Being house broke is one of the toughest things
to have to deal with when it comes to personal finance. And unfortunately, there is a fairly sizable
number of us that have experienced being house broke at one point or another in our lives. And in the interest of trying to lower the
number of home buyers that will end up being house broke in the future, I thought it would
be a good idea to do a quick video on how much we should be spending on housing. As is the case with many other big financial
decisions there are a few different rules of thumb that people throw out there when
asked the question how much home can I afford so today we’re going to analyze the three
major ones, talk about their advantages and disadvantages, and show some examples of how
they work in tandem with the rest of our budget so that you can decide which rule of thumb
would be best for your situation. Hey everyone Daniel here and welcome to Next
Level Life a channel where you can learn about investing, debt, retirement, and many other
financial topics besides, because, let’s face it, the school’s aren’t going to teach
it for us. So if any of those topics sound interesting
to you or if you want to learn how to better handle your money and have more financial
freedom be sure to hit that subscribe button and the bell next to my name to be notified
every time I upload a video. And if you want to further support the growth
of this channel you can check out some of the links I’ve left down in the description
below which includes a 30-day free trial of Audible and 2 free audiobooks of your choice
as well as a list of some books on money I’d recommend checking out with your free trial,
or you can smash that like button if you haven’t already, share this video with a friend, and
leave a comment below letting me know what topics you’d like me to cover in future
videos. How much house can I afford? This is a question that many people ask every
single day and financial experts have come up with a few different rules of thumb to
use when answering that question. The three rules of thumb are the 28/36 rule,
the 30% solution, and the 25% method. Let’s take a look at each of these individually. The first rule of thumb that people use to
figure out how much house they can afford is the 28/36 rule. The 28/36 rule states that you should spend
no more than 28% of your gross income on your mortgage payments including the principal,
interest, insurance, property taxes, PMI if you have it, and HOA and other related fees
and dues if you have them. The rule also states that no more than 36%
of your gross income should be spent on your housing and all other debts. Or in other words, 36% of your gross income
should go towards your mortgage principal (or rent if you’re a renter), interest, insurance,
property taxes, PMI, HOA fees, and other debt payments like a car, student loans, or other
personal loans. The main advantage of using the 28/36 rule
as your rule of thumb is that it enables you to purchase the second most expensive house
out of these three rules while taking into account other areas of your financial picture,
in this case, your non-housing related debts. And in most situations, so long as nothing
horrific happens, people should be able to make these payments without going over budget. The disadvantage or potential disadvantage
to using this rule as opposed to some other rule of thumb when figuring out how much house
you can afford is that, well, it delegates the largest amount of your income toward liabilities
out any of these three rules, at least explicitly. In doing so it automatically means that you
don’t have as much money left at the end of the month to put towards other goals whether
that’s giving, paying off debts, investing for your future, or just saving for a vacation. Let’s take a look at how this works. Let’s say that John and Jane are looking
to buy a new home. Together they earn $72,000 a year or $6,000
a month (roughly the average income in the US according to the most recent data from
the Bureau of Labor Statistics) and have the following debts. $5,000 on a credit card which is costing them
$100 a month in minimum payments, $10,000 left on a car loan that has a minimum payment
of $185 a month, and $30,000 of total student loan debt that has a total minimum payment
of $300 a month. John and Jane’s total minimum monthly debt
payments add up to $585 a month and account for roughly 9.75% of their gross income. So they are a little bit above the 8% recommendation
of this rule of thumb when it comes to the percentage of their income going to non-housing
debt, but that’s okay, that’s part of what gives this rule of thumb an advantage
over the other rules of thumb on this list. Because based on these numbers John and Jane
would have to either pay off some of their debts before buying a new home or simply adjust
how much of their income they are going to put towards their housing costs. In this case, if they decided to not pay off
any of their debts before buying the new home they would need to spend no more than 26.25%
of their gross income on their housing so that their debts and housing costs together
could still be no higher than 36% of their gross income. This would mean that the most they could afford
to spend on a new home (including the mortgage principal, interest, taxes, insurance, and
any related fees) would be $1,575 a month or $18,900 a year. The amount of home that this would buy John
and Jane would vary depending on a number of factors including what interest rate they
received, how much property taxes and homeowners insurance are where they want to live (because
this can vary by a surprising amount), how much of a down payment they put on the home
and whether or not it was enough to avoid having to get private mortgage insurance or
PMI, and what other fees may have come with the home. If we assume that property taxes are roughly
1.5% of the homes value, homeowners insurance costs John and Jane $100 a month, they have
no PMI because they put 20% down on the home, there were no HOA or other fees associated
with the home, and they received an interest rate of 4% on the mortgage then John and Jane
would be able to buy a home of roughly $270,000 on a 30-year loan and a $190,000 home on a
15-year loan under the 28/36 rule. The second rule of thumb that people use to
figure out how much house they can afford is the 30% solution. The 30% solution states that no more than
30% of your gross income should be allocated towards housing costs which basically includes
the same things as before. Its primary advantage is the fact that, of
