This is the Ramsey Call of the Day, part of the Ramsey Network.

Our question of the day comes from Jacob and the Ramsey Baby Steps Millionaires group on Facebook.

He says this. He says, I'm 20 years old and I'm looking to buy a house within six months to a year.

Besides having 20% down, what other tips would you recommend for a first-time home buyer?

Also, is there anything that I need to look out for?

Yeah, I would say there's a couple of things to keep in mind.

I think it's great that you're putting 20% down.

We would say to do a deal where your

payment is no more than 25% of your take home, and that's taxes, insurance, all included in a

conventional loan. And I love that you're putting 20% down because then you can avoid PMI,

which is private mortgage insurance, and it's just an additional cost there. But with 20%

down, you can avoid that. But I feel like you're in pretty good shape. I mean, other than that,

it sounds pretty good to me. Yeah, a couple of things. Good idea. Good question, by the way.

15-year fixed rate, 25% of your take-home pay. Always, everyone, anytime you buy a piece of real estate, get title insurance, 100% of the time.

Anytime you're buying a piece of property that is not a traditional subdivision lot,

meaning it's very, very predictable.

Always get a survey.

So if you, you know, I bought three acres.

It turned out to be 1.75.

No, that, yeah, no, we, we, you get a survey on it.

Okay.

Now, you got a standard subdivision lot that is pre-platted and has changed hands three or four times.

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