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Church

Financing

Loan Requirements:

All loans are different and unique. Below are guidelines for all types of loan structure for church financing.

MINIMUM LOAN

All States $1,500,000 minimum

LOAN TO VALUE RATIO

65% to 75% appraised value and sometimes 80% in above states

MAXIMUM LOAN

2.5 to 2.75 times gross revenues. (Example $250,000 gross annual revenues would qualify for a loan of $625,000 to $687,000.)

MAXIMUM MONTHLY PAYMENT

1 weeks average contribution should not exceed the monthly principal and interest payment.

REVENUES

Should be increasing for past 3 years. The borrower will need to provide 3 years financial statements.

ATTENDANCE

Church should be able to show attendance growth over past 3 years.

TYPES OF LOANS

Purchase, Refinance, Construction, Expansion, Renovation, Additions, Parsonage, Retirement and Nursing Facilities, Raw Land, University Facilities, Church Schools, Church Camps, etc.

LOAN PROGRAMS

1, 3, 5 year ARMS (Conventional Loans). Other programs also available.

SPECIAL FINANCING

Tax Exempt and Taxable Note Programs currently under 7.0% for loans over $2,000,000 if church can qualify - Please contact us. Also first mortgage bond financing available.

LOAN TERMS

5, 10, 15, 20 and sometimes 25-30 years on certain occasions.

PREPAYMENT PENALTY

Generally none, but based on individual loan and loan program chosen.

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