the three rules we’re going over today, it allows you to buy the most expensive house. Looking back to John and Jane’s example
from earlier. They make $6,000 a month, meaning that under
the 30% solution they can allocate no more than $1,800 a month to housing. Assuming the same scenario we described before
this would allow them to purchase a $335,000 home on a 30-year loan and a $235,000 home
on a 15-year loan. A potential disadvantage to using this method
is that it does not really take into account how the rest of your money is divvied up,
or at least it isn’t as explicit about it as the 28/36 rule. Technically the 30% solution does advise that
you have no more than 20% of your take-home pay going towards non-housing debts, but unlike
the 28/36 rule, it doesn’t have a second layer for you to adjust your housing costs if you
are in a situation where you’re up to your eyeballs in debt. As we just saw using the 28/36 rule in a situation
where your debts are higher than recommended it would force you to adjust the percentage
of your budget going to housing down so that you could still fit under that 36% ceiling
however the 30% solution has no such adjustments. If you followed it to a tee, then you’d
basically still be putting 30% of your gross income towards housing and then figuring out
your debts another time which could lead to some very tight budgets. So if you are up to your eyeballs in debt
it may not actually be a smart move to put 30% of your gross income towards housing costs
if you can avoid it while you get yourself out of debt. The same goes for those who are looking to
retire early. While having a bought-and-paid-for home is
certainly very helpful when going into early retirement putting 30% of your budget towards
housing, unless you get a really good deal, will probably make it a little bit tougher
to achieve the goal of early retirement compared to a more conservative rule of thumb. Which leads us into the third most common
rule of thumb when it comes to deciding how much you can afford to pay for your home. The third rule of thumb that people use to
figure out how much house they can afford is the 25% method. The 25% method is the one popularized by Dave
Ramsey and it states that you should allocate no more than 25% of your take-home pay, towards
your housing costs. This is undoubtedly the most conservative
of these three rules of thumb and generally works very well especially in situations where
you need to allocate a large portion of your income towards other financial goals such
as giving, paying off debt, or investing in your future. However, the downside is it can be tough especially
in more expensive areas to find a decent house in a decent neighborhood on this little of
your income. Again let’s look back at John and Jane’s
situation, they make $72,000 a year which after taxes would look suspiciously like $60,000. Following this rule of thumb that would mean
that we would need to allocate no more than $15,000 a year or $1,250 a month towards their
housing costs. This would enable them to buy a $225,000 home
on a 30-year loan and a $160,000 home on a 15-year loan. Again, that’s certainly doable in many areas
of the country but it’s less easy to find a nice place in a nice neighborhood in more
expensive areas of the country for that amount unless you get creative. Because even in those cases that doesn’t mean
that this rule of thumb, or either of the other ones for that matter, is impossible
to follow it just means that we have to look at some of the other options we have available
to us. House hacking or rent hacking, whichever is
applicable to your situation, are great things to look into in a situation like this. Say John and Jane are living in a higher cost
of living area where the studio apartments in decent and relatively safe neighborhoods
go for about $1,500 a month and three bedrooms are in the neighborhood of $3,600 a month. John and Jane could take on the studio apartment
pay the $1,500 a month plus any utilities and internet and other things that go into
it all on their own or they could move in with a couple of other people that they trust
and split the cost of the $3,600 a month three bedroom apartment and pay $1,200 each. Now course we would still have to figure in
utilities and stuff but since they’re splitting that as well in the 3-bedroom apartment, I
presume, it would still be a more manageable situation for them then it would be had they
gone out on their own. They could do a similar thing with housing
by renting out bedrooms or even entire floors (if the house has them) full-time or even
just occasionally on a site like Airbnb to others and using that to offset some of their
housing costs. But those are three common rules of thumb
that are used to help us determine how much home we can afford. And one thing that I do want to add that I’m
sure many of you have already been asking yourself while watching this: Can we really
trust these rules of thumb when everyone’s situation is so different? My answer would be that these, like many other
rules of thumb is it depends. I wouldn’t just go with any of these rules
of thumb blindly, not because they can’t work, but because doing so discourages us
from looking deeper into our own situations and trying our best to take into account the
rest of our financial picture and what else goes into buying a new home. Because there are other things to consider
beyond these rules of thumb and how much of a down payment you can afford to make on the
home, such as moving expenses, furniture and appliances that you might need to buy, or
at least upgrade, for the home, repairs and remodels that you may or may not end up needing
to do early on with the houses, closing costs, and a whole bunch of other things. So I’d recommend using these rules of thumb
as a starting point. Use them as a way to understand what costs
go into housing and then do some further research on your own because for many of us a house
is one of the biggest purchases we will ever make so it definitely can’t hurt to be a
little extra thorough in our investigations to make sure we don’t make any major mistakes. But that’ll do it for me today once again
if you enjoyed this video be sure to smash that like button if you haven’t already,
subscribe, and hit that Bell next to my name so that you’ll be notified of all my future
uploads. I generally upload every single Monday, and
if you have a friend that would be interested in this kind of content be sure to share it
with them and let’s really get this information out there and start our own Financial revolution.

