@@LaCrux because most of what she said is a lie. That 8000 a month of take-home is more likely closer to half that. She needs to make up the story properly to justify being dumb with her money hence the beating around the bush
I like how he initially points out to her that she has just created all these reasons to justify making a terribly bad financial decision, and she has NO IDEA what he had just said
We bought a 550k home with $0 down for VA loan and only paid $130 total to close on our 3rd VA loan home. However we have a solid income of 175k a year. The money used for down payments was used for investments instead.
Yes! I'm guessing that he's trying to wean himself off the desk to retire so I'm guessing he does this with his protege's anyway. But it will never be the same without him!
I get irritated by stay-home women who call about spending too much. If you’ve committed to stay home, you cannot live as if you’re in a 2-income family.
They save 50K a year from no daycare for the kids.That's why she doesn't work! And she cooks for the family and stares at the wall while her husband works 10 hours a day.
You can see how frustrated some commenters are getting with the caller from word one. And that's with a teeny tiny fraction of the number of interactions that Dave has had for decades in person and on the radio. As blunt as he can be, it's actually impressive that he has any sort of patience left at all.
@@larissagonzales6075 Is your advice and approach unsolicited sometimes? I am very blunt and honest but I first tell people that they should prepare for that type of answer if they really want my advice.
It's when Dave is absent that you realize how much his authority and bluntness keeps callers in check. These guys seem like nice people, but that's the problem. You need someone at the helm who isn't going to let people ramble on like this justifying their decisions. Dave would have shut her down within the first 30sec of the call.
A $550k house with no downpayment its about $2500 for the principal and interest only. Add extra for everything else including property taxes, insurance etc. This payment is easily over $3k+
@@babbahassa she won't be a stay-at-home mom for much longer unfortunately. In six to twelve months, they're going to owe $500K on a house they wouldn't be able to get $375K for.
This irritates me. Here we have ourselves a housewife that wants to fit in with the Joneses. She convinced her husband to take a zero down mortgage on a half $1 million property on an 80 K a year income. The fact that she called in being so proud of herself of the hole she dug her family is crazy
On the one hand, yeah, it was kind of tooth gritting. On the other hand, it was kind of interesting to watch her just keep digging and digging and digging, and to see just exactly how deep of a hole she was willing to dig to justify her fantasy.
When someone asks you how much is your take home and it takes you a minute then you have no clue what’s coming in. Honestly, I’m surprised they even paid off their debt because it seems they did so without budgeting.
Im guessing they sold their previous house for a profit and used that money to pay off debt in one fell swoop. I just can't imagine that someone who sacrificed and really worked hard at paying off debt would ease right back into a half million dollars of debt.
Yeah, you are right, I didn't think of that, a person should know their take home pay how can you not know that? Everyone likes seeing the checks come in.
550K is going to be A LOT more than 2500 a month, she must not be including taxes? I make close to 95K, no kids, and only a car payment, and I could not afford that house. They are NUTS and this will not end well. They will be house poor!!! They are forgetting that houses cost money with utilities and maintenance and repairs!
Wow $2,500 just for the mortgage. To inexperienced home owners it sounds doable but you forget the home owners insurance, property tax, hoa, utilities, flood insurance, home maintenance costs per year. With 8k take home pay and I’m thinking it’s probably lower than that, they won’t be able to save anything for retirement and or enjoy life. They are house poor.
@@BengalTiger47 not necessarily it depends on all the variables but potentially isn’t depending on rate and downpayment especially . My mortgage is not much more than that for a similar purchase price. I haven’t listened to this video in a while though but when I commented there must have been a pretty good indication that that’d the total mortgage . It’s also very possible that it’s not . Example : the P&I on a 550K price with 10% down = 2222.7. With PITI : 150 MI, $1500 insurance and $3500 taxes = 2789. If we were to put more money down , take away MI lower taxes , lower rate we could get it to $2500. We could also raise all of those things significantly and the payment would be way higher . So it depends !
I'd rather have the average plane house and a well-raised family than the big house where both parents have to work 50 hours a week and never see the kids
Like Dave says "If you don't like being DEBT FREE, you can easily get right back into DEBT. This caller RUSHED into this house like it was a BLACK FRIDAY deal that they couldn't pass up.
When I was young and dumb back in 1984 I bought a new Toyota Corolla with 13% financing. Everyone laughed at me. I just worked, saved and paid it off. Still driving it today. Most of us learn from stupid mistakes.. just don't repeat them LOL.
@@babbahassa my suggestion would have been to break the contract. Take a small loan (or sell a car) if need be to pay off any penalties. Just be honest with the seller and the Realtor that you got dreamy eyed and can't afford the house. Then chalk it up to "stupid" tax and start over doing it right.
Well the principle according to Dave is that if you can't afford to do it on a 15-year, then you can't afford to live in that house or that area. (Either that, or you need to save up for a bigger down payment). I think that's where George was going.
@@MichaelAnderson-wk1no that is very well known, yes. However, he didn't say break it because you cannot afford it, he basically said double down. Newer guy needs to work on wording..
What the heck is the actual question? Why do women always explain their entire life story instead of just asking the dang question. It’s exhausting 🤣. And I’m a female!!!
