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Church Mortgage Program: A church mortgage is used to buy real estate and is always a first mortgage. Your organization may be purchasing land, a larger sanctuary, or even a day care center. Our network lenders offer the most competitive interest rates!

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Church Mortgage Loan Program

CHURCH MORTGAGE LOAN

This type of loan is used to buy real estate and is always a first mortgage. Your organization may be purchasing land, a larger sanctuary, or even a day care center. Each of these has its own set of lending "rules" that dictate how your church mortgage can be structured. 

Our network lenders will consider the property type, your organization's assets, income, and the amount of money you have to put down to determine how much they will lend and at what rate.

To apply for a church mortgage, the following must be submitted to us:

 

General Information
Financials Financial statements of the church's last three fiscal years and current period (if available) including income statements and balance sheets.
Appraisal Estimated appraisal value of the property to be mortgaged to secure the financing. If an appraisal is not available, we will consider the �book value� or other indicators as part of our preliminary evaluation.
Use of Proceeds Itemized list of the intended use of the requested loan proceeds.
History A brief history of the church including date of origin, denominational affiliation, if any, and adult membership and attendance figures.
Resume A brief resume or biography of the church�s senior pastor.
Project A brief description of the proposed construction or renovation project (if applicable).

 

Qualifications
Loan to Value Loan amount should not exceed 75% of the value of the church property as completed.
Loan Size Loan amount should normally not exceed three times the church�s last fiscal year�s total support and revenue.
Ability to Repay The church must demonstrate the ability during its preceding two fiscal periods to comfortably repay the anticipated mortgage loan.
Construction In renovation or construction projects, the church must engage an independent general contractor under a firm fixed-price contract.
Non-Profit Corporation Our loans are available exclusively to those organizations deemed "non-profit" organizations by the Internal Revenue Service, such as churches and schools.