How To Know How Much House You Can Afford

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Title	:	How To Know How Much House You Can Afford
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Comment from : The Ramsey Show Highlights

25 of my annual income would be 6k 😅 Maybe I should get a tent lol
Comment from : annatheawesome1

God this adulting shit sucks 🤣
Comment from : Elijah_333

Over the years that percentage will shrink which is good My mortgage 15 years in is just 5 of my income Patience my friends
Comment from : Niltomega

Dave ramsey talked for 10 minutes and gave zero answers
Comment from : Mr Bill

I can’t afford shit
Comment from : Richard Mai

With my home, taxes, and insurance I am at 20 I personally wouldn't want to be any higher
Comment from : Dan Walsh

25 of take home income? And is that 25 just the mortgage or all other payments that go along with the house (property tax, home owners insurance, hoa if there is one, etc…?)
Comment from : zerorayne

This is a really good question
Comment from : Briana Budgets

I’m a 23 year old contemplating on signing a loan with 65 a payment of roughly $1,607 with escrow (homeowners insurance and property taxes included) I make roughly $2k a month and my friend makes $18k a month Will this be enough? Do you guys think I could be able to afford? please advise
Comment from : Nelson Araujo

I was a natural caretaker and at times in my life, I lived Free with Relatives and took care of them in lieu of rent I sometimes had the master bedroom because they could not do that tub anymore and had to use a room with a walk in shower I wiped a lot of hiney of course but I worked in caretaking fields anyway I still worked other jobs and stuck all my extra pay away for later Of course, I'm not young any more and I'm the one who may need someone to move in with me and take care of me sooner rather than later Too bad I am not sure people are as trustworthy as I was back when I did it
Comment from : Mandy Simmons

Stop thinking about college funds and teach your kids how start a business without going to college
Comment from : Gerson Cruz

The average person cannot afford a decent family home in 2023 Not on the salary the wealthy pay, not even with a good college degree
Comment from : Kelly York

For many you would expect to earn more the in the years to come
Comment from : Clifton Hammock

People need to buy a home based upon having kids in the future and generations
Comment from : Sand Stew

Lol you would have to pay me to live in that democrat state
Comment from : Jeff Rogers

Dave is right as usual, and if you can buy your first home based on just your income at under 25 of your gross with a 15-year loan, that is a safe place to bebrMore than 25 means you will have very little left over to invest the 20 you should do to get financial security in 35 yearsbrWhen you are blessed with your two children, under 20 on one income may make even more sensebrIt will also help to buy at below the median price for the zip code where you want to livebrIn 35 years as a Realtor helping buyers buy, not one has ever said "We sure wish we would have bought a bigger more expensive home"brif you buy a home that will have a basement or upstairs space that will be easy to add a BR or two, all the better
Comment from : Mike Tracy

Great video🤩
Comment from : Your Best Home Rate

Does the take home pay is after the 401K, roth HOA and such deductions or before that?
Comment from : BHARGAVA SARIPALLI

I live in Sacramento where the 25 rule doesn't apply to rent an apartment I pay around 28 of my income to rent and 60 if i decide to buy a house What to do in this situation?
Comment from : Abe L

25 is comical Good luck! Here in the northeast, if you want shelter over your head and aren't making 180k you're looking at 80 of take home going to these nonsense mortgages
Comment from : Silver Star Eagles

the 25 rule is ridiculous, especially in CA the rule of thumb is 36 of your GROSS pay on a 30 yr mortgage, not 25 of take home pay on 15 yr mortgage lolol
Comment from : imsuperioroso

Turns out, any home is too much home now 😂😢
Comment from : P T

Reality : Average home price in USA is now $400K Rents are skyrocketing People are paying $1500 to $2K in monthly rent but cant qualify for a $1700 mortgage The Industry is insane
Comment from : matt75hooper

I was approved for a $540 mortgage I paid $380 I didn’t want to be house poor
Comment from : Michelles Daughter