That you can see the truth and admit it as a female makes you marriage material right there. Most women don´t even care about being right, they just want to feel good about being wrong. LOL
Not to say that it's anything wrong with it, because it could be a good characteristic in some situations, but it seems like women have very long and emotion driven backstories that they use to rationalize bad decisions. That's why she went on for so long before getting to the meat of the story and why she avoided the question when they asked what her take home was in context of a half million dollar mortgage. She drew a fantasy in her head that made sense and side stepped the hard facts that would have suggested that she do something different.
@@caezar044 I totally agree. She seemed like she wanted them to tell her the purchase was a good idea and she thought all her details would get her that answer.
I do loans and I’m actually wondering even how the VA will approve this after hearing this. In all luck, this might fall out when it’s hits underwriting. The income sources are gonna struggle with their lender.
The real estate agent should be censored for even showing them such a place! If this loan goes through VA has also lost their minds and of course we will be picking up the bill when they can’t pay! Sad because neither one apparently learned anything in the military financial classes they are required to take either.
Their monthly payment will probably only be around $2500 a month, and that includes principal/interest/escrow. I have a 30 year VA loan at $400k and my payments are less than $2000 a month and I live not too far from where they are.
@@jordandowland7256 Caller doesn't have a paying job. Her husband has a shaky in come of 'maybe' $100K which is more like $30K. They have no down payment. This is how people lose everything, even when they have nothing.
VA approves over 500k loans. And they have no debt. Mortgage payment is only 30 percent of their take home. How is tjos a bad loan from a lenders point of view?
I would describe her as either nieve, entitled or financially inept. Housing prices are currently at (or near) their peak so within the next 12 months she will be underwater on the house. Any disruption in their income (or any type of significant life event) will cause their finances to quickly spiral out of control. Unfortunately many other people will be in this same situation as property values decline over the next few years.
I live in this area with my family, over 30 years. A starter home is about $350k. She is skipping over a 450k home to buy a similar home but with land. Land is what costs here, not the house. She is not being honest. Not the type of person I want living in this community. People moving to this area have a similar mindset, so materialistic and needing to impress and show off. I am so ready to move out of this area. Family is what is keeping us here, for now.
The difference between a video with Dave and without is just huge, I've been thinking this for a number of months. I like the Co presenters when they are alongside Dave but make no mistake or doubt that Dave IS the Ramsey show.
It might be ok yet though. Dave had a lot of time to get to this point and most of the other personalities are young and/or newer to radio than Dave. They have time to get seasoned. 🤷🏼♀️
I know the area this lady's talking about; gorgeous area, lots of lakes, forests, and mountains, etc. Place is paradise, but it's also a retiree hub where you have to either have family established there or be coming in with a lot saved up just to get started. It's absolutely not a great place for a starter family just getting on their feet. If she'd talked about these numbers 10-20 years into her future it'd be one thing, but as it is now the Idaho Panhandle is going to run them dry. Get into something cheaper while you still can.
One thing they did mention that’s false is PMI. No PMI for a va loan. Funding fee, but if they have a 10% disability rating, that fee is completely waived. It’s not as terrible as they make it out to be making the VA loan sound as if it’s just a 0 down FHA loan.
THANK YOU for your comment!!! I can tell that the overwhelming majority of people leaving comments know nothing about veterans benefits which mean they didn’t serve our country🤦🏽♂️🤦🏽♂️🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
I’m in North Idaho and our county assessor has doubled the value of everything in order to increase the property taxes. It’s a BAD idea to be buying homes here right now.
stop letting her ramble. Make her get to the point. She barely even let out what their income is because she didn't want to hear that they agreed to commit way more than they can afford. Her question of where to spend the discretionary spending is inapplicable since it's all going to minimum mortgage payments anyways. Dave's advice would have been "get out of the contract even if you can't get all of your deposit back".
That was exactly my thought. I said that’s not bad, 2500 mortgage with 8k take home. But no way with nothing down it’s only that. Unless taxes are crazy cheap.
I also think that she lied about her net income. If they even earn $100k per year, I am sure that was gross. An even worst case is that her husband's business is one where the people pay him cash and they aren't setting aside money for taxes so she thinks that all of the money coming in is there's to play with and they will be in for a rude awakening when the tax man comes in April.
My wife and I bought our home in a similar way. Nothing down, 30 fixed, no emergency fund, low income. We were soo house pour we couldn't afford a $100 push mower for two years. We never should have bought. They should ask the sellers how to back out of the deal or don't move in and relist immediately, a few thousand under what they paid. A small debt to remove the mill stone from your neck is a better solution to this problem. They're going to be drowning for years. Worst decision of their lives.
I just sold my mom's estate. In the state of Oregon the buyer can back out of the deal all the way up to signing closing documents with no reason other than they changed their minds. The seller cannot back out. It doesn't matter that they have signed earnest money, signed approval of the selling price or anything else.
I really wish they would invite a knowledgeable, license loan officer on the panel as well. No VA loan has PMI (mortgage insurance). It absolutely makes no sense to do a 15 year on a VA Loan, especially since rates are the same on a 15/20/25/30 year terms for VA loans.
Yes, that is the beauty of a VA backed loan. No down payment required. It's a Veteran benefit. Also, for anyone wondering, only one of you needs to be a Veteran, not both.
