Dave Ramsey Just Dropped a Bombshell That Could Change How You Buy a Home Forever
- The finance guru is now recommending a 10% down payment instead of his classic 20% rule, arguing that rising home prices and rents make waiting impractical for most young families.
- He made the announcement during a live Q&A after a caller confessed they were saving for two years and still couldn't afford a median-priced home, calling the current market "crazy town."
- Ramsey stressed you must still avoid PMI through a lender-paid option or a second mortgage, warning that a conventional 5% down loan with insurance is still "stupid tax."
- The shift has sparked fierce debate online, with traditionalists accusing him of caving to the Fed's inflation-era housing bubble while fans say he's finally being realistic.
- He also doubled down on his "15-year fixed rate" rule, insisting that stretching to a 30-year mortgage is financial suicide even if you put less cash down upfront.