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Money Habits Are Changing Across the U.S.

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With changes in the economic and social environment, we have seen a shift toward budgeting and saving money. It is important to be financially responsible when times are tough while still working toward long-term financial goals and improving overall money habits.

Both Dave Ramsey and Churchill Mortgage CEO and president, Mike Hardwick, understand what it is like when times are tough. In fact, both businesses were built upon the groundwork of short- and long-term financial goals. Both companies joined forces nearly 30 years ago to help provide financial confidence during the home buying and refinancing process. This allows you to skip the stress of wondering how much house you can afford, how to get on the smarter mortgage plan, ways to pay off your home faster, and when refinancing makes sense.

The Connection Between Churchill Mortgage and Dave Ramsey

Churchill Mortgage and Dave Ramsey are closely aligned through shared principles and core values. Our two teams work together to help Americans buy homes the smart way and ultimately become debt-free. Churchill is the only lender that does that, and therefore, the only lender that Dave Ramsey talks about on his show

This connection between the two companies dates back before Churchill Mortgage and Dave Ramsey were even in business! Mike Hardwick grew up near Ramsey and his family. Both Hardwick and Ramsey speak fondly of their childhood in Nashville, TN. As they grew older, they became friends through their church (which Mike’s father founded). It was this foundation that helped them lean on one another when the business world got tough in the mid-1980s.

By the early 1990’s Hardwick, with his banking and financial background, decided he wanted to open a mortgage company. But this mortgage company was going to be different (not your run-of-the-mill lender). And Ramsey shared his idea to start a radio show which focused on helping people avoid debt and getting out of debt altogether. He wanted people could learn from his mistakes. Soon thereafter, both were in business and Churchill Mortgage became Ramsey’s first radio sponsor.

Today, both Churchill Mortgage and Dave Ramsey focus on helping others better their own financial situations. We realize it sounds counterintuitive for a mortgage company to talk about the importance of owning your home free and clear, but we truly believe in debt-free homeownership.

“When I started Churchill Mortgage, I made a promise to myself that I wasn’t going to borrow one dollar to grow the business. To this day, 28 years later, Churchill Mortgage has never borrowed a dollar to operate,” explained Mike Hardwick.

Churchill’s approach to lending helps clients look at various financial goals; one of those being to help everyday people become debt-free homeowners. “We never want clients to overlook the long-term financial implications of getting into a mortgage,” explained Matt Clarke, Chief Operating Officer at Churchill Mortgage. “We really are serious about Dave Ramsey’s financial guidance and want our clients to achieve financial peace.

What Dave Ramsey Recommends

Put simply, a mortgage should not break your budget.

  • 3-6 months emergency fund
  • Monthly payment of no more than 25% of your take-home pay
  • 15-year fixed-rate mortgage to help you save thousands in interest
  • Down payment of 20% to avoid Private Mortgage Insurance (PMI). If you have not saved 20% after a few years of intense saving, you may consider lowering your goal to 15% or even 10%.

Reimaging the American Dream

At Churchill, we have found that debt-free homeownership is a popular goal for many of our customers. It is a goal we feel is attainable and one that we encourage. Our local Home Loan Specialists do their best to assist in the journey toward getting a smarter mortgage and eventually becoming completely debt-free and achieving the real American dream.

We start the process by showing you the true cost (and savings) of each loan option and will guide you to make the best decision based on your budget and financial goals. We also will show you where you would be in five, 10, and 15 years with debt-free homeownership in mind. It is an easier process than you might think, and this helps you see the light at the end of the tunnel!

If owning your home sounds like a lofty goal, it is worth sitting down and crunching the numbers to see what being a debt-free homeowner would look like for you and your situation. Reach out to us and we can answer all your questions whether you are a Dave Ramsey fan or just learning more!

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