Meanwhile with today's home prices: I could maybe afford a used portapotty with a mattress on the side of the road if I starve myself every other day
Comment from : skycaptain95

Just wait until the next strain of Coronavirus, maybe this one will actually be the "Boomer Remover" it was supposed to be and we can all become homeowners!
Comment from : Paul Blichmann

When I had my apartment my rent was 1,010$ so when I was looking to buy a house my goal was for the monthly payment (escrowed) to be as much or less than my rent
Comment from : Texas born refinery made

I want this exact question answered today
Comment from : christopher hutchens

Is Dave’s rule of 25 after taxes or pre tax?
Comment from : Matt Funk Fishing

25 HA try that here in the bay area for a 29m house, 528k household annual income uhhh 🤔 I'm moving
Comment from : Silas Dietrich

Is the 25 of take-home pay recommendation supposed to include property tax and home owner insurance, or is it solely the mortgage?
Comment from : Dee Tee

WANT TO BUY DUPLEX WITH MY VA LOAN? OR SHOULD I GET REGULAR HOUSE
Comment from : Caleb Mcnelly

25 on a 15 YEAR NOT 30, big difference
Comment from : Yummy food

25 of gross or net?
Comment from : A Font

When he says 25, does that mean, that amount times your mortgage rate?
Comment from : Shang Tsung

Is it still possible to buy a house in 2022? 😅 I live in VA and even a run down townhouse is almost 400k
Comment from : AG10

Just purchased my first home at 28brBe patient and trust your gut If you are not comfortable with certain numbers walk away
Comment from : ASMR ANONYMOUS GAMING

My mortgage is less than 25 but, I lived in a not so good neighborhood House are to the roof right now Any new home at a 15 year fixed rate even with 140000 of equity that I have will be higher than 25
Comment from : Joel Barajas

You can't even get an 80k house without it being a dump and needing repairs
Comment from : Stock762

Why not wait until she graduates and gets a job What is the rush?
Comment from : IMDOC78

So is take home pay your salary minus taxes minus whatever you are putting into a 401k?
Comment from : Zach G

House poor I see that all the time
Comment from : John Doe

That's Good Stuff Brother Dave!!!
Comment from : Brandon J Aguirre

So I need to make $16k a month take home to buy a house in Southern California?
Comment from : Roman Gray

That’s resale tough to do on the west coast
Comment from : Ryan

Do 25 of the low point of where you are at, not the middle That would be the safest bet and you can always sell and buy a bigger/better home down the line sometime
Comment from : slipwagon

I paid cash, so I could afford it Even though the numbers said I couldn't by my incomebrbrIt's been cheaper owning a free and clear house for 16 years than it would have been to pay rent for less than half the square footage in an apartmentbrbrThe power of paying cash is huge
Comment from : F Huber

I really appreciate videos like this, that explains the logic behind the advice Thank you
Comment from : Mason R

I’m currently looking for my first home, I’m a Veteran Deciding on which state will suit me best Any thoughts you all?
Comment from : Todd Ryan Casper

About 30 means 28
Comment from : mari b t

Move to Johnstown, Pa cheap homes easy to build wealth
Comment from : Bryan Z

So most people in California can't?
Comment from : Miguel Contreras

The consensus is to never mortgage a house that is more than twice your yearly take homeunless you want to eat a 30yr payment plan Start small, work your way up the ladder If she's in graduate school and you buy a home now, she will have to find a new job locally
Comment from : Doctor LongMoney

House rich, cash poor
Comment from : Terry Wix

Wait until she’s done with school and has a jobAlso buy less house than you think you can afford and that you could pay for on one income That’s what I did and paid my house off in less than eight years Did my debt free scream by myself in my living room My paid for living room😝
Comment from : Rhonda Wiggins

Is the 25 after tax or before tax?
Comment from : tehonlygod

I live in LA, with that rule like that I could only afford 900 a month Lol good luck with that that’s as close as being homeless or a apt in the hood
Comment from : Ricardo Rivas

