tag:blogger.com,1999:blog-4921609404771984660.post6969317597883313489..comments2024-02-14T00:56:27.534-08:00Comments on Homeowner by 30!: WWDRD?Jessica Fletcher-Fierrohttp://www.blogger.com/profile/04721145697646712842noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4921609404771984660.post-85878760832934550712022-04-25T10:49:44.804-07:002022-04-25T10:49:44.804-07:00Appreciate yoour blog postAppreciate yoour blog postWalterhttps://www.walterparsons.com/noreply@blogger.comtag:blogger.com,1999:blog-4921609404771984660.post-37539964838353174762011-11-03T09:26:33.409-07:002011-11-03T09:26:33.409-07:00The 7 Baby Steps work the best when you are gazell...The 7 Baby Steps work the best when you are gazelle intense. You should start saving for a home after you have completed all the steps that apply to you. For example, only steps 1-4 apply to me.<br /><br />If you were gazelle intense and took the money currently going to your retirement and savings you would be be out of debt prior to October of 2012.<br /><br />Take this money and pour it into your 3-6 Month eFund you would have it in no time.<br /><br />Then start to contribute 15% of your household income to your retirement Roth IRA/403B.<br /><br />After all this is in place, you could funnel all unallocated money in your budget to a HOUSE FUND, which will most likely build really fast.<br /><br />Have you run your numbers apply the DR logic to see where you would be or how long it would take you to get where you wanted to be.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921609404771984660.post-16655161737888178562011-11-03T06:19:35.341-07:002011-11-03T06:19:35.341-07:00I've heard Dave discuss this on his radio show...I've heard Dave discuss this on his radio show and he does recommend a fully funded emergency fund before purchasing a house. Dave's first choice is to pay cash for a home, but even he acknowledges that this isn't feasible for most people and "approves" of 15 year mortgages.<br /><br />We purchased our first home with a 20% down payment and that left us with roughly $2,500 in our savings account. We also had student loans and car loans at the time. But, we had 2 income sources (DH and I) and could meet our monthly obligations on just one income (not sure DR would care about that, but I felt like we had a safety net in case one of us lost our job). It worked out okay for us, but if I could go back in time, I would have sucked it up in the apartment for another year or so to beef up the savings.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921609404771984660.post-30721184228040287212011-11-02T23:44:35.867-07:002011-11-02T23:44:35.867-07:00What are your bills a month? If you have no house...What are your bills a month? If you have no house payment I would strive for a three month bare bones savings. We have a house payment ,a car, payment, power, phone. We do not have to water a lawn if we are in emergency mode. In emergency mode you go get food stamps, or food bank or church. Emergency ,means no job, no income it does not mean all the money it takes you a month to live now. Save three months income then fully fund a down payment. Also start looking for repo's, they are all over right now. If you have no debt and a $9,000.00 emergency fund the bank is seriously going to look at you if you offer to buy a house. You won't have to use the fund but you will look pretty darn good to them.Out My windowhttps://www.blogger.com/profile/13456481267171643227noreply@blogger.com