$120,000 House at 4.75%

What's the monthly mortgage payment on a $120,000 house? Loan price for a $120,000 house with a 4.75% interest rate.
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Monthly payment = $501
Total yearly payments = $6,009
Payments by Interest Rate
Interest Rate Payment
4.250% $472
4.375% $479
4.500% $486
4.625% $494
4.750% $501
4.875% $508
5.000% $515
5.125% $523
5.250% $530
Payments by Amount Down
% Down Amount Payment
3.5% $4,200 $604
5.0% $6,000 $595
7.5% $9,000 $579
10% $12,000 $563
15% $18,000 $532
20% $24,000 $501
25% $30,000 $469
30% $36,000 $438
50% $60,000 $313
Payments by Loan Length
Length Payment
10 years $1,007
15 years $747
20 years $620
30 years $501
40 years $447
Interest only $380

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 4.75% loan:

% Down Down Payment Income Required
3.5% $4,200 $34,460
5.0% $6,000 $34,058
7.5% $9,000 $33,387
10% $12,000 $32,716
15% $18,000 $31,375
20% $24,000 $30,033
25% $30,000 $28,692
30% $36,000 $27,351
50% $60,000 $21,985