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Oh you can be approved for a ton of debt that you can't actually afford. Banks take the position that it's your debt and you can do what you want so long as you can make the payments. They don't care if you spend 90% of your income on your debt payments. (Remember they get money from the interest so the worse you are at repaying the better it is for them).

When I got my mortgage they approved us for 2.5 times what we asked for it. It was asinine. We took a much more modest house and have been happy with that.