Lorraine Kuney - Franklin, MA, Real Estate, Medway, MA Real Estate.



75 Pilgrim Rd, Mansfield, MA 02048

Single-Family

$559,000
Price

10
Rooms
4
Beds
2/1
Full/Half Baths
The Wait is Over! A Wonderful Colonial in Sought After East Mansfield Neighborhood is Here For You! Awesome Open Floor Plan with Nice Sized Family Room & Dining Room Open To Kitchen Has an Oversized Eating Area w/Beautiful Bay Window, Stainless Appliances, Island & Pantry. Fireplaced Living Room Would Make a Great First Floor Office! Fantastic Mudroom With Tile, Second Entry, Half Bath & Laundry. Hardwood Floors Thru out First Floor & Second Floor Hallway. Generous Master w/Walk In Closet. Master Bath W/Extra Counter/Makeup Area. Three Additional Good Size Bedrooms! An Awesome Finished Basement With Full Windows for Natural Light. A Second Room for Guests or Exercise. Office Nook/Work Area Too! New Windows and Siding, New Heating and A/C. Large 2 Car Garage. Great Neighborhood With Cul De Sac. Minutes to Town Center, Schools and Commuter Rail. Enjoy Everything Mansfield Has to Offer, Don't Wait! Open House Sunday 1:30-3
Open House
No scheduled Open Houses

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1011 Franklin Crossing Road, Franklin, MA 02038

Rental

$1,400
Price

5
Rooms
2
Beds
1
Baths
Well Maintained 3rd floor unit clean, light and Bright available July 1st. Located at the rear of the building, a nice private setting to enjoy the nice weather from your balconey. Great commuter location. With a tennis court, playground and pool for your use. NO Pets & NO Smoking. Landlord requires good credit and references.
Open House
No scheduled Open Houses

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16 Steven Dr, Sutton, MA 01590

Single-Family

$614,900
Price

9
Rooms
4
Beds
2/1
Full/Half Baths
Fantastic Location!! A Gorgeous Private Setting for This Beautiful Colonial only Minutes to Rt 146 & Mass Pike. Nestled on 3.5 Acres, A Stunning Home That Offers a Fantastic Open Floor Plan w/ Sparkling Hardwoods Through Almost The Entire House! Dramatic 2 Story Foyer W/ Split Double Staircase! The Open Kitchen Comes w/ Tons of Cabinetry, Large Island, Stainless Appliances, Wall Ovens, Granite Counters, Large Eating Area and Pantry. An Entertaining Formal DR. This Flexible Plan Also Has Two extra Rooms on 1st Floor for Either a LR & Office/Den or Two Offices, or 1st Floor Guest Space! Bonus Mud Room off Garage Entry. Upstairs You Will Find a Luxurious Master Suite w/ Hardwoods & a Huge Private bath, Walk in Closet/Dressing Area. Three Good Size Bedrooms, 2nd & 3rd Bedrooms w/ Hardwoods, 4th Bedroom has Carpet. A Beautiful Updated Family Bath and Separate Second Floor Laundry Room. Endless Possibilities in the Full Un-Finished Walk Out Basement! A Tranquil Oasis Yet Close to Everything
Open House
Saturday
June 22 at 11:30 AM to 1:00 PM
Cannot make the Open Houses?
Location: 16 Steven Dr, Sutton, MA 01590    Get Directions

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169 Maple St, Franklin, MA 02038

Single-Family

$414,000
Price

7
Rooms
3
Beds
2/1
Full/Half Baths
Perfect for Collectors, Contractors, Hobby, Parties or Work from Home! This Solid and Well Maintained Character Filled Colonial Home on Lovely Country Road Comes With a Separate 1100 Sf Heated & Finished Building w/ Large Open Room, 2nd Smaller Room, Half Bath &Huge Walk Up Attic for Storage! The Main Home Needs Updates But is in Great Condition. Nice Sized Kitchen, Beautiful Wood Floors Thru out. Nice Sized Living Room & Dining Room. A Pretty Sunroom w/French Doors. Master Bedroom on Main Level w/Full bath. Upstairs 2 Bedrooms and Another Full Bath. Includes all Kitchen Appliances and Washer Dryer. Newer Septic, New Boiler, New Plumbing and New Electric. Roof about 15yrs old. Vinyl Sided. Beautiful Large Lot with 2 Car Detached Garage. Extra Parking! Come See The Possibilities Here! Showings start Sunday Open House 1130-1
Open House
Sunday
June 23 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 169 Maple St, Franklin, MA 02038    Get Directions

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In real estate terminology, you may hear about various ratios and where you need to fall within the ratio to qualify for the home you want. A ratio simply expresses a relationship between two values: they compare two things, so a student/teacher ratio might be shown as 18:1, or one teacher for every 18 students. Different ratios apply to residential home buyers, investors, sellers, and lenders, but here are a few that might apply to you.

Loan-to-value or LTV

A comparison between the amount of a mortgage loan and either the home’s purchase price (for new buyers) or its appraised value (in a refinance) is its loan-to-value ratio. Lower LTVs typically qualify a buyer or homeowner a lower interest rate because there is less risk of default to the lender. So, a conforming mortgage with 20 percent down often garners a lower rate than an FHA loan with only five percent down.

Higher LTVs place more risk on the lender so if the market drops, the home could be “upside-down” or worth less than the amount of the mortgage.

Debt-to-income ratio or DTI

More important to home buyers is the debt-to-income ratio. Also called a debt-service ratio, it expresses how much money the borrower makes monthly compared to the monthly ongoing debt payments and obligations. A lender uses this figure to determine how high a mortgage payment you can handle. The first number is your income (gross) from your job, plus any other income that can be counted such as child support or a trust disbursement that you can use to make your mortgage payment plus taxes and insurance, and if applicable, association dues.

The second number uses the same calculation as the first plus any long-term debt such as a vehicle or school loan and consumer debt. This amount is the percentage of your income used to pay housing and long-term debt. So, a ratio of 30:37 (also written 30/37) means you spend 30 percent of all your income on housing with no more than seven percent obligated to debt service. That leaves you with 63 percent of your income for food, auto insurance, medical bills, clothing, and other expenses. Qualifying ratios adjust over time, but the Federal Housing Administration lists the qualifying ratio and the formula to determine it to qualify for an FHA loan.

Price-to-income ratio

Your DTI comes from your personal debts and income, and the LTV comes from a specific home's value, but the price-to-income ratio expresses the affordability of housing in a given locale. Most often, it is the ratio of the median home price to the median household disposable income. This ratio helps you determine if the home you want to buy is overpriced (it will be hard to sell) or under-priced (super good deal) for its geographical location. Lenders use this ratio as one additional factor in determining risk for that specific home.

To learn where your ratios fall and to determine if an area is right for your household budget, let your local real estate professional guide you.




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