The St. Martin Team - Westford MA Real Estate
Westford Massachusetts | 978-935-9500 | Info@StMartinTeam.com



Posted by St. Martin Team on 6/22/2020

This Condo in Westford, MA recently sold for $475,000. This Townhouse style home was sold by St. Martin Team - LAER Realty Partners.


144 Westview Drive, Westford, MA 01886

Condo

$475,000
Price
$475,000
Sale Price

7
Rooms
2
Beds
3/1
Full/Half Baths
This spacious Monadnock model end unit offers over 2,900 square feet and four levels of living space. On the main level, you will find hardwood floors throughout, freshly painted kitchen, living room and foyer. The kitchen features granite counters, white cabinets, stainless steel appliances and pantry, the formal dining room is spacious with sliders leading to private exterior deck, a formal living room with gas log fireplace, and a remodeled sun room with wooded views. The second floor master suite has its own private deck, a cozy gas fireplace, a walk-in closet, a remodeled bath with double vanity, jetted tub and separate tiled shower stall. The second bedroom with its own full bath. The loft overlooks both bedrooms, great for a reading nook or office space. The laundry room is on the second floor. The walk-out lower level is nicely appointed with a large finished room, full bath and storage closet. 2 car garage. New HVAC ~2015, tankless hot water 2016, new roof 2016.

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Tags: Westford   Real Estate   01886   Condo  
Categories: Sold Homes  


Posted by St. Martin Team on 6/18/2020

 Photo by Alexander Zvir from Pexels

Those who currently own a home may consider investing in a second home for income purposes. However, it is important to understand you may have hurdles to overcome when searching for a mortgage or obtaining homeowners insurance. Here are some of the most significant differences between buying an investment property and a primary residence.

Obtaining a Mortgage

In nearly all cases, mortgage rates for investment properties are higher than when you buy a primary residence. The reason for this is that lenders tend to view an investment property as a riskier loan than a loan provided for an owner-occupied property. Lenders may also impose more stringent requirements on debt-to-income ratios and credit scoring.

The news is not all bad because while a lender may have stricter debt-to-income requirements, a portion of your anticipated rental income may help offset the change.  Not all lenders will include potential rental income, but it is worth asking about. If your mortgage lender is willing to use the rental you expect to collect as part of your income it is likely they will use a percentage of the rent, less potential repair costs, and vacancy costs.

Down Payment Requirements

Typically, if you are purchasing an investment property, the lender will require you to make a larger down payment. In many cases, you may be required to put down as much as 25 percent of the purchase price. The good news is that unlike with the purchase of a primary residence, you may be able to borrow the down payment. However, this will have an impact on your debt to income ratio because you will be paying another loan.

Greater Reserve Requirements

Your mortgage lender may have a reserve requirement when you purchase a primary residence. Reserves are generally to ensure you have an emergency fund for things like unexpected repairs. When you seek financing for an investment property your mortgage lender may require you to have a larger reserve in case your rental income decreases unexpectedly.

Potential Tax Consequences

If you are considering an investment property, you should also understand there are certain tax benefits and drawbacks. Unlike a primary residence, you will have to claim the income generated from the property. You may also get some important tax breaks so it is a good idea to talk to a tax specialist about tax issues you may face.

If you are considering investment property as a means of generating additional income and building future equity, make sure you understand the hurdles you may face. Your real estate agent can help you learn the rental history of the property, neighborhood details, and other information you should know before making this important decision.