I had a friend who lived in the RIGHT neighborhood. But they were house poor for at least a decade. The house had very little furniture and she seldom had any money in her pocket. They eventually sold it and moved to my middle class neighborhood.
I don't know what is up with my generation that are now becoming parents, but they base all their life decisions based on their kid's wants. I grew up in a household that was tight on money and I shared a bedroom with my brother and sister for a while, then it just was my brother. We didn't have a huge yard either. There are parks, and usually some open area somewhere where a lot of kids will play. We only had a basic four-door car and although it would have been nice to have a big nice SUV, it wasn't needed people it just seems like too many people now are basing huge financial decisions on Comfort creatures for their children. Then the parents start arguing about finances and that is way worse for the kids
This is a horrible call / I feel sick for them. That’s wayyyyyyy wayyyyy too expensive for their income. My goodness. I sincerely hope they backed out. That’s a nightmare of house broke
My household income is more than $100k and we don't have nothing close to that mortgage. I don't know who approved them but they don't make enough for that house.
If you look at the area they are talking about they can they just need the nicest house with the biggest yeard and I bet with some very nice updates. They just are not thinking logically.
@@elizabetha8565 I don't disagree with you. 🙂 But I also kind of got the feeling that she wasn't being completely objective about their earnings...she kind of wavered in the beginning about her husband's business being "new"... Most of her behavior/words pointed to justifying poor choices.
not to say one is better or worse, but this is a good example of how a woman can get more focused on emotion rather than strategic planning. She needed outside help badly, and i wish her the best.
She took such a pause to say her take home pay..... 100% that was an inflated number, and she probably even added in what the business takes in before cost........
problem with people who do not work in the business - they only see the money coming in and not the expenses going out. I had the same problem with a girlfriend years ago. She once saw the accounts receivable sheet and couldn't understand why I didn't have new cars, a better house, etc etc etc. I ended up having to sit her down and show her ALL the books so she could understand. She never did.....we broke up a few months later. LOL
At 77 and like them, a vet, I've pretty much done it all. While I'm interested in the Ramsey team's thoughts, I can make my own judgement. And here it is--Losing the new job is the biggest risk I see. Otherwise I think the caller's doing everything in the best way possible. It's what I would do; in fact, looking back on it, it's what we did! And it worked out great!
@@northwestmotoadventures999 Dont pick the best looking ones in the heart of the city then. I just checked and plenty of 2-3 bedrooms for 2k. Rent is the most you pay per month. Mortgage is the least you pay.
@@TheLivedeath The caller was talking about a house with property. 3k plus for acreage. I'm not looking for rental I'm selling my house and leaving North Idaho. The small towns have been overrun by the west coast states.
When people use the word "blessing" in one of their first sentences, I immediately assume they're morons. And when they have serious overuse of the word "so", as this caller did, I know they're about to lay out a complete shitstorm.
my GF and I pull 170k per year and purchased a 460k home with 50k down and we had to have a really long discussion about that. payment is about 2200 a month. so 1100 each person. i feel for this family, what a stupid decision, they are probably going to lose the home in the future, i don't think she was honest about their take home pay either.
Suzanne is trying to justify their extreme high lifestyle wants! Come on in northern Idaho a $450k isn’t a starter home? Also every home is a fixer upper! I call B.S. on what she said.
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The VA loan makes it so you dont pay PMI. Does that change anything?
😂
She called for validation not understanding....NEXT CALLERRRRRR
She found out Dave’s schedule and called in when he was out of the office.
Ok that was a good one.
😂😂😂
LOL
Lol
🤣🤣
I hate callers like this… GET TO THE POINT 🙄
Yes! GET TO THE POINT. Long winded people exhaust me.
@@LaCrux because most of what she said is a lie. That 8000 a month of take-home is more likely closer to half that. She needs to make up the story properly to justify being dumb with her money hence the beating around the bush
Thank them for adding Deloney for the boring calls.
It's her voice...that voice!!!
@@JustATotalNerd You called it! I sensed pretty much exactly what you just said too. She's trying to BS, avoid answering questions etc.
This lady has danced around the hard numbers so much, it's all emotion and the kids and the land and the dream house to her.
She wastes so much of the call with chit chat like she thinks she's going to hypnotize these guys into agreeing with her.
When you know you messed up and want somebody else to feel bad for you and tell you that you did the right thing
This is what it means "Living the American Dream in the American Way"....
Yep I smell divorce. These type of women or men sometimes are never satisfied.
@@kartboarder22g17 I feel bad for the husband, I hope hes ok. He might need a 3rd job.
I like how he initially points out to her that she has just created all these reasons to justify making a terribly bad financial decision, and she has NO IDEA what he had just said
She did NOT want to hear it.
TRUTH! He was like you have already justified this terrible mistake and she didn’t want to hear it
She knew exactly what she meant. She was just a deer caught in headlights.
When our culture is about emotions first and rationality never....you get this
Well they paid off debt so they thought this was the next logical step.
zero down on a $550k home, absolute madness. Also we need Dave in all the calls to put a stop to people waffling
She is going to pay more 3100 tax heat hot water taxes insurance
How is that even legal? In NY they make you put down 20 percent and if you don't put 25, you pay title insurance.
