$120,000 House at 5.00%

What's the monthly mortgage payment on a $120,000 house? Loan price for a $120,000 house with a 5.00% interest rate.
$
$
%
%
Monthly payment = $515
Total yearly payments = $6,184
Payments by Interest Rate
Interest Rate Payment
4.500% $486
4.625% $494
4.750% $501
4.875% $508
5.000% $515
5.125% $523
5.250% $530
5.375% $538
5.500% $545
Payments by Amount Down
% Down Amount Payment
3.5% $4,200 $622
5.0% $6,000 $612
7.5% $9,000 $596
10% $12,000 $580
15% $18,000 $548
20% $24,000 $515
25% $30,000 $483
30% $36,000 $451
50% $60,000 $322
Payments by Loan Length
Length Payment
10 years $1,018
15 years $759
20 years $634
30 years $515
40 years $463
Interest only $400

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 5.00% loan:

% Down Down Payment Income Required
3.5% $4,200 $35,213
5.0% $6,000 $34,799
7.5% $9,000 $34,109
10% $12,000 $33,419
15% $18,000 $32,038
20% $24,000 $30,658
25% $30,000 $29,277
30% $36,000 $27,897
50% $60,000 $22,375