			—		—
Amortization of capitalized interest		249,053			219,424			136,142			91,401		69,566
Interest expensed		17,517			19,507			17,789			17,695		18,680
Earnings	$	1,853,986		$	1,255,566		$	803,230		$	516,893	$	397,470
Interest incurred	$	250,851		$	253,795		$	210,557		$	139,914	$	112,813
Fixed charges	$	250,851		$	253,795		$	210,557		$	139,914	$	112,813
Ratio of earnings to fixed charges		7.39			4.95			3.81			3.69		3.52