@@georgewagner7787 it’s a va loan
I live in BC. You can’t get a one bedroom condo for that price here lol
We bought a 550k home with $0 down for VA loan and only paid $130 total to close on our 3rd VA loan home. However we have a solid income of 175k a year. The money used for down payments was used for investments instead.
They need to make a "Dave Reacts" series for calls like this when he's out of the office
Agreed.
@@JewelBlueIbanez Yesss!
ABSOLUTELY!
Yes!
Yes! I'm guessing that he's trying to wean himself off the desk to retire so I'm guessing he does this with his protege's anyway. But it will never be the same without him!
This is exactly why i like Daves interruption almost fell asleep listening to the lonnnnggg story
Watch on 1.5 speed
💤lol
Agree 100%. Halfway through and just getting to the question 😴
Dave: “So how can I help you TODAY?” or “”What is your question?”
Yep…too boring. Couldn’t make it through this one.
Buying a 550K house while having a new business is just suicidal. I think Dave would have said "sell the kids" lol.
No, Dave thinks everyone should have a bunch of kids.
@@MrNeptunebob He has never said that. It depends on the family, financial situation, etc.
Put the kids to work. Open up a lemonade stand. 🍋
Agreed buy a house in cash loans are for losers
I get irritated by stay-home women who call about spending too much. If you’ve committed to stay home, you cannot live as if you’re in a 2-income family.
The worst ones call in to ask how they can get their husband to make more money.
They save 50K a year from no daycare for the kids.That's why she doesn't work! And she cooks for the family and stares at the wall while her husband works 10 hours a day.
@@medi4027 Okay, so how about they put that 50K savings into a down payment on this house!
@@tmusa2002 It was sarcasm, she should work. Minimum wage can make 30K easy and a yearly Nanny would be 10K
@@medi4027 Sarcasm on my part, too! LOL. We are good at it, too. 😆
Who wants to bet 100k is not their real income and just an optimistic projection?
Yeah..the pause beforehand said it all.
@@TheAgentmigs that and avoiding the question at least twice before stuttering out an answer with caveats
Yes, because she kept hesitating
Yep that's a sucker bet. No way do I think they make that much.
Yeah, it's a NEW business...
I kinda have a whole new look at Dave’s bluntness, it’s required sometimes lol
That's what struck me to change. I've tried this bluntness with people and people get annoyed and shocked with me.
You can see how frustrated some commenters are getting with the caller from word one. And that's with a teeny tiny fraction of the number of interactions that Dave has had for decades in person and on the radio. As blunt as he can be, it's actually impressive that he has any sort of patience left at all.
Yes, because often times these callers waste resources (and wisdom) that could have otherwise been used on a humble caller.
yep, another caller who can't stop running their mouth
@@larissagonzales6075 Is your advice and approach unsolicited sometimes? I am very blunt and honest but I first tell people that they should prepare for that type of answer if they really want my advice.
I love when people tell you about their offspring, then pause for the expected congratulations. Also, veteran dropping. Oh, and upspeak. She’s great.
Yep, she did both. Incredibly lame and trite
Relax
Well there is zero wrong with being a proud veteran and is part of the story as to how they can do no money down and have no PMI.
“We had started with a budget that was a bit lower and we decided to go higher…”
That’s when you know it’s going to be a bad call.
sometimes i hate Dave with his impulsive "sell the wife, sell the kids," attitude but where is he when you need him?!
Sometimes, if you need money, that's what you need to do.
Beans and rice is my favorite. Been there, done that!
It's when Dave is absent that you realize how much his authority and bluntness keeps callers in check. These guys seem like nice people, but that's the problem. You need someone at the helm who isn't going to let people ramble on like this justifying their decisions. Dave would have shut her down within the first 30sec of the call.
A $550k house with no downpayment its about $2500 for the principal and interest only. Add extra for everything else including property taxes, insurance etc. This payment is easily over $3k+
GREAT point!
I’m knee deep in this lady’s life story
I'm 2hrs in and I still have no idea what her question is..
Does this lady ever get to the point??
🤣
@@wahinepaddler4 LOL. So true. All she wanted was for John and George to validate her stupid financial decision.
I have a feeling the 100k take home pay is more of a best case scenario that doesn't always pen out.
pan out*
I actually bet its 100k gross and not take home, she didn’t know an exact number and she’s also a stay at home mom
@@babbahassa She pretty much admitted his income is unstable.
@@babbahassa she won't be a stay-at-home mom for much longer unfortunately. In six to twelve months, they're going to owe $500K on a house they wouldn't be able to get $375K for.
Family income is less than 45k. Stupid and embarrassed.
This irritates me. Here we have ourselves a housewife that wants to fit in with the Joneses. She convinced her husband to take a zero down mortgage on a half $1 million property on an 80 K a year income. The fact that she called in being so proud of herself of the hole she dug her family is crazy
You shouldn’t assume it was her convincing him. It might’ve been him convincing her.
@@tessaburnett5084 based on the way she was describing how she just loved the new purchase, it’s an educated guess to say this was her dream
@@tessaburnett5084 Yeah most of the time it’s women digging the men in a hole lol
@@minimalist_monk this is the leading cause of men digging literal holes to put their wife in....or oil tankers lol
How did this become her being the silly housewife spending all her husband’s money? Relax, sir.