How to Buy A House WITHOUT GOING BROKE | How Much Home Can I Afford | Real Estate Investing

100 thoughts on “How to Buy A House WITHOUT GOING BROKE | How Much Home Can I Afford | Real Estate Investing

  • April 2, 2019 at 1:26 pm
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    Our home is 13% of take-home pay. We are debt free but the house and Currently have 24 years left on the loan, but hoping to get it paid off in the next 8-10. 52% of our take home pay is disposable income after mortgage, taxes, home insurance, food, gas, utilities, phones, and internet.

    Buy what you can afford not what you want. House poor would really suck. Financial freedom feels amazing.

    Reply
  • April 2, 2019 at 1:28 pm
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    awesome video ! i just started robinhood portfolio challenge $1000 let's see how far i can get this year investing in the market !

    Reply
  • April 2, 2019 at 3:04 pm
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    My mortgage is 17% of my income. I am 8 years away from paying it off, but when I first got the house it was closer to 45% 😂

    Reply
  • April 2, 2019 at 4:31 pm
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    Great video! I didn't know about the Dave Ramsey approach, but I think it's a wise idea for most people! After maxing out a 401K, we spend 18.79% of our take home pay on a mortgage with no other debt (cars are paid off) or 11.68% of our gross. We were still able to get a nice place, just opted for a large townhome over single family to get more bang for the buck. Plus we aren't people who enjoy yardwork, so it is a good setup for us. We try to pay double or triple our mortgage payment each month.

    Reply
  • April 2, 2019 at 6:16 pm
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    I am always cautious about using gross income instead of net income when evaluating these metrics. Using net income will give the best estimation. Just a thought. Otherwise, thanks for the video

    Reply
  • April 3, 2019 at 2:30 am
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    I always get confused what they mean when they say "gross income" and what is the difference between "net" income?

    Reply
  • April 3, 2019 at 4:08 am
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    How about median income? Using average income as example means nothing. With median you might see why most people can't ever afford the smallest home.

    Reply
  • April 3, 2019 at 3:46 pm
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    The key to this is "WITHOUT GOING BROKE", the 36/28 and 30 are pure lunacy, even DR 25% is too rich for my blood too especially if you have other financial goals like providing for a family, saving for retirement, saving for college, giving, etc.

