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.
Note: Getting pre-approved for a mortgage loan is not a guarantee. It does not obligate the lender in any way. You'll face a secondary review process later on, in order to get your final approval. There's a lot more underwriting involved with the final approval.eing pre-approved for a home loan doesn't guarantee you'll get the loan. In order to get a final approval from the lender, you'll have to go through the full underwriting process. And that doesn't happen until you've made an offer to buy a home.