I learned in Dave Ramseys FPU to not borrow. Period. That is what Dave teaches. Not a bad thing really because most Americans borrow to extremes and are in major debt.
Turns out, Gods word says that some use of credit is fine. But it comes with a few rules.
1. Credit/borrowing should never be normal for Gods people (that is, don’t over do it).
2. Credit/borrowing should never be long term. (I would think this rules out the 30 year mortgage. Why not go 15 years?)
3. Never sign surety. that is, borrowing money without a certain way of paying back the debt. If you can’t collateralize a loan, don’t borrow.
Debt is not a sin. But God clearly discourages debt in the scriptures.