    Reply
  • April 3, 2019 at 4:00 pm
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    Do you have a video around why FIRE people should contribute to 401k's and other tax advantaged accounts? I really don't understand how contributing to a 401k will help me if i want to retire at age 35-40. Would like to understand best how this is done.

    Reply
  • April 3, 2019 at 4:01 pm
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    New subscriber. Love the content. But 13 minutes of content with 20 minutes of ads is shit. Unsubscribed! 😡

    Reply
  • April 3, 2019 at 4:18 pm
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    Im taking over my mothers house and all thats left on the mortgage is 35k. Im going to finance it via VA loan and the monthly payments would be about $250. Lol thats only .5% of my yearly income.

    Reply
  • April 3, 2019 at 4:32 pm
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    Simple solution for those who don’t like math. If a hypothetical mortgage monthly payment is lower than your rent, If you are not loaded and you are going to take out a mortgage, pick a low crime neighborhood and buy the cheapest home there is, whether it’s a condo or a house. If you have cash to pay for an entire home, you can buy wetf you want.

    Reply
  • April 3, 2019 at 5:43 pm
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    I guess this is all theory, on reality you want to get out of debt first and then get yourself a 🏠

    Reply
  • April 3, 2019 at 6:39 pm
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    No way this formula works in LA… very unrealistic

    Reply
  • April 4, 2019 at 2:31 pm
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    How to be a middle class slave

    Reply
  • April 4, 2019 at 2:46 pm
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    Lol not in SoCal

    Reply
  • April 4, 2019 at 8:15 pm
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    The first example is very similiar to my costs and income except for the fact of no down payment, and owe just a little more on college debt. Where I'm located at getting a $1500 mortgate rate is practically impossible without getting a terrible house with several issues with it and being like 80 years old.

    Reply
  • April 4, 2019 at 8:38 pm
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    I use the 28/36 rule but with take home pay instead of gross income. Works very well!

    Reply
  • April 5, 2019 at 12:09 am
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    Start small and build equity. If you try to buy your dream house as your first house, you will probably have a very hard time. If you buy a modest house that needs a little work, you will make out quite well. If you find your self saying "I need a big house because of my kids", then you did it backwards.

    Reply
  • April 5, 2019 at 12:50 am
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    The down side to the Dave Ramsey approach you won't be broke and constantly worried about being forclosed on.

    Reply
  • April 5, 2019 at 1:50 am
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    Using your gross income seems horrible. 30% of your gross could be like 50%+ of your take home.

    Reply
  • April 5, 2019 at 3:33 am
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    how about another simple rule: the amount you can afford on a monthly mortgage is just to double the rent that you are paying right now, would you rather throw away $1 or to invest $2?

    Reply
  • April 5, 2019 at 11:12 am
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    A big thing missing from these calculations is upkeep expense. I think this should be included in the monthly cost. For my home I figure about $150/month for large future expenses such as roof, A/C, water heater, plumbing repair or any other potential issue. This is set aside each month in a separate account (and in addition to the regular emergency fund since these are planned future expenses). Even with that included our home is less than 20% of NET pay. I think a lot of people don't think about these costs when they buy a house and when they do come up they have to take out a loan which ends up costing even more. Just take the roof for example. If a roof replacement is $12,000 and needs to be done every 15-20 years…that comes to $50-$67 per month over the long term. It all adds up.

    We definitely have a slightly above average household income but for a family of 5 we would have to make some major cuts if our housing costs were higher.

    Reply
  • April 5, 2019 at 12:27 pm
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    1:30 min intro makes me angry 😠

    Reply
  • April 5, 2019 at 9:13 pm
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    Good advice, new subbie!

    Reply
  • April 6, 2019 at 1:37 am
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    What about buying a mobile home/manufactured home? Buying a condo? Can you make a video addressing these?

