What's the Most Expensive House You Can Afford on 120,000 Per Year?

Annual Income
(before tax)
$
Down Payment $
Interest Rate %
Term of Loan
Pct of Income
(for housing)
%
(results appear below)

With an income of $120,000, and a down payment of $120,000, you should be able to afford a house that costs $706,491.

This assumes a 30-year mortgage at 4% interest, and spending 28% of your income on your mortgage payment.

What House Can You Buy Based on Interest Rate and Down Payment?
Down 3.50% 3.75% 4.00% 4.25% 4.50%
24,000 647,546 628,601 610,491 593,175 576,611
48,000 671,546 652,601 634,491 617,175 600,611
72,000 695,546 676,601 658,491 641,175 624,611
96,000 719,546 700,601 682,491 665,175 648,611
120,000 743,546 724,601 706,491 689,175 672,611
144,000 767,546 748,601 730,491 713,175 696,611
168,000 791,546 772,601 754,491 737,175 720,611
192,000 815,546 796,601 778,491 761,175 744,611
216,000 839,546 820,601 802,491 785,175 768,611
240,000 863,546 844,601 826,491 809,175 792,611