Meritage Paseo Construction S-3ASR Automatic shelf registration

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)

	Year Ended December 31,
	2011			2010			2009			2008			2007
(Loss)/Income from continuing operations before income taxes and minority interest		(20,376	)		2,484			(154,799	)		(275,966	)	$	(456,482	)
Loss/(Income) from equity method investees		(5,849	)		(5,243	)		(4,013	)		17,038			40,229
		(26,225	)		(2,759	)		(158,812	)		(258,928	)		(416,253	)
Add/(deduct):
+ Fixed Charges		45,441			45,936			50,123			53,526			67,109
+ Amortization of Capitalized Interest		9,863			12,228			25,951			37,233			47,051
+ Distributed income of equity method investees		6,497			7,263			8,286			10,049			15,929
- Interest capitalized		(12,994	)		(9,720	)		(10,359	)		(25,606	)		(55,431	)
Earnings available for fixed charges	$	22,582		$	52,948		$	(84,811	)	$	(183,726	)	$	(341,595	)
Fixed Charges:
Interest and other financial charges expensed and capitalized		43,393			43,442			46,890			49,259		$	62,176
Interest factor attributed to rentals(a)		2,048			2,494			3,233			4,267			4,933
Fixed Charges	$	45,441		$	45,936		$	50,123		$	53,526		$	67,109
Ratio of earnings to fixed charges (b)		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 $22.9 million, $134.9 million, $237.3 million and $408.7 million for the years ended December 31, 2011, 2009, 2008 and 2007, respectively.