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If your Church has been in business at least 3 years and is looking for a Church loan collateralized by real estate of at least $50,000 we probably have a program for you.
Examples of programs: These are traditional church loans and not church bonds.
v Easy Qualifier Program: This is our most lenient church loan program and is generally used for two different purposes. When a Church is growing quickly and can not support the proposed new church loan payment on a historical basis according to traditional bank standards this is a good program. This is also a good program when a Church is in a turn around situation; maybe they have had some membership declines and are having difficulty being approved under bank standards. The rates are slightly higher but a Church can borrow up to 4.5 times its gross income. No personal guarantees are needed. This church loan program is available to mortgage brokers. Up to 95% LTV, 95% CLTV's, Loan amounts up to $1,500,000
v Traditional 5/25 and 5/20: This is a traditional church loan program and offers some of the very best rates around for Churches. Loan to values go up to 80% and rates are extremely good. This church loan program uses a traditional debt service coverage underwriting method to qualify a church. No personal guarantees needed on this loan. This program is available to mortgage brokers. Minimum FICO score: 580
v 90% Purchase Program: A Church that is buying a building at a discount from its fair market value can use part of the equity in that property to decrease their down payment. For example, if a church is purchasing a property that is worth $1,000,000 and they are buying it for $700,000 then in some circumstances we would only require a down payment of 10% of the purchase price ($70,000 in this instance). Rates and terms on this program are excellent. The maximum loan amount under this program is 3 times the churches gross income. No personal guarantees are required on this program. Amortization periods: 15, 20 and 30 year
v Church Loan Saver: This church loan program was specifically designed to help Churches that are in trouble with their current lender. This church loan program is generally used to refinance their current loan and get back on their feet. We can even help Churches that are in Bankruptcy and foreclosure. The interest rates are higher than our other Church loan programs but the payments are interest only. The maximum loan to value is 65% of the quick sale value. No personal guarantees needed on this church loan.
v Construction Loan Program: Pay interest only during the church construction and have your loan automatically turn into a permanent mortgage when the Church construction is complete. Fixed rates are available and you can finance up to 100% of the construction cost depending on the ownership of the land. No personal guarantees needed on this church loan.
v Mega Church Financing Program: For Churches looking to finance over $3mm we have the ultimate program with terms as long as 30 years with no balloons and long term fixed rates. Loan amounts up to $70,000,000.
v Family Church Financing Program: There are Christians everywhere and they all need a place to worship and feel at home. The Family Church Financing Program is designed to help smaller Churches with loan amounts as little as $50,000. So whether it is your first purchase or an expansion of your sanctuary, we want to give you the Church loan that helps you achieve God’s vision for your Church.
If your Church needs financing we want to help you! APPLY HERE and one of our Church loan specialists will call you within 24 hours and walk you through the next step/s toward getting the financing you need.
