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[1] [3] Some barndominiums double as both a residence and as a place of business. [2] A similar style is the shouse (workshop plus house). [4] The term barndominium was originally coined by Karl Nilsen, who was a real estate developer in Connecticut. Barndominium is derived from using a combination of the words barn and condominium. [5]
Mortgage calculators can be used to answer such questions as: If one borrows $250,000 at a 7% annual interest rate and pays the loan back over thirty years, with $3,000 annual property tax payment, $1,500 annual property insurance cost and 0.5% annual private mortgage insurance payment, what will the monthly payment be? The answer is $2,142.42.
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