Get A 15 Year Mortgage Or Save To Buy A House With Cash?

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Title	:	Get A 15 Year Mortgage Or Save To Buy A House With Cash?
Lasting	:	6.38
Date of publication	:
Views	:	822 rb

Lender not the borrower
Comment from : Kimberly

My wife and I are living rent free with her parents We are considering buying in full cash in about 4 years of saving Reasoning is to avoid interest
Comment from : Hugh Jassol

Rent is debt that you will never get back A 15 year mortgage with a low rate is better than paying rent
Comment from : kosmoman54

Can you imagine if he waited 4 years Guy would’ve done terribly compared to simply owning a house with a 2 mortgage
Comment from : Mike

If he would have waited for 4 years or waited a year he would have not bought a house because of the pandemic house boom! No waiting if you have 35 down, get it and get out of loan in 4-5 years
Comment from : Akshay Salvi

Confused, where does he store his cash if not in a bank? He is saying he never plans to enter a bank unless buying it
Comment from : Brian Kelly

I looked at the date of this video and really hope this poor guy didn't listen to Dave's awful advice on this one
Comment from : Bub James

May be because I’m stingy I would wanna save up the cost of a house 100 while I might be living in a trailer, and pay off 100 one time I don’t want my hard earn money go to bankers😊😊😊 I’m not sure it is financially wise or not So far it is my stand even before I watch this show
Comment from : Tawk Tial

Not one person I know can buy a house cash rich people advice😂😂😂
Comment from : juice

Terrible advice by Dave here I'd agree if they were living with parents/family for free He is a landlord himself He loves other people paying for his properties
Comment from : VokeyDawg1

This guy would be useless in Australia If I was to wait to buy a home, I would miss out on hundreds of thousands of FREE cash For example, I bought a home in October for $515k, I paid $25k in mortgage interest over the preceding year, but my home increased in value by $200k - so I made $175k If I had listened to Ramsey I would be broke!!!
Comment from : chris nelson

When you get a mortgage you pay less interest you than renting a Apartment so it's easier to get into a mortgage than rent and save up to buy a house
Comment from : Orlando Gomez

a 15 year is a bad idea a 30 is better and pay it like a 15 year if your job or your income goes down in the future the bigger payment could be a problem nothing stays the same everything goes in cycles good and bad
Comment from : jim hernandez

Dumb advice The price of houses are vastly outpacing wages
Comment from : Jay Tarsia

How can someone living in cities save enough money to pay cash for house? Ramsey's advice is only applicable for rural Americans Also people in cities can't pay off houses in 15 yrs
Comment from : Jay R

No need to be demeaning and calling people stupid in every video I bet that's what Dave's dad did
Comment from : P6

When you're in debt, you must make monthly payments to your creditors This can severely restrict your ability to save money and invest in the future br brThis is why it's so important to get rid of debt as quickly as possible and start saving for the future Investing money wisely can create a financial cushion that will help protect you from unexpected expenses and provide a foundation for long-term wealth building
Comment from : Whisp

In other words, never buy a house or just get a shack
Comment from : FinanzFerdinand

The money that they spend renting, they could put that on a nice house and pay it off
Comment from : Barbara Fallin

27? He sounds like he's in his 50's
Comment from : Nathan Drake

House price will go up every year So I hope you save enough money to catch up! Good luck
Comment from : 周杭

Wonder what this guy ended up doing turns out 2018-19 was a much better time to buy than his estimated 2022 lol
Comment from : Philuent

Great advice Dave! Debt free is the way to go
Comment from : CH1301

Hope he bought before prices went crazy
Comment from : Jess A

How 🤔 can you save 210000 for a house
Comment from : love mom Rios

I really hope they took out the loan 2019 was a great time to buy
Comment from : Spencer

Very grateful to have you Dave!
Comment from : pablo22

Imagine your rent 700 a month but your dating $600 for your house a month but your house payment is $1200 a month so why waste money on rent if you can just pay a house
Comment from : SANDWICHE man

I’m stupid
Comment from : mandypdx

Well three years later let’s hope he borrowed the money and got in before real estate went through the roof
Comment from : Lettuce Boy

Like it so easy to save 200-300 thousand for a house in these timessmhI listen to him at times and he sounds like he has no clue
Comment from : Phil B

