The Registry Review: July 29, 2019

Page 1

Vol.41, No.30

www.thewarrengroup.com

W E E K O F M O N D A Y, J U LY 2 9 , 2 0 1 9

THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group

WEEKLY SALES OF NOTE

TOP LENDERS

Keene MAPLE AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $15,000,000 B: Tanglewood Park Coop Inc S: Tanglewood MHP LP Mtg: Provident Bank $16,218,000

Allenstown GRANITE STREET EXT. . . . . . . . . . . . . . . . . . . . . . . . $13,500,000 B: Bear View Crossing Coop S: Holiday Acres Mobile Home Park I LP Mtg: Provident Bank $13,590,000

Portsmouth

CU Finds Success Partnering with State Programs Top FHA and VA Lenders Announced BY BRAM BERKOWITZ REGISTRY REVIEW STAFF

505 US HIGHWAY 1 BYP. . . . . . . . . . . . . . . . . . . . . . . $2,685,000 B: Giri Portsmouth 505 Inc S: Seacoast Dev Group LLC Mtg: Kennebunk Svgs Bank $5,912,000 Use: Motel, Lot: 111514sf

Ashland 24-40 LEDGEWOOD LN. . . . . . . . . . . . . . . . . . . . . . . . $2,359,533 B: HHA LP S: Laconia Area Community LT Mtg: Franklin Svgs Bank NH $2,500,000 Use: Commercial Building, Lot: 287496sf

Tuftonboro 20 PLANTES WAY. . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,000,000 B: Thomas Leonard & Catherine Hill S: Stephen J Balog & Rosalie Balog Use: 3 Bdrm Ranch, Lot: 50530sf

Moultonboro 19 ALDERBERRY LN. . . . . . . . . . . . . . . . . . . . . . . . . . $1,950,000 B: Katherine Johnson Tr, Tr for Katherine Johnson LT S: Ryan J Barrett & Sarah A Barrett

Hooksett 272 LONDONDERRY TPKE. . . . . . . . . . . . . . . . . . . . . . $1,575,000 B: 272 Londonderry Tpke LLC S: GMS Real Estate LLC Mtg: NBT Bank NA $787,500

Sunapee 4 LAKE AVE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,450,000 B: 105 11th St S SPE LLC S: Lawrence L Robins Tr, Tr for Lawrence L Robins T Use: 1-Family, Lot: 29185sf 78 BURKEHAVEN LN. . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 B: Andrew Bowditch S: Francis H Nolin Jr

Dover 38 MALLARD LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,195,000 B: Jonathan Kipp Tr, Tr for Jonathan Kipp RET S: Luanna Marold & Paul Marold Mtg: Baycoast Mortgage Co $688,750 Use: 5 Bdrm Cape Cod, Lot: 127631sf

L

oans guaranteed by the U.S. Department of Veteran Affairs and Federal Housing Administration can in some cases be challenging to originate. Applicants are typically first-time homebuyers and the loans have unusual requirements for lenders and borrowers. But one financial institution is finding success with these loans by partnering with state financing and tax credit programs. For the first time, The Warren Group has released the top lenders of VA and FHA loans in New Hampshire. The rankings include banks, credit unions and mortgage companies and are based on loan volume in 2018. While different products, both VA and FHA loans typically allow borrowers to put very little money down, or none at all, on a home purchase. Various government agencies then fill in the gap so banks can originate the mortgage and still meet their underwriting standards. These loans also allow borrowers to qualify with lower credit scores, and offer other advantages, such as seller credit to help borrowers cover closing costs, which can be thousands of dollars. Although both are lenient, VA loans are considered to have the easiest qualification standards, but require the borrower to

REAL ESTATE RECORDS

450

3 Belknap ���������������������������� 07/16/19 3 Carroll ���������������������������� 07/16/19 4 Cheshire ������������������������ 07/16/19 4 Coos �������������������������������� 07/16/19 5 Grafton ���������������������������� 07/16/19 6 Hillsborough ������������������ 07/16/19 7 Merrimack ���������������������� 07/16/19 9 Rockingham ������������������ 07/16/19 11 Strafford ������������������������ 07/16/19 12 Sullivan �������������������������� 07/16/19 13 Bankruptcies 13 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals

T

300 150 150 00

June July July Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Feb. Feb. Mar. Mar. Apr. Apr. May June May June June ’18

’19

Number 750 of Sales 750 600 600 450 450 300 300

150 150 00

June June June June June June June June June June June June ’14 ’15 ‘16 ’17 ’18 ’19

Continued on Page 16

TO OUR READERS

750 750 600

TRANSACTIONS THRU

ing that it is a challenging time to be purchasing a home in New Hampshire due to a lack of inventory. “We focus heavily on a high-tech and high-touch approach to the borrower and being extremely sensitive to their needs.” One way the bank does this, according to Mayrand, is by working with state agencies that offer housing programs, which often refer clients to the credit union. One of those is the Home Flex program, of-

Number of Condo Sales

INDEX PG COUNTY

be a veteran with a valid certificate of eligibility issued by the Department of Veterans Affairs. Manchester-based St. Mary’s Bank, the country’s first credit union, was a top lender of both FHA and VA loans in 2018. “Understanding the market needs of firsttime homebuyers and helping them overcome challenges is critical and the government programs offer more flexibility – VA is one of best programs out there,” said Karen Mayrand, director of residential lending at St. Mary’s, add-

New Hampshire Market Statistics

Candia 15 LANGFORD RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,047,400 B: Paul Cerza & Anna M Cerza S: Jennifer R Wise Tr, Tr for Jennifer R Wise RET

Understanding the first-time homebuyer’s needs and helping them overcome challenges are key to the success St. Mary’s Bank has had in leading its peers statewide in both FHA and VA loans in 2018.

Year

Number of Sales

Change Prior Year

June 2014 June 2015 June 2016 June 2017 June 2018 June 2019

488 488 537 598 575 538

9.42% 0.00% 10.04% 11.36% -3.85% -6.43%

q Statistics based on single-family home sales of $1,000 q Source: The Warren Group

©2019 The Warren Group Inc. All rights reserved. No part of this publication may be reproduced without the written consent of the publisher.

he Registry Review is online! After more than 40 years as a printed newspaper, all of the real estate information you rely on is now available at www.theregistryreview.com. (There are no plans to cease publication of the newspaper.) All current subscribers have complimentary access to the website. When you first visit the site, please click the “forgot password” button to set up your account. If you have any problems please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com. If you have any feedback or would like to contribute content, please email editorial@ thewarrengroup.com. Sincerely, Cassidy Norton Associate Publisher The Warren Group


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