There is also a three-digit code number assigned to each currency, in the same manner as there is also a three-digit code number assigned to each country as part of ISO 3166. This numeric code is usually the same as the ISO 3166-1 numeric code.
This calculator uses these guidelines for determining how much house you can afford, which are similar to common underwriting criteria that mortgage lenders use. 1  Your total mortgage payment should be no more than 28 percent of your gross monthly income.
Other factors to consider: Other factors can affect how much mortgage you can afford. Such as: â¢ The length, or term, of your mortgage affects how much mortgage you can afford. Most mortgages are for either 30- or 15-year terms. A 30-year mortgage is the most common because the mortgage payment is lower.