This chick can’t answer a question without backpedaling. She’s really great at justifying a bad financial decision
I’m knee deep in some beans & rice listening to this woman’s fantasy crumble
HILARIOUS!!
😂😂😂
Me too! Having ramen noodles from the bag so I can prepare a healthier meal
But it's Suzanne's FOREVER HOME!! SHE HAS TWO BABIES AND NO JOB! AND SHE'S A VETERAN! AND SHE HAS BLESSINGS!
Ps i wish I had Santos' recipe for rice and beans. He was a cook at my first job and was from PR. Awesome
Very shocking and scary how she said they're out of debt, yet they're adding $550k to their debt total with zero equity in the house.
"We just paid off our debt!"
*Immediately adds over half a million dollars in debt.
With the VA funding fee they will probably be in negative equity
@@miraclemac7219 hahaha right? Does that not sound weird to them?
It’s secured debt, as long as their house doesn’t plummet in value, it doesn’t actually affect their net worth…
Yea seriously
Anybody else gritting teeth the entire time praying for the punch line finally!? Lol
Dave usually will make them get to the point. She’s giving too much backstory!
@@eazeetarget and future story.
On the one hand, yeah, it was kind of tooth gritting. On the other hand, it was kind of interesting to watch her just keep digging and digging and digging, and to see just exactly how deep of a hole she was willing to dig to justify her fantasy.
When someone asks you how much is your take home and it takes you a minute then you have no clue what’s coming in. Honestly, I’m surprised they even paid off their debt because it seems they did so without budgeting.
Im guessing they sold their previous house for a profit and used that money to pay off debt in one fell swoop. I just can't imagine that someone who sacrificed and really worked hard at paying off debt would ease right back into a half million dollars of debt.
Yeah, you are right, I didn't think of that, a person should know their take home pay how can you not know that? Everyone likes seeing the checks come in.
OMG!!!! YES!!!! THAT IRRITATED THE HECK OUT OF ME. IM IN CAPS FOR A REASON! IM SCREAMING IN THE INSIDE
Maybe they thought that their debt was paid off when it really wasn't.
550K is going to be A LOT more than 2500 a month, she must not be including taxes? I make close to 95K, no kids, and only a car payment, and I could not afford that house. They are NUTS and this will not end well. They will be house poor!!! They are forgetting that houses cost money with utilities and maintenance and repairs!
Comments down below said closer to $3500.
A 15 yr??? Why!?? When u can get a lower payment at 30 yrs and just send in the 15 yr payment when ever you're able??
At their age, I actually agree with this!
There is no way a $550k home with $0 the mortgage is $2500. It is closer to $3500.
“You’ve laid the ground work to not make a good decision” is a great open and she straight up ignored it.
Dave would’ve stopped the rambling an got straight to it.
He would be like.... so what's your question... 🤣
*have
@Anthony Harris 🤣🤣🤣 right
@Anthony Harris haha he’d be like beg them to get out of it
Wow $2,500 just for the mortgage. To inexperienced home owners it sounds doable but you forget the home owners insurance, property tax, hoa, utilities, flood insurance, home maintenance costs per year. With 8k take home pay and I’m thinking it’s probably lower than that, they won’t be able to save anything for retirement and or enjoy life. They are house poor.
This is correct! the payment will end up being $3k+/month. Not smart if they want to enjoy life like you mentioned!
No she probably
Means the total
Mortgage including all
Those items is $2500
@@homesbyamina a 30yr loan payment on a $550k mortgage with escrow is way more than $2500.
@@BengalTiger47 not necessarily it depends on all the variables but potentially isn’t depending on rate and downpayment especially . My mortgage is not much more than that for a similar purchase price. I haven’t listened to this video in a while though but when I commented there must have been a pretty good indication that that’d the total mortgage . It’s also very possible that it’s not . Example : the P&I on a 550K price with 10% down = 2222.7. With PITI : 150 MI, $1500 insurance and $3500 taxes = 2789. If we were to put more money down , take away MI lower taxes , lower rate we could get it to $2500. We could also raise all of those things significantly and the payment would be way higher . So it depends !
She has to go back to work....now you have to question whether giving up being a stay at home-mom was worth the nice house and yard...
Bingo
Especially when lots of schools are indoctrinating kids. Not a good time to NOT be a very involved parent.
I'd rather have the average plane house and a well-raised family than the big house where both parents have to work 50 hours a week and never see the kids
Massive justification by the caller. "Can't find even a starter home or fixer-upper for $450K"?!!!! Bullsh*t!
They have ZERO for a downpayment.
Yeah, a quick zillow search shows plenty of decent houses for the 450K range in that area.
Trying to win a house with $0 down against other buyers offers is probably impossible.
Her girls (and herself) deserve the best! /s
@@tylerschoulte7513 not as long as they have a valid approval letter from a VA lender
I bet the family she's wanting to be near is DREADING her moving close to them.
Like Dave says "If you don't like being DEBT FREE, you can easily get right back into DEBT. This caller RUSHED into this house like it was a BLACK FRIDAY deal that they couldn't pass up.
When I was young and dumb back in 1984 I bought a new Toyota Corolla with 13% financing. Everyone laughed at me. I just worked, saved and paid it off.
Still driving it today. Most of us learn from stupid mistakes.. just don't repeat them LOL.
If they cannot afford the house on a 30.. telling them to refinance to a 15 would push them well over 31% of take home pay...