Tags: buyer tips   investing   homeowner  
Categories: Uncategorized  


Posted by St. Martin Team on 6/12/2020


8-10 Rockland Street, Newton, MA 02458

Multi-Family

$989,000
Price

2
Units
2,322
Approx. GLA
Opportunity knocks for you to own this spacious two-unit home a in prime Newton location close to public transportation (express route to downtown Boston), highways, schools, shops and restaurants. This owner-occupied home is bright and sunny and features newly refinished hardwood floors both units, built-ins, spacious rooms, fully applianced, plentiful storage, laundry for both units, nice lot and a 2 car garage. First floor has a small foyer, living and dining rooms, new stainless-steel appliances in the eat-in kitchen and pantry. Two generously sized and freshly painted bedrooms and a full bathroom. The 2nd floor unit features the living and dining rooms, eat-in kitchen with new dishwasher, pantry, a private porch, 3 large bedrooms, a full bathroom and walk up attic for storage. All separate utilities. Easy to show and available now! You must make appointment and follow Covid-19 guidelines.
Open House
Sunday
June 14 at 11:00 AM to 12:30 PM
Cannot make the Open Houses?
Location: 8-10 Rockland Street, Newton, MA 02458    Get Directions

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Categories: Open House  


Posted by St. Martin Team on 6/11/2020

One of the most critical aspects of your financial state, when you’re buying a home, is that of your credit score. Credit scores take your entire economic history into account. That means every missed payment, every account opened, and that three-digit number represents every debt you owe. Once you obtain your credit score and assess your finances, if you realize your score needs help, you may feel desperate. The good news is that you’re not helpless. There are plenty of things that you can do to raise your credit score in a short time to increase your chances of getting a better rate on a loan for your home purchase. Read on for some tips on how to improve your credit score.



Keep An Eye On Your Credit Card Balances


One of the most impactful factors on your credit score is how much debt you have. How much debt you have versus how much available credit you have is a significant factor in your score. If you pay your balances in full each month, that’s great. Keep in mind that even if you do pay off your balances that monthly balance amount affects your score as well. Paying off your outstanding credit card balances will have a positive effect on your score.


Remember Some Debt History Is Good


Once you pay off a car or home loan, it can be tempting to want these accounts removed from your credit history. When you’re getting a home loan, the lender wants to know that you’re reliable. If you can show that you have responsibly paid off other loans that can only be a positive thing for you and your credit score. Don’t be so quick to remove old accounts that have been paid off from your report. 


Pay On Time


If you pay your bills on time continuously, it can only bring your score up. If our rating needs help, this could be the most critical thing that you can do to raise your score.


Keep Your Payments Equal Over Time


Keeping your payments equal means that you shouldn’t start charging more than you usually would. You also shouldn’t begin to make lower payments than you have been. Keeping your spending and payments consistent can help you to raise and maintain a good credit score.


If you know you’ll be purchasing a home soon; you should check your credit score. If you’re not close to heading out on the home search, you can pull back a bit. While you always want to maintain good credit health, you shouldn’t be so focused on your credit score that you forget about other things like saving for a downpayment. Know that your credit score is essential in buying a home, but understand that there are many moving parts when it comes to buying a home. 





Tags: credit score  
Categories: Uncategorized  


Posted by St. Martin Team on 6/10/2020


120 Dunstable Road, Westford, MA 01886

Single-Family

$450,000
Price

9
Rooms
3
Beds
1/1
Full/Half Baths
This wonderful antique colonial home has a bonus parcel across the street with 321' OF WATER FRONTAGE ON LONG SOUGHT FOR POND! Gather, cook and enjoy the sunny country kitchen updated with granite counters, newer cabinets, appliances and hardwood flooring. You'll love curling up in the heated porch with pretty water views. Versatile layout to fit your needs...cozy living room, formal dining room and office complete the first floor. Upstairs you will find the master has waterviews, 2 more bedrooms, sitting room and a half bath. on the second floor. First floor laundry, the bathroom has new flooring and fresh paint.. Detached boathouse/garage with small dock. Quick close possible for you to start enjoying summer in your new home.
Open House
Sunday
June 14 at 11:30 AM to 12:30 PM
Cannot make the Open Houses?
Location: 120 Dunstable Road, Westford, MA 01886    Get Directions

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Categories: Open House  




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