If people bought homes the way I imagine

Tonight, after a long fire fighting week, which began last week, I just have no more energy left by 8pm. The kids are the bed and my brain's fried. It seems many issues go on in my transactions these days. After all, I do start my day early at 3:16am everyday.

As tired as I am tonight, I can't help but to daydrram, the perfect way of buying a home in Frisco TX.

i've always been a long time Dave Ramsey fan (since 2006) and follow his ways very close, I realized this morning on my 3:30am run: If more people bought homes the Dave Ramsey way, we have less transactions going south, less disappointments and more security in knowing we have the ability to close.

If you are not familiar with Dave Ramsey, he is a syndicated talk show radio host about finances. He doesn't believe in debt and he preaches about the 7 baby steps:

Step 1: Save $1,000 in the bank as baby emergency (This is hopefully act as a Murphy repellent as you journey down the path of never going back to debt).

Step 2: Pay off all consumer debts (from smallest to largest) regardless of interest rate. Remember that getting out of debt is a marathon. It requires persistence. It's not a marathon or a quick fix. It requires a complete mindset change of debt. A new lifestyle. Consumer debts include car loans, student loans, personal or family loans. all loans but the mortgage.

Step 3a: Save 3-6 months worth of expenses as a rainy day fund.

Step 3b: Save for down payment of a home.

Step 4: Save 15% of your income for retirement (once all consumer debts are paid off).

Step 5: Save for college

Step 6: Pay off the mortgage. 

Step 7: Save, increase wealth and be generous (Give).

Dave Ramsey continues to recommend the most ideal home buying situation:

- 20% down payment 

- 15 year mortgage

Can you see I would say homebuyers who choose this route almost always have no issues getting a full loan approval? It'd be a mortgage officer's dream come true too!

Like I say, I can always daydream and I'm getting very good at it!!!

Content & Photography Copyright © 2013 by Loreena Yeo (3:16 team REALTY)
AR November Contest: If people bought homes the way I imagine