I know right not sure why he suggested that it made me pause
@@babbahassa my suggestion would have been to break the contract. Take a small loan (or sell a car) if need be to pay off any penalties. Just be honest with the seller and the Realtor that you got dreamy eyed and can't afford the house. Then chalk it up to "stupid" tax and start over doing it right.
The caller can afford the house!
Well the principle according to Dave is that if you can't afford to do it on a 15-year, then you can't afford to live in that house or that area. (Either that, or you need to save up for a bigger down payment). I think that's where George was going.
@@MichaelAnderson-wk1no that is very well known, yes.
However, he didn't say break it because you cannot afford it, he basically said double down. Newer guy needs to work on wording..
What the heck is the actual question? Why do women always explain their entire life story instead of just asking the dang question. It’s exhausting 🤣. And I’m a female!!!
That you can see the truth and admit it as a female makes you marriage material right there. Most women don´t even care about being right, they just want to feel good about being wrong. LOL
Not to say that it's anything wrong with it, because it could be a good characteristic in some situations, but it seems like women have very long and emotion driven backstories that they use to rationalize bad decisions. That's why she went on for so long before getting to the meat of the story and why she avoided the question when they asked what her take home was in context of a half million dollar mortgage. She drew a fantasy in her head that made sense and side stepped the hard facts that would have suggested that she do something different.
@@caezar044 I totally agree. She seemed like she wanted them to tell her the purchase was a good idea and she thought all her details would get her that answer.
She is looking for affirmation on her terrible decision.
To get u to see it from our viewpoint
I lost interest halfway through her rambling story. Sigh.
"Mister Madison. What you just said, is one of the most...."
she's probably one of those "free spirits"
@@webfreakz Wherever there is a free spirit, there is a simp husband
@@TheLivedeath i'm afraid so, this gal is all over the place wow with her story
@@webfreakz yea free spirit stay at home wife
I do loans and I’m actually wondering even how the VA will approve this after hearing this. In all luck, this might fall out when it’s hits underwriting. The income sources are gonna struggle with their lender.
The real estate agent should be censored for even showing them such a place! If this loan goes through VA has also lost their minds and of course we will be picking up the bill when they can’t pay! Sad because neither one apparently learned anything in the military financial classes they are required to take either.
Their monthly payment will probably only be around $2500 a month, and that includes principal/interest/escrow. I have a 30 year VA loan at $400k and my payments are less than $2000 a month and I live not too far from where they are.
@@jordandowland7256 Caller doesn't have a paying job. Her husband has a shaky in come of 'maybe' $100K which is more like $30K. They have no down payment. This is how people lose everything, even when they have nothing.
We can only hope that an underwriter will be their hero, and save them from this stupid financial decision!!
VA approves over 500k loans. And they have no debt. Mortgage payment is only 30 percent of their take home. How is tjos a bad loan from a lenders point of view?
Her pause after saying “and I’ve got 2 baby girls” waiting to be congratulated. What an achievement 😂
Essentially house broke. Arrogant caller. Wish Dave would have handled this one.
😅 me too
How was she arrogant? I saw none of that
I would describe her as either nieve, entitled or financially inept. Housing prices are currently at (or near) their peak so within the next 12 months she will be underwater on the house. Any disruption in their income (or any type of significant life event) will cause their finances to quickly spiral out of control. Unfortunately many other people will be in this same situation as property values decline over the next few years.
31% of your take home pay isnt house broke at all , provided the pay is consistent every month
@@ladev91 Attitude. A know it all, already.
I live in this area with my family, over 30 years. A starter home is about $350k. She is skipping over a 450k home to buy a similar home but with land. Land is what costs here, not the house. She is not being honest. Not the type of person I want living in this community. People moving to this area have a similar mindset, so materialistic and needing to impress and show off. I am so ready to move out of this area. Family is what is keeping us here, for now.
Lemme guess, they're from California
@@solusgamer164 🤣
I'm next door in Western Mt. I feel your pain with the out if staters moving in.
Guys: "What's your take-home?"
Suzanne: laughs nervously.
The difference between a video with Dave and without is just huge, I've been thinking this for a number of months. I like the Co presenters when they are alongside Dave but make no mistake or doubt that Dave IS the Ramsey show.
The show will fail without Dave. The co hosts are acceptable for fill ins, but won't cut it on their own.
Totally agree. Dave has a way of just saying it.
It might be ok yet though. Dave had a lot of time to get to this point and most of the other personalities are young and/or newer to radio than Dave. They have time to get seasoned. 🤷🏼♀️
Yeah, I wonder what Dave sounded like back when. Like, probably less empathetic.
Your dream home is the one you “CAN AFFORD”, not the one you can’t. I hope this one works out for them .
Yep. In the province I live in that basically means no home. So I’m moving out of the province down the road
Love this quote
I know the area this lady's talking about; gorgeous area, lots of lakes, forests, and mountains, etc. Place is paradise, but it's also a retiree hub where you have to either have family established there or be coming in with a lot saved up just to get started. It's absolutely not a great place for a starter family just getting on their feet. If she'd talked about these numbers 10-20 years into her future it'd be one thing, but as it is now the Idaho Panhandle is going to run them dry. Get into something cheaper while you still can.
