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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17 Lamson Dr in Merrimack, NH for Sale

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OPEN HOUSE ON SUNDAY, MAY 22

FROM 11 AM-1 PM

StoneWallStepsSMALLRemodeled raised ranch in south Merrimack, close to everything!  New kitchen with granite counter-tops opens up to the living room with large picture window.  All the wood floors: in living, hallway, and bedrooms have been refinished.  The bath was expanded and updated as well.  As you walk outside onto the new multi-tiered deck, you can see the multi-tiered gardens, planting bed around the rock outcroppings, a fire-pit, plum and sweet cherry trees.  A large finished family room and den finish off the basement that leads to the extra deep 1-car garage.

Click for listing details MLS4491106

Please email me for more details:

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Click for larger image:WassermanParkGIS

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9 Putnam St in Wilton, NH

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9PutnamFrontAdorable New Englander style home a short walk to Frog Pond conservation, school, and downtown Wilton. Remodeled kitchen with granite counters and hickory cabinets; living room with large bay window, second-floor laundry, newly finished room on second floor could be a home office or small additional bedroom. Detached garage with power. Open front porch for easy conversations with neighbors, or dine out on the cozy screened porch that overlooks the private backyard.

Source, click for listing details: http://neren.paragonrels.com/publink/default.aspx?GUID=b6c638a4-4e90-46f4-b80f-7aa94be81397&Report=Yes

Contact me for more information:

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190 Baboosic Lake Rd in Merrimack, NH

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Slideshow Video of 190 Baboosic Lake Rd. in Merrimack NH

The Barron House c1771

190 Baboosic Lake RdPreserved antique Colonial with heavy timber framing, wide-plank pine floors and wainscoting, 5 fireplaces, period trim, Moses Eaton stencils, and perennial gardens make this a very special place!  The home has a rich history dating back to pre-revolutionary times documented in the “History of Merrimack, NH, Volume I.”

The formal living and dining rooms flank the front staircase.  The keeping room runs the length of the house, a grand fireplace with beehive oven. Heading towards the back you have the large kitchen, half bath, laundry, and then you enter the large mudroom/library to access the 2-car attached garage.

Over the barn there’s a finished living room, kitchen, bedroom, and bath with separate electrical and natural gas furnace. A two-car garage with generator hook-up, walk up attic with more wide plank flooring.  The fieldstone foundation has a concrete floor, 200 amp service, chestnut beams, and many secrets.

MLS 4477896: Click for an Interactive Listing Sheet
D
on’t forget to like my Facebook Page: http://www.facebook.com/topnhhomes

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New Hampshire’s Real Estate Cycle- Up Markets

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TOP TOWNS LAST IN...FIRST OUT

Real Estate in NH Increasing

During the decline of the last real estate cycle I wrote a post about how different towns function in the cycle.  I.E. top towns are the big indicators when the market will start to stabilize after a decline: Top Towns in a Declining Market

Right now we are in a completely different market, but the point remains the same.  Top towns LEAD the UP-cycle, they are a good indicator when prices start to rise. So it’s “First Out” of a declining real estate market.  There are still New Hampshire towns struggling, but most are stable, if not slightly increasing.

Just my thoughts. -Jenn

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Happy General John Stark Day– “Live Free or Die”

BenningtonMonument

Battle of Bennington Monument

I started watching historical shows about the American Revolutionary War.  I reason it’s because I’m from New England, not because I’m getting to be that age when one starts watching the History Channel.

The commercials for the “Sons of Liberty’ miniseries really drew me in.   I even started watching the John Adams series on HBO.  Great story, and to think it was true!

Well the 4rth Monday of April is known as General John Stark Day in New Hampshire, it falls on April 27th this year.  Since 2011 this little known state holiday has been celebrated in New Hampshire.  I only bring this up because 2 key battles referenced in the miniseries are the Battle of Bunker Hill, and the Battle of Bennington.   Key battles of the Revolutionary War, and General Stark was instrumental in both.    One of his most famous quotes, and NH’s state motto: “Live Free or Die” is a stark reminder of the conviction and determination that our forefathers bore to bring forth a republic.MonumentWithAViewcrop2

JennPictureTaking

I just gotta get that shot!

I have yet to visit the Bunker Hill Monument, interestingly enough my birth name is Bunker(one day I’ll figure out if there’s a relationship).  The Battle of Bennington Monument was an accidental find.  On one of my mother/daughter weekends I did my usual, “let’s see what’s down this road.”  I go off the planned route and go back roads a lot and only Mom tolerates it.  She loves it when I stop on a dime to jump out and take a picture.

-Just my thoughts.
Jenn

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What is “HOME”?

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home  noun: the place where one lives permanently, especially as a member of a family or household.

HOME: noun, the place where one lives permanently, especially as a member of a family or household.

A prior post I wrote: “The End of the Hometown” focuses on where you would consider your hometown: your birthplace or the town you settled in.  I stumbled upon this #TEDtalk titled “Where is home?” by Pico Iyer which twists and turns as it moves around the subject of what is home.

The definition of home implies permanence, but in today’s mobile society it’s no longer that simple.

“home is not just the place where you happen to be born, it’s the place where you become yourself” -Pico Iyer

I deal with homes in the brick and mortar sense, I see the attachment people have to a location and how people perceive what is home.

-Just my thoughts.
Jenn

 

 

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Do you prefer a walkable mixed-use or big lot suburban community?

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The 2013 community preferences survey from the National Association of Realtors is an analysis on the types of communities people prefer to live in.  On one hand compact, walkable communities continue to have leaps in demand, but detached houses with large yards and lots of privacy are still tops.  You can read all about it in this 51 page slide show: http://www.realtor.org/sites/default/files/reports/2013/2013-community-preference-analysis-slides.pdf

WalkablecommunitiesSplitpieOne of the things I was surprised to see is the breakdown between a walkable, mixed-use community and a conventional suburban one to be very balanced.

Anyway, you should check out the slideshow…good stuff.

-Just my thoughts.

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New Hampshire 2014 Property Tax Rates

I just updated my webpage at www.TopNHhomes.com with the current list of NH property tax rates: http://topnhhomes.com/nh-tax-ratesNH Tax Time

Why your assessed value is not usually your market vale and what is an equalization ratio explained.

Please take a look.

Jenn

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The End of the Hometown

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When asked where’s your hometown, how do you respond: the one you were born in, or the one you grew up in?

Seeing as the median duration in a residence is only 5.2 years* most of us have moved multiple times since birth.  So people aren’t tied to one location in today’s mobile society and many are missing that connection to a town.

I would always respond that I was born in Lowell, MA but moved a couple times before Nashua…which is where I grew up.  I have a connection to both, but my hometown is Nashua.

So I ask the question in my next post: What is home?

It’s just something I’ve been thinking about, the loss of the hometown.

NashuaMyHometown1Just my thoughts. -Jenn Cote

*https://www.census.gov/sipp/p70s/p70-66.pdf  page 4 “Seasonality of Mobility and Duration of Residence” Household Economic Studies  By Kristin A. Hansen

FACEBOOK: topNHhomes

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