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SVTPerformance's Chain of Restaurants
Road Side Pub
Housing Options
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<blockquote data-quote="rborden" data-source="post: 16580091" data-attributes="member: 160221"><p>I’m no expert, but unless you have a solid emergency fund, no debt and at least 20% down, you’re not ready to buy a home. </p><p></p><p>I base this off what I’ve learned and applied myself through Dave Ramsey’s teachings. </p><p></p><p>You do not want to be house poor. </p><p></p><p>Putting 20% down allows you to avoid PMI (private mortgage insurance), keeps your payment mostly manageable and you own the house instead of the house owning you. </p><p></p><p>You also want to keep your mortgage at 25% of your TAKE HOME INCOME. Your mortgage should also be a 15 year fixed rate mortgage. </p><p></p><p>If you’re not familiar with his program, I suggest you start listening to the show. It took a few days to get hooked, but once I did I was grateful because I was living life the wrong way financially.</p></blockquote><p></p>
[QUOTE="rborden, post: 16580091, member: 160221"] I’m no expert, but unless you have a solid emergency fund, no debt and at least 20% down, you’re not ready to buy a home. I base this off what I’ve learned and applied myself through Dave Ramsey’s teachings. You do not want to be house poor. Putting 20% down allows you to avoid PMI (private mortgage insurance), keeps your payment mostly manageable and you own the house instead of the house owning you. You also want to keep your mortgage at 25% of your TAKE HOME INCOME. Your mortgage should also be a 15 year fixed rate mortgage. If you’re not familiar with his program, I suggest you start listening to the show. It took a few days to get hooked, but once I did I was grateful because I was living life the wrong way financially. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Housing Options
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