One thing they did mention that’s false is PMI. No PMI for a va loan. Funding fee, but if they have a 10% disability rating, that fee is completely waived. It’s not as terrible as they make it out to be making the VA loan sound as if it’s just a 0 down FHA loan.
THANK YOU for your comment!!! I can tell that the overwhelming majority of people leaving comments know nothing about veterans benefits which mean they didn’t serve our country🤦🏽♂️🤦🏽♂️🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
“If you’re in this thing, you may want to look into refinancing to a 15 year” while they can’t even cover the mortgage payments on a 30 year? Lol
Great Point!
Very true
They said increase income pretty clearly bro before the refinance part.
Dave would have muted this lady asap!
With a title like that, you know it's bad...
Yeah. . . .if she can ONLY get to the point. . .
What a dumb move!! These callers are hilarious
I’m in North Idaho and our county assessor has doubled the value of everything in order to increase the property taxes. It’s a BAD idea to be buying homes here right now.
Me: how are you ?
Lady: Well here is what happened this morning ............ and her life story continues.
It all started way back when I was just a wee little girl growing up on my grandparents farm in the rolling hills of Ireland…
This comment sent me laughing.. good one thanks
Right 🤣🤣🤣🤣 why I don't ask callers "how are you" never did.
Wow, just wow. This lady is living in a fantasy world. You need a job that makes money.
stop letting her ramble. Make her get to the point. She barely even let out what their income is because she didn't want to hear that they agreed to commit way more than they can afford. Her question of where to spend the discretionary spending is inapplicable since it's all going to minimum mortgage payments anyways. Dave's advice would have been "get out of the contract even if you can't get all of your deposit back".
I bet 100k wasn't even an accurate number, more like an optimistic projection. New business's starting out just don't make 100k.
Absolutely. How did they even get that loan approved?? Hope it’s not too expensive to get out. Otherwise she needs to get back to work.
That title is frightening. If Dave Ramsey show can't help who can!?
She did not get the response she was expecting 😂
She DOES NOT know their income.
$2500 is not correct.More like $3500 a month on 550k with zero down.
That was exactly my thought. I said that’s not bad, 2500 mortgage with 8k take home. But no way with nothing down it’s only that. Unless taxes are crazy cheap.
I also think that she lied about her net income. If they even earn $100k per year, I am sure that was gross. An even worst case is that her husband's business is one where the people pay him cash and they aren't setting aside money for taxes so she thinks that all of the money coming in is there's to play with and they will be in for a rude awakening when the tax man comes in April.
She may be going back to work just because of this dumb decision.
She knows this is bad, that’s why she’s calling a radio show.
Smart: getting out of debt
Dumb: pi$$ing it all away on a house/mortgage you can’t afford.
Omg my husband has a new business too and made 100k this past year and we are looking at a house worth $189k and freaking out lol
So 450k is trash home but only 100k more it’s a dream home ?
wow, they are buying 5x’s what they make. smh. forget helping the kids with college or having an full emergency fund.
Right 🤣
Stay at home mom moving into a half a million dollar house. Goodbye.
Those kids will need therapy for life
It’s a blessing that they could do it...those kids will have a beautiful home to
Make wonderful memories. Don’t be soo grumpy.
🤣🤣🤣 right
@@eckankar7756 🤣
@@dj912sent9 I guess you weren't listening to her
She is literally about to ruin her life, she just doesn't see it yet
She will soon very soon
There was nothing in their price range, so instead of saving money to get a better home they simply decide to just spend more money they do not have.
Oh my goodness… the price of the house is too high for their income😳
I’m wondering how they qualified for the loan
She's a dreamer!
My wife and I bought our home in a similar way. Nothing down, 30 fixed, no emergency fund, low income. We were soo house pour we couldn't afford a $100 push mower for two years. We never should have bought. They should ask the sellers how to back out of the deal or don't move in and relist immediately, a few thousand under what they paid. A small debt to remove the mill stone from your neck is a better solution to this problem. They're going to be drowning for years. Worst decision of their lives.
I just sold my mom's estate. In the state of Oregon the buyer can back out of the deal all the way up to signing closing documents with no reason other than they changed their minds. The seller cannot back out.
It doesn't matter that they have signed earnest money, signed approval of the selling price or anything else.
Suzanne's dream is going to quickly become a nightmare. Nothing they did was planned out before executing.
I really wish they would invite a knowledgeable, license loan officer on the panel as well. No VA loan has PMI (mortgage insurance). It absolutely makes no sense to do a 15 year on a VA Loan, especially since rates are the same on a 15/20/25/30 year terms for VA loans.
Thought of the same thing, doesn’t seem like they have a grasp on the rules and structure on a VA loan when they mentioned PMI.
Yes, that is the beauty of a VA backed loan. No down payment required. It's a Veteran benefit. Also, for anyone wondering, only one of you needs to be a Veteran, not both.
Wow she was painful to listen to. The decision making skills and justification of this purchase is just mind bogglingly asinine.
I had a friend who lived in the RIGHT neighborhood. But they were house poor for at least a decade. The house had very little furniture and she seldom had any money in her pocket.
They eventually sold it and moved to my middle class neighborhood.
Not even delivering some pizzas can save them.
Ha...hahaha...
