Dave Ramsey Home Buying Guidelines May 2026

: You should have zero consumer debt (credit cards, car loans, student loans) before buying.

: For a family earning $200,000 combined, buying a $700,000 home using a 15-year mortgage at current rates often results in payments closer to 50% of take-home pay , double Ramsey's suggested limit. dave ramsey home buying guidelines

: Ramsey strictly recommends a 15-year fixed-rate mortgage over a 30-year option to save hundreds of thousands in interest. : You should have zero consumer debt (credit

Dave Ramsey 's home-buying guidelines are built on a philosophy of extreme risk reduction and long-term "debt freedom". While conservative, they are designed to ensure your home remains a "blessing" rather than a financial burden. The Core Guidelines Dave Ramsey 's home-buying guidelines are built on

: Aim for 20% down to avoid Private Mortgage Insurance (PMI) . He notes that 5–10% is "okay" for first-time buyers, but it is not ideal. Critical Perspectives on the Guidelines