FIXED RATE, LONG TERM CHURCH FINANCING AVAILABLE FOR UP TO 80% OF THE APPRAISED VALUE WITH NO PERSONAL GUARANTEES.
WE ALSO HELP PREPARE WORK OUT PLANS TO MODIFY YOUR CHURCH LOANS.
Contact Louis at CHURCHLOANS@LIVE.COMCHURCH LOAN REQUEST FORM
OR CALL 708-299-3244
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 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 times its gross income. No personal guarantees are needed.
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.
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.
These programs are for small and large congregations alike.
Call or email me to discuss your situation.
direct line 708-299-3244