How Much Should You Put Down On A House? (Dave Ramsey vs The Money Guy Show)

How Much Should You Put Down On A House? (Dave Ramsey vs The Money Guy Show)

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[adambarlow]

Don't need to do 20% down...My wife and I had and have over 800 credit scores, so low rates, pay the lump sum for the stupid PMI if you plan to live in a home for a long time without selling (its a small amount). We only put 5% down on our first home, sold 3 yrs later and made $73K profit. Paid off my wife's student loans to stay home with children (3 then now 5). Did 10% down payment on a house twice the size, then 2 years later refinanced from a 30 to 15 yr loan with a 2.62% rate and only have 7 yrs left and now our house has more than doubled in value as current prices...Love Dave, but trying to wait for 20% downpayment can cause you to miss out if you are still responsible with $$$.

[bpenguin]

Would you still recommend 3-5% in a HOCL area? Like California? lol. that mortage payment would be impossible to keep up with.

[ohmy...]

Can you get a comfortable mortgage with about 5% down? If no, then you're probably buying too much house (especially if it's ur first time). If yes, then be savy. Put the rest into real estate or other investments that can get you 10%+ returns. If u care more about avoiding debt and building wealth isn't a top priority then go ahead and put down 20% if u can. No shame in that. But there is nothing risky about a low down payment as long as it doesn't take more than 25ish % of your income.

[AJ]

Who could possible afford 20% in todays market lol I did 3 % and the difference with that and a 10% down was like 2-300 a month. Nowhere near the additional down cost

[patriciabradshaw]

Houses for sale here are as is with no inspections. How can I use my VA in this situation?

[greenlantern]

Does the report that 250K Homebuyers in 2022 are underwater on their mortgage change your attitude at all? Obviously homebuying "should" be a long term investment, but this is a scary number for people who recently purchased.

[spooksyschannel]

Where I live though, houses are intense to get. So we are all competing. So money guys what do you recommend instead? 30% down?

[lukerider]

Actually I’m pretty sure that’s exactly what Ramsey said. 20% is not needed for first time buyers

[torney]

second time buyer like me, my rule is 100% Cash, no acception...

[janetcross]

this will ruin your. life you need 20%

[Smartskull]

Stop having kids y’all! No one asks to be born, & no one has the moral right to inflict serious, preventable harms upon others without their consent. It’s morally wrong to place someone in a position from which death is the only escape.