Absolutely.  Mortgage loan approvals depend on many factors including credit, debts, income, assets and reserves.  The mortgage calculators do a good job of computing these numbers but this is data that is still open for interpretation and data that can be pushed and pulled based on other factors about the home loan applicant.  For instance,

The fees associated with taking out a mortgage have increased recently and vary widely between lenders and between different loan programs.  The mortgage calculator helps borrower determine what loan product may offer the lowest cost overall, which lender is offering a better deal best on rate, the points and fees.  This allows the borrower watch

The appraisal on a property can be very important in order to receive the final approval on a loan request.  The property appraisal serves two primary purposes.  The first purpose is the appraisal determines the value of the property.  Loan prequalifications and preapprovals are based on property value estimates; the appraisal established the actual value

With a fixed rate mortgage your interest rates and monthly payments remain unchanged for the life of the loan.  Adjustable rate loans have payments that can go up or down depending upon market interest rates.  Adjustable rate mortgages normally start at a lower rate than fixed rate mortgages but change depending the margin and index

An adjustable rate mortgage can be appealing because it offers a lower interest rate than a fixed rate loan.  The lower rate of course makes for a lower monthly mortgage payment.  A lower monthly mortgage payment can be used to qualify for a larger loan or simply allow for a less expensive loan for a