| General Underwriting Guidelines for
Religious - Non Profit - Church Loans
We offer a variety of programs so that
virtually every church Nationwide can qualify to
get financing for their growing church needs.
Below is a list and a brief description of each
program and what a church would need to qualify
for that specific program. If you have any
question please
contact us to discuss.
Below you will find the general outlines of our
Church loan programs:
| Recourse |
No |
| Loan Size |
$500k - 10M+ |
| Est. Rate - Term |
3 - 5 - 7 year
terms available - 7.25 - 7.95% |
| Maximum
Amortization |
25 - 30 years |
| Max LTV |
Up to 80-85% for
Purchase - Refinance - Construction |
| Minimum DCR |
35 - 40% of gross
Tithing Income |
| Pre-payment |
Declining - Lock
out during construction |
| Loan Fee |
1 - 3% |
| Survey |
Required |
| Appraisal |
Required |
| Rate Lock |
Available at
Commitment |
| Cash out |
Case-by-Case |
| Required Impounds |
Negotiable |
| Min Credit |
No |
| Assumable |
No |
| Property Types |
Traditional
Churches - Can be apart of a shopping center -
Day care - School apart of the church is ok |
Direct Money Lenders has the
ability to finance virtually any
property
type Nationwide:
|
