Home affordability example · Educational math
How much house can I afford on $120,000 with a 15-year mortgage?
Stated sample inputs—not a pre-approval.
Calculator · How we calculate · Questions
Direct answer
Direct answer (stated sample only): with $120,000 annual gross, other debts $600.00/mo, sample DTI caps 28% / 36%, 5% down, 6% rate, and a 15-year term, Nestfigure’s model estimates about $276,924 max home price (loan about $263,078, P&I about $2,220.00). Binding constraint: Front-end DTI sample. Not a pre-approval.
Compare sample rates
Same income, DTI samples, down payment %, and term; different mortgage rate samples.
| Rate | Max price | Max loan | Est. P&I |
|---|---|---|---|
| 5% | $295,506 | $280,731 | $2,220.00 |
| 5.5% | $285,998 | $271,698 | $2,220.00 |
| 6% | $276,924 | $263,078 | $2,220.00 |
| 6.5% | $268,261 | $254,848 | $2,220.00 |
| 7% | $259,988 | $246,988 | $2,220.00 |
Educational estimate only. Not a pre-approval, underwriting decision, or rate quote. Sample DTI caps and rates are inputs you control—lenders use their own rules.
Compare sample rates
Same income, DTI samples, down %, and term| Rate | Max price | Max loan | Est. P&I |
|---|
Housing budget breakdown
From sample DTI capsRelated
Common questions
How much house can I afford on $120,000 annual income with 5% down and a 15-year term?
Direct answer (stated sample only): with $120,000 annual gross, other debts $600.00/mo, sample DTI caps 28% / 36%, 5% down, 6% rate, and a 15-year term, Nestfigure’s model estimates about $276,924 max home price (loan about $263,078, P&I about $2,220.00). Binding constraint: Front-end DTI sample. Not a pre-approval.
Is this a lender pre-approval?
No. Sample DTI caps and rates are illustrative inputs for transparent math.
How do I change the numbers?
Open the prefilled calculator and edit income, debts, DTI samples, rate, term, or down payment.
Educational only. Last reviewed: August 9, 2026.