Fastforward from 2018 to today, price of housing has gone up about $100k SO that takes care of your saving effort right there
Comment from : yamabushi_nate

Everybody can’t be wealthy, someone has to be at the bottom These principles are for the rich or rather comfortable in finance Banks and CC Companies get their money from the less-fortunate This is the way the system is set up If it hadn’t been for the poor, there wouldn’t be any rich
Comment from : I am His Chosen

Didn’t answer his question Probably wants to know if the price will go up
Comment from : PillarOfSalt

Proud of them im 35 single and hoping by 38 I can do it
Comment from : Arizona_Lilly

100 foreclosures happen on property with a mortgage is that even true? You can get foreclosured cause of property taxes / insurance i thought
Comment from : VictoriaVyVy

This guys 27 but has the voice of a 40 year old
Comment from : Butterfly

I thought Jesus didn’t want people to hoard wealth So pay rent for four more years which you will never get the money back and lose the appreciation on the house for four years
Comment from : Larry Schad

I get the whole cash thing but there is just some things us normal people can't buy with cash Like a house
Comment from : Jeff Patchell

While debt should be avoided its true i disagree that it dumb to get some car payments on a cheaper car when your starting out at work as you never really had the income to begin with everyone has to start somewhere
Comment from : Chess Master111

This sounds like really bad advice
Comment from : Benjamin Humphrey

Dave has to have some middle ground with leveraging debt when it comes to home buying because he knows deep down that most people in this world simply don't have over $50 million lying in their bank accounts and therefore, paying cash for a house is unrealistic for the masses
Comment from : 15K HP Club

Robert k Who wrote rich dad poor dad said that debt is good to buy homes So this video contradicts his statement lol
Comment from : Joseph Eissa

Horrible advice
Comment from : joeh2401

I can't agree with this advise when the interest rates are now below the true rate of inflation You buy the house with today's value of the dollar and pay it back at the reduced future value of the dollar Meanwhile, the money that you would have used to pay off the house could be working for you with other investments
Comment from : cdakskid

Were living in a tiny house while we save up My wife hasn’t voiced any concern against this, but I’m afraid I’m starting to lose my mind XD
Comment from : J RJM

Do you think Dave is a narcissist? Seems like he loves himself too much any thoughts?
Comment from : Rob Villetto

All my friends tell me to roll the closing costs into the price of the houseis this a good plan??
Comment from : David Foulk

Paid call 📞
Comment from : Gabriel Rojas

Wouldn’t it be better if he throws the money he used for renting and the money for the house account into the mortgage?
Comment from : Armando Murillo

Totally 1000 disagree with this advice when the interest rates for home loans are currently at historical lows What I would do at 27 making that kind of money is do a 15 yr fixed mortage and immediately start investing in a dividend ETF or solid stocks with a history of dividend growth and you will make far more money in the long run
Comment from : Russ Maxwell

Does this stand up now, 2021? I've had mortgagers tell me the best offered now is 30yr mortgage
Comment from : Amanda

“ Next time you see me in a bank it’s cuz I’m buying it “ 😂😂
Comment from : S

In his case, get the 15 year old mortgage, save up while paying the monthly payments, after you have enough money to pay it off, pay the rest in full and bam, you’re be debt free brbrRenting would be a waste
Comment from : Aldo

Thanks great advise , living debt free is a blessing
Comment from : Dan

Sorry nothing wrong with a mortgage
Comment from : James

Mad the way people can save up 2700 a month! Wealthy geezers!
Comment from : James

This is stupid
Comment from : ITS CLAVER

Commercial private equity says otherwise about debt Levered cashflow increases returns
Comment from : Chris Stevens

I'm amazed Dave was able to build a successful business without borrowing
Comment from : vampov

I can't fathom this advise for several reasons One the mortgage rate is so low You need the house now The value of the house will go up You can still pay off the loan You can make more investing yours and other peoples money It is the only way to get a tax break and pay less in taxes
Comment from : John First

Put the price of the house in investments, and mortgage it out, now you have the investments growing and equity on the house growing at the same time, that's what I'd do
Comment from : AndrewDaniele87

Does Warren Buffet have a mortgage ? Yes, he does Mic drop
Comment from : Rondell Lewis

