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In the end, how much home you can afford, according to Ramsey, will be based on your income. If you can buy a house outright, that’s the best option. If not, take your total take-home pay and ...
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A rule of thumb for monthly house payments, according to Ramsey Solutions: Your payment should not exceed 25% of your take-home pay. Having too much income tied up in home expenses means buyers ...
Being able to afford a home in today's housing market can be a challenge. According to Zillow data, the median home value is $348,853, a 1.2% increase from last year. Not only that, but mortgage...
However, here are some tips based on Ramsey’s teachings that can help you get there: If you can’t afford to pay in full, don’t buy it: This tip is at the heart of the difference we discuss here.
Ramsey noted that closing costs can be around 3% to 4% of the home’s sale price. For example, if the sales price is $350,000, then closing costs could be between $10,500 and $14,000.
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