June 17th, 2008 | 
Author: 
mannix_mannix_mannix asked:
I know he is against personal debt at all costs, so I am wondering if he has an exception in his advice for buying a home?
I know he is against personal debt at all costs, so I am wondering if he has an exception in his advice for buying a home?
If so, how does he explain this? I am mainly trying to understand if he has one guiding principle for debt or not.
Stuart Carton
Posted in Personal Finance | 
Tags: Advice, Buying A Home, Dave Ramsey, Feelings, Guiding Principle, Personal Debt
He advises that if you do have to get a mortgage to not get one for more than 15 years. If you can’t pay it off in 15 years, don’t buy it.
He won’t yell at you if you have at least 20% down, no more than 25% of your take home pay (not gross) and a 15 year fixed rate mortgage, don’t buy points.
He prefers everyone to do the 100% down method to purchase a home. He is also a realist and knows that is impractacal so he made the above rule.