Say l am making $200,000 a year and have $300K savings for a deposit on a home. Also, imagine a flawless credit score. What is the price for a house that should be looked at with a 15 year mortgage? What do you think is the most expensive house and median house that can be afforded.

We have to make some assumptions here. We're going to assume u intend to put down the entire $300K as a down payment.

We r also going to assume that u r conservative & do not want ur monthly payment for prinicipal & interest ( l have to ignore taxes & insurance since l do not know what the rates r where u live) to exceed 28% of ur monthly income.

200K/12=$16,667. 28% of that is $4,667 (rounded)

Now we jump over to our handy-dandy mortgage calculator:

http://bankrate.com/brm/calculators/mortgages/maximum_mortgage.asp

And we further assume u can get a 6% fixed rate 15 year mortgage, & we see u would qualify for a $571K mortgage. Add in ur savings, & before commission & other fees, u could afford a $871,000 house.

Not sure what u mean by a median house.