Millennium Realty



Posted by Millennium Realty on 2/6/2020

You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when youíre buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 


What Is A Debt-To-Income Ratio?


This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if youíre living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  


If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so itís important to you. 


How Itís Calculated


You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if youíre up for doing some math yourself:


Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:


Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 


1400/4000= 0.35 x 100= 35%


Household Ratio


You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    



Whatís A Good Debt-To-Income Ratio?


Itís ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. Itís great to be debt free, but in the real world, thatís not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.  

    






Posted by Millennium Realty on 1/30/2020

When you have a small yard, you may feel like thereís not much you can do with your landscaping scheme. The good news is that there is plenty that you can do to perk up your yard and give it some character. Read on for tips for your small yard. 


A Yard With A View


First, you should create a focal point in your yard. You want a place that your eyes are drawn to each time you enter your yard. This focal point could be a fountain, a pergola, a tree, or even some outdoor artwork.


Create An Intimate Spot


Even though your backyard might be small, having a spot for intimate conversation and entertaining can be a nice touch to your yard. When there is a space that exists for reading, relaxing, eating, or whatever you like to do outside, it becomes more inviting. This is landscaping with a purpose.   



Use Color To Your Advantage


Make bold colors pop in your yard. Attention will be detracted from the size of your yard and the focus will switch to the beautiful blends and colors that are in the space. Placing bright colors strategically will even make your yard appear larger. 



Trick Imagery


By creating a focal point and allowing your yard to form in long, clean lines, the perspective of the outdoor space will change from small to just right. One trick is to use fences to define your yard. If you have a garden, you can use a small fence to define this area. Define the boundaries of your backyard with a fence as well. Repeating rows of flowers or bushes is another way to create those straight, defining lines. 


Use Vertical Features


When space is limited, just as you would in the inside of your house, donít be afraid to go up! You can plant things that grow on a vine and can be tamed with a trellis or pergola. This creates and elegant effect in your home. 


No Lawn No Problem


If your yard is small enough that you may not even have much grass, donít fret. Any kind of greenery can help you to enjoy nature. Whether you live in a rural area or a large cityscape, thereís always room for plant life and green natural accents.      


Donít Forget To Add What You Love


If you have an admiration for sitting by the fire, you certainly should install a fire pit. If you want a fountain, you should install it. No matter what the size of your yard, itís a place that you love and should serve you and your needs. No yard is too small for enjoyment. The key is that your outdoor space allows you to bask in the glory of your own little piece of natural heaven.    


 





Categories: Uncategorized  


Posted by Millennium Realty on 1/23/2020

When itís time to buy a new home, youíll hear a lot about the importance of location. How can you choose a place? Whether youíre moving around the corner or across the country, there are a few essential things that you should know in order to select the best place for you to live. Read on for some questions that you should ask yourself when trying to find a good fit for a  location to live. 


What Should Be Close?


Thereís more to a home than what schools are nearby or how close you are to work. While these things are essential, youíll need to understand more about our lifestyle to find an excellent location. Youíll have to look at your life and your familyís life on a day-to-day and weekly basis. What types of activities do you enjoy? How close do you want to be to a grocery store, a gym, or a shopping center? How close do you want to live to the city? The mountains? The beach? Does your family enjoy outdoor recreation like hiking or walking through the park? Making sure that the things that are important to you and your family are accessible will be a big part of choosing a location to move.


How Walkable Is The Neighborhood?


If your kids will be walking t school, or you enjoy daily strolls with the family dog, the walkability of a neighborhood is important. Many places allow you to walk everywhere right out your front door to the grocery store or the hair salon without ever setting foot in a car. You may even want to be able to walk to a bus or subway in order to get to work each day. Walkability is an important aspect to consider when looking at home locations. 


Who Lives Nearby?


You may want to consider who lives nearby when looking at different neighborhoods to move. If you wish to live near family or know some good friends who live close, this could be a good starting point for finding the right location to live. Itís always easier to make the transition to a new area when you know a few people.


How Quiet Is Too Quiet?


Some people love peace and quiet. Other people need a lively environment that allows them to access the hustle and bustle any time they choose. Knowing your want for peace is a big lifestyle choice and a large part of selecting a location to live in. The closer you move to a big city, the easier your access to the more exciting side of life will be. The further away you live from the city, the more likely you are to have more quiet.      




Categories: Uncategorized  


Posted by Millennium Realty on 1/21/2020

This Condo in Uxbridge, MA recently sold for $144,200. This Mid-Rise style home was sold by - Millennium Realty.


91 Elm St, Uxbridge, MA 01569

Condo

$146,900
Price
$144,200
Sale Price

4
Rooms
2
Beds
1
Baths
Second chance for a lucky buyer. Why would you rent? Upgraded apartment style condo is ready for occupancy. The 2 spacious bedrooms will fit any size bed. Freshly refinished hardwood floors in living room and bedrooms. New vinyl flooring in kitchen and tile in bath. Fresh and clean. This very sunny walk up unit is on 3rd floor corner. 2 parking spaces included. Low Condo fees 325.47 include heat and hot water, water and sewer, maintenance and trash collection. What are you waiting for? Get prequalified today to see how you can pay less than you are paying for rent!

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Tags: Real Estate   Condo   Uxbridge   01569  
Categories: Sold Homes  


Posted by Millennium Realty on 1/16/2020

This Condo in Hopedale, MA recently sold for $250,000. This Townhouse style home was sold by - Millennium Realty.


53 Bancroft Park, Hopedale, MA 01747

Condo

$250,000
Price
$250,000
Sale Price

6
Rooms
3
Beds
1
Baths
LOCATION and VALUE. Less than one mile from all Hopedale Public schools. Less than 1/2 mile from Hopedale park, and less than 1/4 mile from Draper Field. Best value in Hopedale. No condo Fees! 1/2 Duplex home on a tree-lined, residential street. The other unit was recently updated, and owner-occupied. 1700 Square feet PLUS ready-to-finish third floor and 3-season porch. Tiled entry, custom eat-in kitchen and full dining room. Hardwood floors throughout, ceiling fans, three large bedrooms. Hook up for wood stove on those chilly New England evenings. Blown-in insulation in walls and attic. Rear-entry mudroom provides access to large fenced-in yard for private parties and childrenís play area. Room to add a half-bath on the first floor. Forced hot air. Laundry and wet sink in full basement, storage shelves and work benches in basement. Custom brick driveway, New hot water heater ,Roof done in 2019.

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Tags: Hopedale   Real Estate   Condo   01747  
Categories: Sold Homes  




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