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.
Furthermore, the average approved mortgage applicant comes up with a 21% down payment, has a monthly payment equal to 21% of household income, and rocks a total debt to income (DTI) of no more than 33%.