Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Meritage Homes Corporation

Calculation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)


	Quarter Ended March 31, 2012			Year Ended December 31,
	Quarter Ended March 31, 2012			2011			2010			2009			2008			2007
(Loss)/Income from continuing operations before income taxes and minority interest		(4,574	)		(20,376	)		2,484			(154,799	)		(275,966	)	$	(456,482	)
Loss/(Income) from equity method investees		(1,423	)		(5,849	)		(5,243	)		(4,013	)		17,038			40,229

		(5,997	)		(26,225	)		(2,759	)		(158,812	)		(258,928	)		(416,253	)

Add/(deduct):
+ Fixed Charges		11,315			45,441			45,936			50,123			53,526			67,109
+ Amortization of Capitalized Interest		2,378			9,863			12,228			25,951			37,233			47,051
+ Distributed income of equity method investees		1,252			6,497			7,263			8,286			10,049			15,929
- Interest capitalized		(3,476	)		(12,994	)		(9,720	)		(10,359	)		(25,606	)		(55,431	)

Earnings available for fixed charges	$	5,472		$	22,582		$	52,948		$	(84,811	)	$	(183,726	)	$	(341,595	)

Fixed Charges:
Interest and other financial charges expensed and capitalized		10,847			43,393			43,442			46,890			49,259		$	62,176
Interest factor attributed to rentals (a)		468			2,048			2,494			3,233			4,267			4,933

Fixed Charges	$	11,315		$	45,441		$	45,936		$	50,123		$	53,526		$	67,109

Ratio of earnings to fixed charges (b)		0.5	x(c)		0.5	x(c)		1.2	x			(c)			(c)			(c)

(a)	The interest factor attributable to rentals consists of one-third of rental charges, which is deemed by the Company to be representative of the interest factor inherent in rent.

(b)	There was no outstanding preferred stock during the periods presented; therefore, the ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends were the same.

(c)	Earnings were not adequate to cover fixed charges by $5.8 million, $22.9 million, $134.9 million, $237.3 million and $408.7 million for the three months ended March 31, 2012 and for the years ended December 31, 2011, 2009, 2008 and 2007, respectively.

Meritage Homes Corporation

Pro Forma Calculation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)


	Quarter Ended March 31, 2012			Year Ended December 31, 2011
(Loss)/Income from continuing operations before income taxes and minority interest		(4,854	)		(21,497	)
Loss/(Income) from equity method investees		(1,423	)		(5,849	)

		(6,277	)		(27,346	)

Add/(deduct):
+ Fixed Charges		11,597			46,563
+ Amortization of Capitalized Interest		2,378			9,863
+ Distributed income of equity method investees		1,252			6,497
- Interest capitalized		(3,758	)		(14,116	)

Earnings available for fixed charges	$	5,192		$	21,461

Fixed Charges:
Interest and other financial charges expensed and capitalized		11,129			44,515
Interest factor attributed to rentals (a)		468			2,048

Fixed Charges	$	11,597		$	46,563

Ratio of earnings to fixed charges (b)		0.4x	(c)		0.5x	(c)

(a)	The interest factor attributable to rentals consists of one-third of rental charges, which is deemed by the Company to be representative of the interest factor inherent in rent.

(b)	There was no outstanding preferred stock during the periods presented; therefore, the ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends were the same.

(c)	Earnings were not adequate to cover fixed charges by $6.4 million and $25.1 million for the three months ended March 31, 2012 and for the year ended December 31, 2011, respectively.