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.
When Things Go Wrong With Your Mortgage. Mortgage approvals take time. In a typical home loan market, 45 days is normal time frame. The time to get an approval, though, can change based on the market environment or how complicated a loan might be. For example, when mortgage rates are low and there's a refi boom on-going, closing on a loan take as long as two months.