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We offer specific 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 |
See below |
| Maximum
Amortization |
30 years |
| Max LTV |
80-85% for
Purchase and Refinance |
| Minimum DCR |
35% of gross
Tithing Income - Owner Occupied |
| Pre-payment
|
Declining -
Lock out during construction |
| Loan Fee |
1 - 3 points |
| Survey |
Required |
| Appraisal |
Required |
| Rate Lock |
Available at
Commitment |
| Cash out |
Available |
| Required
Impounds |
Negotiable |
| Min Credit |
No. Could
effect deal if credit is terrible |
| Assumable |
No |
| Property Types |
Traditional
Churches - Can be apart of a shopping center -
Day care - School apart of the church is ok |
Church Loans:
Rates & Terms
|
Fixed Rate Financing |
Adjustable Rate Church Financing |
|
Terms of up to 30 years |
3
-5 - 7 - 10 year terms available |
| No
Pre-payment penalty |
20
- 25 - 30 year amortization |
|
Fully Amortized |
Rates starting at 6.25% |
| 20
years 6.9% - 7.5% - > 1M |
Libor Rates |
| 25
years 7.1% - 7.7% > 1M |
First Trust Deeds |
| 30
years 7.2 - 7.8% > 1M |
Second Trust Deeds |
|
Interest only during construction |
Unsecured |
|
Roll to permanent after construction term |
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Please
contact us for further information
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