I learned something interesting today… If your credit is good enough, some mortgage lenders will approve mortgages that bring you up to a 50% back-end ratio. In case you’re wondering what that means, your front-end ratio is your total monthly mortgage payment vs. you gross monthly income, whereas your back-end ratio is your total monthly debt obligations vs. gross monthly income. Is it just me, or is that an insane amount of debt to be carrying? Crazy stuff.
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