90% Self Storage Financing Is Back!

I was beginning to think I would never hear that 90% financing would return until I received an email last Friday…. ;

‘90% financing on Self Storage’

The update heralded what we believe to be the return of common sense lending that was available prior to the market downturn in 2007. Prior to that, if a transaction made sense, an investor would provide funding for it. The sub-prime residential bank panic had the effect of a Tsunami on the lending industry as a whole, leaving both banks and borrowers at a loss as to what to do next. The last 36 months have cleaned up the industry and now we stand strong with the professionals who have weathered the storm and are in it for the long haul. ;

Some of the loan programs we had used for years disappeared overnight and are now starting to trickle back into the lending landscape. It may take a while, however, there is a great deal of inventory on the market making it a good time to purchase, not to mention refinance an existing mortgage for an improved rate or longer amortization to free up cash flow for property improvements or business debt consolidation.

The 90% LTV program is for both purchase and refinance of most commercial property but as of Sept. 27, 2010 has been opened up to the self storage sector. The program is available for loan amounts of up to 5 million dollars and requires full documentation of the income on the property. The interest rates vary day to day, however they are some of the lowest we have seen historically in decades.

Please contact us for further information at 615.417.4710
Anita Huedepohl, Owner
Liberty Funding