What are the benefits of 503 financing?
Here is a list of benefits:
  • Lower than market interest rates.
  • Low application fees.
  • Reasonable Loan closing costs.
  • Simple application process.
  • Funds can usually be dispersed within 30 days of loan approval.
  • The 503 is willing to subordinate collateral position to a bank participating in the project.

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1. Who may borrow?
2. How may funds be used?
3. What are the restrictions on funds?
4. What are the benefits of 503 financing?