Joyce Cucchiara's Blog
Fireplaces can serve as a focal point in a room, provide a source of heat and add to the comfort of your home. They can also help you to save on energy costs. There’s so many different kinds of fireplaces that you can either install or find in a home. If you’re shopping for a home, you may want a home with a built-in fireplace. You don’t necessarily need one to get all of the benefits that a fireplace can provide. There’s different types of fireplaces that are made to suit the many different needs of homeowners. Here, we’ll show you some different kinds of fireplaces along with their pros and cons.
The most commonly thought of fireplace is the wood-burning fireplace. This will be built-in to your home, or you can install them in your home to use as a heat source. You may even install a wood stove in the upstairs part of your home and another in the downstairs in order to keep an even heat throughout the home. In some homes, however, just one wood stove is enough to heat the entire house!
This type of fireplace requires maintaining from time-to-time including cleaning the chimney. You’ll also need to clean out ash from the inside of the fireplace. The material that’s being burned- wood, needs to be stored somewhere. Rain and inclement weather can cause a problem, as you’ll need to dry the wood some before it can be burned effectively. You’ll need a screen to protect you and your family from the ash and embers that may be blown around form the inside of the fireplace while it’s burning wood. These fireplaces are advantageous for a classic look and feel but can often be a pain to clean.
If your home is fitted with a gas fireplace, you’re lucky because these types of fireplaces are cleaner and provide a more even heat source. Gas fireplaces, true to their name, burn gas instead of wood. A vented gas fireplace will look very similar to that of a wood- burning fireplace. There is a firebox present in the chimney that allows for ventilation with these types of heating sources. You can use a variety of things to give the appearance that you are “burning” them in a gas fireplace. This includes beads that will bring flames up and ceramic logs that appear just like the logs that would be present in a wood-burning fireplace. You can even easily convert a gas burning fireplace to a wood burning one. This is, if you seem miss cleaning up all of the ash that they create!
Direct Vent Fireplaces
These fireplaces don’t require a chimney. They draw in outside air and feed off a gas line that’s attached through the wall. The flame of these fireplaces is secured behind a piece of glass. The big advantage to these kinds of fireplaces is that they emit a large amount of heat and don’t lose much heat in the process, since there’s no chimney to lose air through.
If you choose, there’s a variety of options that you have in getting a fireplace that doesn’t actually create a flame at all. These fireplaces are typically run on electricity and give the same effect of a fireplace but are much easier to install anywhere in your home. Consider these if you really would like a fireplace without the hassle!
6 Standish Road, Lynnfield, MA 01940
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 you’re 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 you’re 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 it’s important to you.
How It’s Calculated
You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if you’re 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
1400/4000= 0.35 x 100= 35%
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.
What’s A Good Debt-To-Income Ratio?
It’s ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. It’s great to be debt free, but in the real world, that’s 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.
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