Dave Ramsey's Homeownership Advice
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borrowingGOBankingRates
•Business
Business & Economics
Dave Ramsey says it’s better not to borrow, keep the mortgage low and pay it off fast
58% Informative
Dave Ramsey has been warning his followers for decades not to get into debt.
He’s a staunch advocate for using cash only for purchases and being incredibly mindful of buying only what you can afford.
If you must borrow, and most of us must, your goal should be to keep the mortgage below one-fourth of your take-home pay.
How much home you can afford, according to Ramsey , will be based on your income.
If you can buy a house outright, that’s the best option.
Take your total take-home pay and divide it by 4 .
From there, you’ll need to figure out the total mortgage price, including interest, property taxes and homeowners insurance.
VR Score
46
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36
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60
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English
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25
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long-living
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6
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