How Much House Can I Afford on a $120k Salary?
This estimate shows a comfortable home price for a $120k income under typical lending rules.
Maximum Home Price
$417,000
Loan Amount
$333,600
Monthly Principal & Interest
$2,111.12
Total Monthly Housing Cost
$2,728.12
Summary
On a $120k salary, a home around $417,000 keeps your housing costs aligned with the 28/36 DTI rule and the assumptions below.
Assumptions Used
- 20% down payment
- 6.5% mortgage interest rate
- $400 per month in other debts
- 1.2% annual property tax rate
- $200/month insurance & HOA
- 30-year mortgage term
- 28/36 debt-to-income rule
Actual borrowing capacity depends on your full financial profile and lender policies.