    Reply
  • April 6, 2019 at 11:11 am
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    Or buy and rent houses. You money earnt to pay off house and remaining at end of month for your good doing

    Reply
  • April 7, 2019 at 3:16 am
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    220k in southern california not happening

    Reply
  • April 7, 2019 at 4:18 am
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    Buy a shit shack then upgrade it over the years.

    Reply
  • April 9, 2019 at 6:03 am
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    Great information. The key is executing and taking action. Too many people watch and do little to nothing with the information.

    Reply
  • April 15, 2019 at 6:20 am
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    I would agree most Americans do buy a house above their 30% take home rule. I also know that most of these figures are unattainable the closer you live to major hubs where the housing market can really skyrocket that is forcing people to be towards or higher than 50% take home towards their mortgage, even when they are living in a home below their standards ie size or location. The reality is you have to be living in a fairly cheap area or state to pull this off ideally. You go anywhere with 10% property tax and puff your numbers are off big. People will say than move, but were talking about peoples jobs and families here moving to another state is not ideal for everyone. I myself got a bit lucky being living in AZ and buying my first home a couple years after the crash and had a lot saved up from living so cheap after college building up my career, that my mortgage is only 18% of my take home now. I just feel bad for all the families starting out who will be a slave in debt unless they move up in pay scale pretty fast.

    Reply
  • April 16, 2019 at 2:33 am
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    John and jaine makin $17 an hr. Y'all too broke to get a house

    Reply
  • April 16, 2019 at 4:53 am
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    We make around 75k a year and live in the SF Bay Area. With the 36% rule we could theoretically afford to buy but 36% of our gross income is way too much. ($2160) That's about 50% of out take home pay and that's with no car loans and no debts of any kind. Also that's about a 300k house which is basically a small condo in my area or a 900sq ft.house. We rent a 2k sq ft. Home in a good area for 1900. I will stay renting until the market corrects.

    Reply
  • April 17, 2019 at 11:20 am
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    That hand draws “clip art” real good. 👍🏼

    Reply
  • April 21, 2019 at 2:46 am
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    we had tons of payments so we couldn't buy a really nice home like our friends. we have 401K "payments" IRA "payments" 529 "payments" 457b "pmnts" ect ect 😉 our friends are doing their share to keep that national average of $16K in credit card debt haha.

    Reply
  • April 23, 2019 at 12:33 am
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    Great video! This definitely gave me a new idea for my channel!💪😎

    Reply
  • April 23, 2019 at 12:46 pm
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    If you have debt you are broke.

    Reply
  • April 23, 2019 at 5:38 pm
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    so tired of these animated slide shows with a picture of a hand drawing…

    Reply
  • April 23, 2019 at 7:41 pm
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    Go to 1:46 past the yip-yap

    Reply
  • April 23, 2019 at 11:28 pm
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    Very nice content but please reconsider these gimmicky hand drawing animation. This is similar to those gimmicky Powerpoint transitions. It ONLY distracts. (ie. 8:20 Drawing the brain covers the words)
    There is a reason why this hand animation is very unpopular, especially in pedagogy (e.g. Khan Academy).
    Your video has good content. I wish I could focus on your words and logic while not being bombarded by hands moving and squirming everywhere.

    Reply
  • April 24, 2019 at 12:43 am
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    Were in 2019 and i am surprised that this video was made recently. No home, in a decent area, is under $300,000 in most states. Estimated house payments, are well above $2,000 a month before bills.

    Reply
  • April 24, 2019 at 1:02 am
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    People pay over $1000 in apartment rent? Lol. That's sad. I pay $620 in a relatively safe area.

    Reply
  • April 24, 2019 at 4:25 am
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    Buying a house in Toronto:
    – has a regular salary job

    – uses all 3 rules
    – realizes can't afford a house regardless
    – continue to pay for gas and taxes = 95% of income
    .
    .
    .
    .
    but if i get cancer its free trips to the hospital (y)

    Reply
  • April 24, 2019 at 11:13 am
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    25% method used to work in the 80s and 90s we live in a different reality now

    Reply
  • April 24, 2019 at 9:22 pm
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    Great comedy. I'm from Vancouver.

    Reply
  • April 24, 2019 at 10:43 pm
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    Dan Harmon… Is that u?

