1 William Shakespeare died on April 23rd 1616, and was buried on April 25th, in the chancel of the same church in which he was baptised 52 years earlier.
Commercial term loans are short-term financing for non real estate purposes. The rates are typically fixed and the term runs from three to 10 years. Ten-year terms are a bit rare, however, with most commercial term loans capping at seven years.here are a number of loan variations too, ranging from mortgages to term loans to lines of credit. Unlike residential loans, commercial loans do not always have set terms. While the specifics can be negotiated, average commercial loan terms fall into certain ranges.
Terms are commonly for 30 years, and to a lesser extent 15 years long. Longer terms mean interest is paid to the lender for a longer period of time, making the mortgage more expensive. To illustrate the difference, compare the costs of a 30-year and 15-year $200,000 mortgage with a fixed rate.According to Freddie Mac, the average 30-year mortgage rate in 2009 was 5.04 percent, which would cost $388,274 over the 30-year term.The average 15-year fixed rate in 2009 was 4.57 percent, or $276,687 over 15 years.erms are commonly for 30 years, and to a lesser extent 15 years long. Longer terms mean interest is paid to the lender for a longer period of time, making the mortgage more expensive. To illustrate the difference, compare the costs of a 30-year and 15-year $200,000 mortgage with a fixed rate.