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.
And as the real estate market has shown us in 2007 and 2008, it can be a bumpy ride. If youâve decided that home ownership is right for you, the next step is deciding how much home you can afford. Typically, most lenders suggest that you spend no more than 28% of your monthly income on a mortgage. Try SmartMoneyâs âHow Much House Can I Affordâ calculator to find out how much you can afford.