Front-End Ratio: Compares housing expenses to gross monthly income. Housing expenses include principle, interest, taxes and insurance. A good rule of thumb: the ratio should be 28%* or below. Housing expenses may include homeowners association fees, development taxes, homeowners insurance, flood insurance and mortgage insurance. Does not include: electric bill, cable or wifi. For example: homebuyers in Virginia Beach, Norfolk and Chesapeake, should consider housing expenses when Read more about Complicated Terms, Simple Definitions: Front and Back-End Ratios[…]