    Reply
  • April 25, 2019 at 2:41 am
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    Why do they go by gross earnings when most people only really get to use about 60 percent of that after taxes?

    Reply
  • April 25, 2019 at 4:26 am
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    These rules don’t usually apply in expensive States like LA or NY … because you need $300k a year income for a regular house 🏠 that costs $1,000,000 – And $300k is not a regular salary.

    Reply
  • April 28, 2019 at 4:44 am
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    4:00 I know this is off topic, but it looks like John hooked up with one of his mom's friends.

    Reply
  • April 28, 2019 at 6:04 am
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    So no phone bill huh no car insurance 😑

    Reply
  • April 28, 2019 at 6:04 am
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    Ain’t watching no more lame

    Reply
  • April 28, 2019 at 3:15 pm
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    This is sh1t. With housing so expensive nowadays, how is it possible to put in 28% only?

    Reply
  • April 30, 2019 at 5:24 pm
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    A box is technically a house; it has a door, a window and it's cheap.. so there ya go

    Reply
  • May 7, 2019 at 1:03 am
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    60k take-home from a 72k gross income? How?!?!

    Reply
  • May 9, 2019 at 10:58 pm
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    Why does everyone not factor in income taxes?

    Reply
  • May 28, 2019 at 6:19 pm
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    I wish you could show me the math on this shit

    Reply
  • June 5, 2019 at 11:59 pm
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    Fuck you California…..

    Reply
  • June 13, 2019 at 6:29 pm
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    The drawings are super annoying.

    Reply
  • June 17, 2019 at 3:15 pm
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    Vancouver Housing haHA

    Reply
  • June 29, 2019 at 1:55 am
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    Jesus christ man chill with the almost TWO MINUTE intro

    Reply
  • July 3, 2019 at 7:53 pm
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    what about if I don't have any debt. No student loans, no credit cards, nor a car payment. Would it make sense to use the full 36% instead of 28%

    Reply
  • July 15, 2019 at 5:19 pm
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    30% gross is way to high for my comfort idk y gross is used and not net anyways

    Reply
  • July 17, 2019 at 1:07 am
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    Great informative video but the entire time I was wondering how he was doing all the drawing haha

    Reply
  • July 18, 2019 at 12:32 am
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    Good video, but Dave Ramsey encourages people to save either very large down payments or cash.

    Reply
  • July 26, 2019 at 4:09 pm
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    I love how this doesn't account for the fact that they are likely renting a home currently. That ties into these "debt expenses"

    Reply
  • July 30, 2019 at 7:40 pm
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    My wife and I make $145k a year. If I were to use the 25% method, I wouldn't even be able to buy a 2 bedroom apartment in my area.

    Reply
  • August 3, 2019 at 6:46 pm
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    Very good video. Thanks.

    Reply
  • August 6, 2019 at 8:16 am
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    Man it's hard because your family parents etc will Push you to buy a damn house that will make you house broke

    Reply
  • August 7, 2019 at 10:26 pm
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    So after watching this video, i realized that there is no way me and my wife can buy a house here in kauai even if we put $100k – $150k down payment . I make $14 an hour + $400 – $500 non tax tips and she makes $19 an hour.

    Reply
  • August 12, 2019 at 7:41 pm
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    I believe , you need to buy a house when you have cash for down payment and do not know where to invest. In a long run you will not lose.

    Reply
  • August 24, 2019 at 5:09 pm
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    Should you take advise from someone who takes 1.5 minute to get to the point in a short video?

    Reply
  • August 30, 2019 at 4:40 am
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    House broke means a potty trained dog… a better term is house poor

    Reply
  • September 2, 2019 at 1:33 pm
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    Just work and save for 20 years. Buy a small house in full with cash.

    Reply
  • September 7, 2019 at 10:28 am
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    I'm definitely a 25% rule person.
    Putting all your money in housing when you are under 60 is non-sensical. Diversifying (into REIT, stocks, equities, precious metals, ETFs, cryptos, collectibles, etc) is the holy grail of your 25-55 working years.