Or just eating rice and beans lol
😂
No way that 500k home is $2500 a month even just principal and interest
Comment down below said closer to $3500.
Don’t forget taxes and insurance.
I don't know what is up with my generation that are now becoming parents, but they base all their life decisions based on their kid's wants.
I grew up in a household that was tight on money and I shared a bedroom with my brother and sister for a while, then it just was my brother. We didn't have a huge yard either. There are parks, and usually some open area somewhere where a lot of kids will play. We only had a basic four-door car and although it would have been nice to have a big nice SUV, it wasn't needed people it just seems like too many people now are basing huge financial decisions on Comfort creatures for their children. Then the parents start arguing about finances and that is way worse for the kids
It’s because she probably grew up without and wanted her kids to have what she couldn’t have
Nailed it, this is the problem, kids must go to a private school, they must have a big yard, they must have the best clothes etc etc
This is a horrible call / I feel sick for them. That’s wayyyyyyy wayyyyy too expensive for their income. My goodness. I sincerely hope they backed out. That’s a nightmare of house broke
My household income is more than $100k and we don't have nothing close to that mortgage. I don't know who approved them but they don't make enough for that house.
They can't afford to live there. Bottom line.
If you look at the area they are talking about they can they just need the nicest house with the biggest yeard and I bet with some very nice updates. They just are not thinking logically.
@@elizabetha8565 I don't disagree with you. 🙂 But I also kind of got the feeling that she wasn't being completely objective about their earnings...she kind of wavered in the beginning about her husband's business being "new"... Most of her behavior/words pointed to justifying poor choices.
“What’s your take home?”.
“Lolololol…”
550K for a house and no money down?
Stay at home mom? 100K net income? Stupid is as stupid does.
not to say one is better or worse, but this is a good example of how a woman can get more focused on emotion rather than strategic planning. She needed outside help badly, and i wish her the best.
Another person just had to have a house they cant afford. People do stupid things .
Why would you not save up for 20% down to help???
She took such a pause to say her take home pay..... 100% that was an inflated number, and she probably even added in what the business takes in before cost........
problem with people who do not work in the business - they only see the money coming in and not the expenses going out. I had the same problem with a girlfriend years ago. She once saw the accounts receivable sheet and couldn't understand why I didn't have new cars, a better house, etc etc etc. I ended up having to sit her down and show her ALL the books so she could understand. She never did.....we broke up a few months later. LOL
At 77 and like them, a vet, I've pretty much done it all. While I'm interested in the Ramsey team's thoughts, I can make my own judgement. And here it is--Losing the new job is the biggest risk I see. Otherwise I think the caller's doing everything in the best way possible. It's what I would do; in fact, looking back on it, it's what we did! And it worked out great!
So many people are going to regret their fomo decisions in the next 12-18 months. These people are nuts!!
Anybody else cringing every time John asks what her income is and she won't answer?
What is she thinking. ?? Half mil house on 80k take home ??
I bet you the 2500 doesn't include property taxes and insurance. 8k a month on 500k mortgage 😃😃😃😃😃
My jaw fell through the planet when I heard the monthly payment
With a 20% down payment 2.5k mortgage is like a 1mil house on a 30yr
Rent in North Idaho is $3000 a month for a house. $1800-$2500 for an apartment.
@@northwestmotoadventures999 Dont pick the best looking ones in the heart of the city then. I just checked and plenty of 2-3 bedrooms for 2k. Rent is the most you pay per month. Mortgage is the least you pay.
@@TheLivedeath The caller was talking about a house with property. 3k plus for acreage. I'm not looking for rental I'm selling my house and leaving North Idaho. The small towns have been overrun by the west coast states.
They're paying $300,000+ over 30 yrs
They should have pulled in judge Judy to substitute for this one
When people use the word "blessing" in one of their first sentences, I immediately assume they're morons. And when they have serious overuse of the word "so", as this caller did, I know they're about to lay out a complete shitstorm.
They’re trying to talk in Ramsey-ese so that they won’t jump down their throat
They had that anchor of debt cut from them, now they are barely trending water, and they want to buy another boat with a bigger anchor.
How is 100k a year barely treading water?
Got to love the "manage someone else's money" type wives. I can't wait for my taxpayer dollars to bail these subprime fools out.
Telling a story is art form... getting to point took so long.
Can't believe she was in the military. A higher rank would've shut her up a long time ago.
@@TheLivedeath she probably was a higher ranking officer lol
Is it just me or does a 550k loan on a 100k income seem super duper excessive?! Lol
Yes, My income around that ball park and I’m looking for 350k and still thinking I maybe buying house too big. BTW I’m single and no kid, and no debt
my GF and I pull 170k per year and purchased a 460k home with 50k down and we had to have a really long discussion about that. payment is about 2200 a month. so 1100 each person. i feel for this family, what a stupid decision, they are probably going to lose the home in the future, i don't think she was honest about their take home pay either.
I thought a $220K mortgage on $70K salary ess huge!
@@Jacob-qz5mu true, she wouldn't directly answer that question.
In some places you can’t really help it.
I live in North Idaho and let me tell you it is expensive
It wasn't until people like this started moving here
Suzanne is trying to justify their extreme high lifestyle wants! Come on in northern Idaho a $450k isn’t a starter home? Also every home is a fixer upper! I call B.S. on what she said.