4.625 504 20 year term, April 2017
4.817 504 10 year term, March 2017

 

Refinancing Now Available with 504 Program!

 

This program can now be used to refinance existing debt and the rules have recently changes to provide more flexibility.

 

Recent Program Improvements Include:

 

*             Loan-to-Value Limitation for the Financing of “Business Operating Expenses” increased from 75% LTV to 85% LTV

 

*             Minor changes in ownership of the business within the past two years will no longer prevent an application from moving forward

 

*             The borrower/lender friendly interim loan option that worked so well in 2012 is back-- in addition to the Escrow Account option

 

*             Appraisals are now allowed to be dated within one year of the 504 Loan application (instead of 6 months)

 

 

 

See our updated Eligibility Checklist here.

 

For more detailed information contact your local WBD Loan Officer.