    Reply
  • September 11, 2019 at 12:54 am
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    My grandpa bought $400 in stock from Walmart. I’m in his will..

    Reply
  • September 11, 2019 at 12:56 am
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    My dad makes double John and Jaine a year lol

    Reply
  • September 11, 2019 at 6:28 pm
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    Property taxes in Houston are around 9,000/ yr for a 250k house

    Reply
  • September 15, 2019 at 12:26 am
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    Me at 15, let me try to understand ,watches video

    Huh whatttttt ,fuck it nvm

    Reply
  • September 24, 2019 at 7:25 pm
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    All there rules are for idiots, the only way to not be house poor is to buy a home being debt free

    Reply
  • September 25, 2019 at 9:55 pm
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    I hate the drawings

    Reply
  • September 27, 2019 at 8:06 pm
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    Really great video in terms of stats and getting to specifics, but man so much marker animation which looks so artificial and digressing.

    Reply
  • October 3, 2019 at 6:32 pm
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    Shouldn’t buy a house until you have 3 to 6 months of living costs in savings for emergencies

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  • October 7, 2019 at 4:59 pm
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    Well my house is £800 so £400 and car £109 I just lost my job my 2 months saving ran out in 3 months first house that’s cheap for our location but still minimum wage is £8.30 but rents 3/4 income DONT LIVE IN ENGLAND ITS Shit! No jobs tax on everything if you think coming here will give you a better life think again it’s difficult for under 25s

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  • October 9, 2019 at 8:56 am
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    1200$ an 1200$, doesn't equal 3600$ lol,

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  • October 10, 2019 at 5:38 pm
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    Intro is too long. Quit advertising

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  • October 29, 2019 at 2:54 pm
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    you helped me out so much

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  • October 30, 2019 at 12:55 pm
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    Do you have to get a mortgage/loan to buy a house?

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  • November 3, 2019 at 3:22 am
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    I love this video! I remember my home buying process was like walking though a minefield, lol! I would get my notes together and make a video about my journey soon!

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  • November 4, 2019 at 3:23 pm
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    You know how discouraging all of this is given that I work in a master's required position that I work well over 40 hours a week at, but am salary and my husband who makes more than me works endlessly cannot afford even a decent 1 bedroom apartment and based on all of this cannot buy even the cheapest of homes. We work so hard and can't seem to make enough money to even buy an absolute dump of a home… V.v

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  • November 8, 2019 at 8:09 pm
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    So in words… I will never own a home😩😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭

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  • November 10, 2019 at 2:55 am
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    starts at 1:30

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  • November 17, 2019 at 3:17 pm
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    I was under the impression that the lender doesn’t include student loans into your debt to income ratio. Granted, any rational person should factor it in, but I didn’t think the bank did. Am I wrong?

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  • November 28, 2019 at 6:36 pm
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    I personally follow the Dave Ramsey Rule I also think it is wise to have at least 20% down before you buy the house to avoid PMI. I work two full-time jobs so when it comes to calculating my house costs I do not count my second job I would want to be able to make the payments off of my one main job if I was to lose my second job. Dave Ramsey also says that you need to be out of debt and have your six month emergency fund in place before you purchased a home and if you can buy the home all at once with cash that is the best.

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  • December 3, 2019 at 1:19 am
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    🤯

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  • December 4, 2019 at 9:58 pm
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    Gross income is a joke…DONT USE THIS METHOD…..USE NET INCOME..

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  • December 5, 2019 at 1:12 pm
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    Why do people suggest using gross when you don't see some of that money? Taxes and 401k takes some of that as well as other things. Why don't they start talking about what we see after tax on our paychecks?

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  • December 27, 2019 at 2:40 pm
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    I skipped to 3:20. Hardest cringe in my life

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  • January 6, 2020 at 5:08 am
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    People looking to buy a single family home for an “investment” is weird. This is a home for kids to grow in. You want investment get multi family, triplex or fourplex for $250k and have 4 people paying your mortgage. Scale up 3-5 years later. In 20 years you should have a few million.

    Reply
  • January 7, 2020 at 5:47 pm
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    inunderstandable, too large, too much words 🙁

    Reply

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