Commercial vs Residential Loans?

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Residential Mortgage

Residential Loan

Commercial Loans

Commercial Loan

Commercial loans:
1. Require a higher down payment, typically 20%.
2. Have shorter terms, typically 5-20 years with a large chunk paid at the end.
3. Have higher interest rates.

So you typically have higher carrying costs(monthly payment) associated with a commercial loan, there’s more risk because you have a balloon payment at the end of the term – or you have to refinance, and you cannot refinance out if the rates go down without a prepayment penalty typically.

Qualifying for a commercial loan is different…it’s based on income potential of the property. While a residential loan is based on your gross income and debt.

Here are a couple articles:
Business Finance Commercial Residential
Commercial VS Residential Loan Terms

Just my thoughts. -Jenn

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WOULD YOU LIKE YOUR OFFICE NEXT DOOR TO YOUR HOME?

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Conant House c1782 Milford, NH


    I started a special blog for a special house.  A beautiful antique colonial located at 354 Nashua Rd in Milford, NH.  This is a mixed use property…it’s zoned Residential but Milford has a special overlay district called the “Nashua and Elm St. Corridor Overlay District.”   A perfect situation if you always wanted to be located close to your office, but still keep it separate.

     Currently it’s a medical clinic, prior- a vet, and before that it was an inn.  The living area is completely separate from the office space.  It includes a waiting room, reception office, kitchenette, 3 offices, and a conference room on 2nd floor.

I’ll be adding photos in the next couple weeks, just had a huge estate sale and the place needs to be put back together!


Blog:
The Conant House c1782 Milford, NH

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The Conant House c1782 354 Nashua St, Milford, NH 03055

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