How Does Dave Ramsey’s Advice on Mortgages Pencil Out?

Last month I wrote about advice I’ve been seeing popping up in my Facebook feed from Dave Ramsey on mortgages. There are several points that I just don’t find realistic for the average person who wants to buy a home, such as only using a 15 year amortized mortgage with 20% down payment and limiting your mortgage payment to 25% of your take home pay. I promised that I would share a follow up post where I review different scenarios comparing his advise to real life scenarios. [Read more…]

Should You Follow Dave Ramsey’s Advice on Mortgages?

Dave Ramsey is someone a lot of people follow for financial advise. Lately he’s been showing up A LOT in my Facebook stream pushing his thoughts on mortgages, home ownership and credit. Some of his ideas, I don’t totally disagree with. In fact, I shared a post that came from his group encouraging people to continue to pay rent and make their mortgage payments during the pandemic if at all possible (ie nothing is for free). However, I don’t support what he instructs his followers who are considering buying a home and I also have an issue with anyone who pushes their “team of vetted real estate agents”…I would be really surprised if there is not some sort of financial relationship associated with this referral arrangement.

Let’s take a look at what he encourages his followers to do with regards to buying a home or getting a mortgage. [Read more…]

Welcome to 2020!

Happy New Year from our family and Hitch

We are just into our second week of the new year and I hope your new year is off to a great start! I like to use this time of year to review my goals and make adjustments to my plans. [Read more…]

Retirement, random thoughts and your mortgage

I read an interesting article about planning for retirement. This is a topic that I find very important. I’m not a financial planner, however as a Mortgage Professional I see a financial snapshot of what people have when applying for a mortgage. I concur with this article from CNBC, most people do not have enough money saved up for their golden years. [Read more…]

Financing a “multi-generational” home


It’s becoming more common for families to have multiple generations living under the same roof. Some families opt to commit to buying a “multi-generational” home together designed to accommodate their lifestyle, whether it’s a home with an attached or detached dwelling unit (aka mother-in-law apartment) or even a home built specifically for generations to live together, there are options available for living with your parents and/or grown children. [Read more…]

Buying a home? You may want to delay filing your taxes right now.

If you are in the market to buy or refinance your home around tax time, you might want consider filing an extension. This is because some lenders require taxes to be verified if a tax return has been filed. The IRS typically winds up taking several weeks to process verifications from lenders during this time of the year. This can potentially cause a delay with closing of some transactions. [Read more…]

My 50th Birthday!

This past weekend, I celebrated my 50th birthday with family and friends. I have two (not much) younger sisters who love to ask “don’t you feel older” and my answer is typically “not really”. I’m actually pretty excited to be the big 5-0…beyond being able to join AARP! [Read more…]

Mortgage Insurance Tax Deductible for 2015 and 2016

Money in pocketI’m receiving gleeful emails from various private mortgage insurance companies announcing that mortgage insurance will once again be tax deductible. This is thanks to the PATH Act extending certain tax benefits to eligible home owners.

[Read more…]