$120,000 House at 4.50%

What's the monthly mortgage payment on a $120,000 house? Loan price for a $120,000 house with a 4.50% interest rate.
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Monthly payment = $486
Total yearly payments = $5,837
Payments by Interest Rate
Interest Rate Payment
4.000% $458
4.125% $465
4.250% $472
4.375% $479
4.500% $486
4.625% $494
4.750% $501
4.875% $508
5.000% $515
Payments by Amount Down
% Down Amount Payment
3.5% $4,200 $587
5.0% $6,000 $578
7.5% $9,000 $562
10% $12,000 $547
15% $18,000 $517
20% $24,000 $486
25% $30,000 $456
30% $36,000 $426
50% $60,000 $304
Payments by Loan Length
Length Payment
10 years $995
15 years $734
20 years $607
30 years $486
40 years $432
Interest only $360

Can I afford a $120,000 house?

Traditionally, the "28% rule" means a person should not spend more than 28% of their pre-tax income on total housing costs.

Let's assume that taxes and insurance are 2% of the house price annually. Here's how much you'd have to make to afford a house that costs $120,000 with a 4.50% loan:

% Down Down Payment Income Required
3.5% $4,200 $33,717
5.0% $6,000 $33,327
7.5% $9,000 $32,675
10% $12,000 $32,024
15% $18,000 $30,721
20% $24,000 $29,418
25% $30,000 $28,115
30% $36,000 $26,812
50% $60,000 $21,600