25 okay cool thanks Dave!!
Comment from : Mina S

Don’t buy until she’s out of grad school
Comment from : tmUSA

Wow the first competent person asking a question
Comment from : M

So what was the point, I obviously missed it -can someone elaborate Thanks in advancd
Comment from : Nicco

I want to hear people call from New York
Comment from : Yup Ok

Ask for help There are people who know how to buy houses
Comment from : Angela Senator Kennedy sergeant Smirnoff

Yea but if you are not house poor you will be rent poor I know he is a professional but dont completely agree , at least if you are paying your house some money goes to principal , houses appreciate and there are tax advantages
Comment from : mt

Most of us wud never own a house with this 25 math especially living in NY…
Comment from : Buggu

I wish I found Dave b4 I bought my house😐
Comment from : Buggu

Dave is 100 right Don’t go too high on your mortgage I made this mistake 10 years ago
Comment from : richard ramfire

How much house can you get for 2k payment a month on a 15 year?
Comment from : JAI HD

I heartily dislike the idea of her going back to school to get a degree in counseling
Comment from : Speaking Truths

Wages aren't keeping up with inflation in my opinion 25 of my income per week doesn't buy what it used too That's my point
Comment from : Bullion Forever

Living in a yurt is how serious I am to live mortgage and rent free
Comment from : LoveToBe

Can you do one on how much shack I can afford next?
Comment from : JB

I just found Dave and I appreciate that he’s brutally honest!
Comment from : Hawaiiansilky

So if I have $2,800 after taxes each month, Dave suggests having a mortgage payment of 25 of that? Which is about 700 a month?
Comment from : Kernal Skinny

Buy a trailer, 60k max!
Comment from : Chief Executive

If you told your audience to invest into amc like I’ve been saying they could buy whatever they want Smdh Keep with your mutual funds Lol
Comment from : pitbullboxing5

Lol I can't even find rent in my expensive city for 25 of my income I think 50 is the new reality for most people
Comment from : Team Shmo

25 hmm Idk
Comment from : Yummy food

Answer: you can only afford the house that you can buy with CASH
Comment from : Tom Dickens

Your married and 30 with kids on your mind after college I guarantee someone will be working part-time or not at all after you two have kids Please don't plan a two incomes after she graduates
Comment from : Jolene H

Saying no is hard Saying Oh No is a lot harder
Comment from : Alexander Langhans

Why people always asking Dave questions that they already know the answer to?
Comment from : Clayboi

I bought a house that is perfect for me Not huge, not flashy Mortgage is only $800 a month Dont become house poor!
Comment from : Farmer Nate

I made great mistake on buying new car on emi brNo more emi in emotional process
Comment from : Harrys Ram

Thank you Mr Ramsey!
Comment from : mongojr 2618

Just bought my first home in Canada, although his advice is sounds the real world is quite different right now Houses in my city often go for 100-250k over asking and the AVERAGE detached home price in my city is 750K Advice to navigate this type of situation would be interesting
Comment from : brock lupal

Wisdom Man!!!
Comment from : rene garcia

25 before or after taxes? Because if it's after, I can only afford a $713 house payment 😳
Comment from : Mac Neoh

is the 25 rule just on the mortgage? so im about to buy a house and the mortgage is going to be 20 but with tax, insurance, and HOA, and utilities it jumps up to almost 35 which number do I go off of?
Comment from : Garret Fields

Get a house you can make money on
Comment from : John First

$575 is 25 of take home pay so there goes my hopes of buying my first house 🤦🏽‍♂️🤦🏽‍♂️😭
Comment from : Dante

Not sure by that , 25 is way low
Comment from : 786otto

The truthful coffee transmurally present because philosophy distinctly advise pace a best route short, stiff insect
Comment from : Ker Loz

We didn’t follow the 25 tip because we plan to live in this house forever and our income will likely increase Everyone’s situation is a little different So glad we followed Dave’s advice to have an emergency savings!
Comment from : Rachel N