mortgage simple definition: I Can't Afford A 15 Year Mortgage!

I Can't Afford A 15 Year Mortgage!

I Can't Afford A 15 Year Mortgage!. 15 Year Mortgage vs. 30 Explained in Common Sense

I Can't Afford A 15 Year Mortgage! video duration 3 Minute(s) 46 Second(s), published by The Dave Ramsey Show on 10 05 2018 - 15:30:00.

Millions of Americans are in mortgages they can't afford
Dave Ramsey always recommends a 15-year fixed rate mortgage
To get a loan or refinance, use his Want More Wealth? For a limited time, download my free E-Book on this at: http://www.GetRichEducation.com/Book Listen to all of our shows with the Get Rich .

Dave Ramsey's latest article on the blog fails to consider the "Opportunity Cost" of the first 15 years where you have essentially $5000 extra in your pocket There are many financial gurus out there that advise you do a 15 year mortgage to pay off your home faster
With a mortgage you are locked into the deal you To subscribe to the show on iTunes click below: https://itunes.apple.com/us/podcast/the-wealth-without-wall-street-podcast/id1282660297?mt=2 To subscribe to .

Millions of Americans are in mortgages they can’t afford. Dave Ramsey always recommends a 15-year fixed rate mortgage. To get a loan or refinance, use his trusted experts: https://www.daveramsey.com/recommends/mortgage-loans

In this video, Dave Ramsey answers Robert’s question, “If you live in a large metropolitan area like southern California, how can you afford a 15 year mortgage?”

Dave tells Robert that even though he has his 3-6 month emergency fund saved, he should only look for a home that’s no more than 25% of his take home pay. If he can’t afford the payment on a 15 year term then he needs to move. People who have a house payment that is more than 30% of their take home pay have a hard time prospering financially. Robert should consider living in a more affordable area nearby with a commute, or moving to a different area that will allow him the right payment so that he can save and invest. You shouldn’t let the house own you.

If you are curious about what you can afford, and what loan options are available to you, Dave has worked with the pros at Churchill Mortgage for over 20 years: https://www.daveramsey.com/recommends/mortgage-loans

Other helpful resources to determine the housing portion of your budget:
Mortgage Calculator: https://www.daveramsey.com/mortgage-calculator
Mortgage Payoff Calculator: https://www.daveramsey.com/mortgage-payoff-calculator

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country! Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. The show live streams on YouTube M-F 2-5pm ET!