See your maximum home price on a $120,000 income under the 28/36 DTI rule lenders use — then adjust debts and down payment below to match your own numbers.
Quick Answer
On a $120,000 income with typical debts and a $60,000 down payment, you could afford a home up to about $502,990, with a monthly payment near $2,800.
Your Finances
Affordability Estimate
Maximum Home Price
$502,990
28% front-end DTI · 6.5% APR · 30yr
Estimates P&I only. Your actual payment will include property taxes, homeowner's insurance, and possibly PMI. Approval and final rate depend on credit score, lender policies, and market conditions.
Estimated at a 6.5% APR over 30 years with $300/month in existing debts. A bigger down payment raises your ceiling dollar-for-dollar.
| Down Payment | Max Home Price | Max Monthly Payment |
|---|---|---|
| $0 | $442,990 | $2,800/mo |
| $20,000 | $462,990 | $2,800/mo |
| $40,000 | $482,990 | $2,800/mo |
| $60,000 | $502,990 | $2,800/mo |
| $100,000 | $542,990 | $2,800/mo |
Existing debts — car loans, student loans, credit cards — eat directly into your borrowing power. Here's how a $120,000 income's max home price changes with a $60,000 down payment at different debt levels.
| Monthly Debts | Max Home Price | Max Monthly Payment |
|---|---|---|
| $0/mo | $502,990 | $2,800/mo |
| $300/mo | $502,990 | $2,800/mo |
| $600/mo | $502,990 | $2,800/mo |
| $1,000/mo | $471,348 | $2,600/mo |