There is also some middle ground You could also save up a lot to put more than 20 down and take a much smaller mortgage
Comment from : Natalia Wojdak

This would be great advice if rent was free Good grief
Comment from : Nathan W

Debt could be helpful when you buy and sell products that appreciate or have profitability
Comment from : Lavar Ball

How can we save over 300k for a house cash though?
Comment from : Victor Morales

Nope, 30 years mortgage
Comment from : john done

Is it possible to buy all cash in New York city? Anyone was able to do it? Pls let me know
Comment from : sam elmo

I wonder how they fared with 2020?
Comment from : Carla

I wish we could see now where these callers are and what they decided
Comment from : Bryce Flickinger

If you have the emergency fund and a 20 down payment it’s simple calculation if your interest on the mortgage would be greater than or equal to the cost of renting Either way money is being thrown away on interest or rent pick which ever one is cheaper
Comment from : Glock Fanboy

Never wait Take advantage of the low interests rates, buy below your means and pay it OFFFFFFF
Comment from : KittyCat2024

So I think what Dave meant to answer was “I think you should save and pay in cash” That was a long rant for a short answer to somebody who is crushing it
Comment from : Stephen Reed

I regret not taking out a loan to buy a house 3 years ago I could have bought a nice house for $180k-200kbrbrInstead, I tried saving up to buy a house cash and home prices keep increasing Those same houses are now $250k-$300k I finally gave up and got a loanbrbrIf I would have gotten a loan 3 years ago, I could've paid it off already
Comment from : Juan Cabrera

One of my favourite videos on youtube
Comment from : Aurelio Pita

Dave was on steroids 🤭
Comment from : Taco Batman

Unfortunately in the tri state I'll never save enough cash for a house outright Seems like advice for rural America
Comment from : Bryan Reilly

So, you'd probably be paying around $50k in rent payments over 4 years to buy a house with cash? Makes sense
Comment from : Jeff Churney

I hope for this guy's sake that he didn't wait to pay cash He would've missed a huge opportunity over those years where home prices went through the roof and he could still be chasing home prices up now
Comment from : Brandon Built

27 and 200k per year does not add up to 10m by 40? Dave, are you seriously that poor at math? Pisses me off to listen to this nonsensical rant
Comment from : OC Vegas Property

There is no mathematical lens that says 100 of time it is better to not borrow money Guy is just factually wrong
Comment from : OC Vegas Property

Listen to Dave and you and you Will become a millionaire but it will just take a lot longer
Comment from : OC Vegas Property

if every one thinks like him, we don't have a world as prosperous as it is right now
Comment from : Yu Fang

See this is where I disagree with Dave Why spend all of that money on rent while property is appreciating and those rent payments could have gone towards paying off the mortgage?
Comment from : Anthony Webster

Wow, at 27yr their household income is 3x the average income in the area ($190k vs $72k) If you do that well, buy house cash This is not a situation average American can reach
Comment from : Oscar Hanzely

I wonder where they are today I am so strapped for cash and paying debt because of corona virus It's crazy hard to pay off debt right now
Comment from : chris hill

I thought he said he was paying rent
Comment from : John Hwang

I started out buying real estate in 1989 using 30 year mortgages Bought in growth areas I was 28 years old I knew if I held on in 22 years or so I will own the asset free and clear and my tenants buy me the building It's nothing magical It worked If I tried to pay cash I would have never started So it worked out for me
Comment from : Albert s

Most people can’t save up enough in a realistic amount of time to pay cash for a house 15 yr fixed is the best way to go
Comment from : Mike Zerker

What about the fact that his wife may want to start a family and likely won’t like being told to wait 4 years to do so since kids would cut into saving for this cash paid house?brbrWhat about the fact that the housing market will change as he saves this money up Will the house he wants be the same price 4 years from now? Where I live we saw houses worth 100-200k go to 15 million in 6-7 years It’s a national crisis in Canada
Comment from : MM

Meanwhile more than half of the time through the 4 year plan how much more expensive are houses in Denver?
Comment from : abark

Saving 100 cash for a house will take a decade or more ,in that time the cost of the house could double so it may have been a better financial move to pay interest over the 15 years
Comment from : Lone Ranger