Refi Self Storage - Posted by Ricky

import · August 22, 2006, 9:32am

Posted by Ricky on August 22, 2006 at 12:22:37:

Patrick

My property is located in Louisiana, and does not have a prepayment pentalty.

Thanks for your info

import · August 22, 2006, 9:32am

Refi Self Storage - Posted by Ricky

Posted by Ricky on August 22, 2006 at 09:32:58:

Currently have a 20 year loan @ 7.75 for 3 years, balance of 445k, and a value of 525k. Would like to lock in on a fixed rate before rates jump. Have excellent credit and a good cashflow.

import · August 25, 2006, 3:06pm

Re: Refi Self Storage - Posted by Don Dion

Posted by Don Dion on August 25, 2006 at 15:06:35:

Your LTV is only 85% which would be a big problem in getting a low long term fixed rate since most of the long term lenders for self storage want 75% or lower risk. You might be in the best loan you can get now until you raise your income levels.

import · August 22, 2006, 10:04am

Re: Refi Self Storage - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on August 22, 2006 at 10:04:52:

Depending on a few factors, namely location of the property and the properties cash flow, you should have no problem getting a 30 year fixed loan at or under your current rate of 7.75%.

Do you have a prepayment penalty?

import · August 25, 2006, 6:11pm

Re: Refi Self Storage - Posted by Ricky

Posted by Ricky on August 25, 2006 at 18:11:51:

Thanks for the info