Affording a home.

You can get a 15-year term mortgage from a credit union to buy a house with a fixed rate of 4.68% APR (given a credit score between 680 - 740 and a down payment of 20%).

The lending agency says that based on your income, your monthly payment can be at most $1,275.

What is the maximum amount you can you borrow?

Please round your answer to the nearest thousand dollars.