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.
How Long Does Pre-Approval Take To Get Issued? A mortgage loan originator can issue a pre-approval letter as soon as they get at least three items from the mortgage loan applicant: Two years tax returns, two years W-2s, and most recent paycheck stubs.