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.
Even better -- it's getting easier to get approved for a mortgage. In February, mortgage lenders approved 67% of all purchase loans applications, which is four percentage points higher as compared to last year's average. More than half of all refinances applications went to closing, too.