Church loan to purchase property: Generally we can offer loans with first trust up to 80% and in certain markets 85%. In most cases we allow subordinate financing up to 90% with the purchaser bringing in as little as 10% of their own money plus closing costs.
Church loan to refinance current debt: When refinancing current debt the church does not generally need any of their own money. The closing costs of the church loan are rolled into the loan amount.
Church financing for construction: If the church already owns the land they are building on it is very possible that they will not need to put any cash into the construction project. In general, 80% of the total project cost can be financed but this can increase if the church has equity in the property.
Church financing for renovation: In most cases, the church does not need to bring in any of their own money to put towards the cost of the renovations; instead the equity in the property is used as the church's contribution. If the church has little equity in the property compared to the cost of the renovations then the church may need to inject money into the project to bring the total project cost to 80% of the completed value.
*** Church loan programs are subject to change. Not all programs available in all geographical areas. Not every church will qualify for a loan. We strongly support equal credit opportunity for all churches!
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