 |
|
|
CHURCH LOANS & CHURCH BOND FINANCE ONLINEŽ
Church Financing Resources Center
Welcome to The Church Financing Center!
Church Loans & Church Finance OnlineŽ is the only 100%Completely Free On-line Christian Financial Marketplace
"Where church lenders compete for your church business and you choose the church loan that's right for your church."
We are pleased to offer two types of church financing programs:
Church BOND FINANCE and Church BANK FINANCING. Church financing is available to US based churches. Our church loan programs are available for refinancing, acquisition, construction, relocation, expansion or reorganization.
Church loans from $500,000 to $10,000,000 at very competitive rates with terms up to 25 years. To apply for a church loan, please Click Below for the Church Finance Application.
For more information on church lending services, please contact us. Thank you for visiting our church financing website.
About CHURCH BOND FINANCING: Church Bond Financing is sometimes misunderstood by borrowers, so we have briefly explained the program below. General Terms, which are subject to change at any time without notice, are as follows:
LOANS OVER $1 MILLION
Rate: Contact us for latest rates
Term: 15 to 20 years
Bond Fee and Other Closing Costs: About 10% which is financed for the term of the loan.
Church Operating: At least 3 years
Church Membership: Case by Case Basis
CHURCH LOANS UNDER $1 MILLION (MINIMUM LOAN $500,000)
Rate: Contact us for latest rates
Term: 15 Years
Bond Fee and Other Closing Costs: About 10% which is financed for the term of the loan.
Church Operating: At least 3 years
Church Membership: Case by Case Basis
Let's say the total cost including a Church Bond Fee and other closing costs on a 20-year 6.95% fixed rate loan is 10%. The fee and closing costs (except for appraisal & underwriting deposit) are financed and amortized over the term of the loan (20 years), that's the equivalent of only about half a point (.50%) or an APR of 7.45%.
So the church is getting a twenty year fixed rate church loan at the equivalent of 7.45%, with NO origination. The loan payments are still based at a rate of 6.95% with an APR of 7.45%.
Compared to bank church financing, our Church Bond offer is a good deal. Bank rates in most cases are fixed for only five years, with terms of 5 to 10 years with a balloon. Plus out of pocket of 2 to 3 points, plus all other expenses, which in most cases are not financed by the bank church loan. And when that balloon comes due, there's no guarantee of the rate and fees at that time.
That is why we consider the CHURCH Bond product is a more attractive and better offer than Bank Church Financing, because in addition to the low fixed rate, you will get a church loan of up to 20 years fully amortized - no balloon!
ADDITIONAL INFORMATION about our CHURCH BOND FINANCING PROGRAM:
There are many advantages to using a Church Bond issue to finance your Church:
FIXED RATE CHURCH FINANCING: Interest rates are fixed throughout the twenty or twenty-five year amortization period of your church loan. Thus, your interest rate will not fluctuate with the prime rate, nor will we require a "balloon payment" at the end of three, five, or seven years. This is particularly attractive given the current interest rate environment. Additionally, you will know at funding, each payment scheduled throughout the church loan term, which is crucial to a budget based religious organization.
FLEXIBILITY: There will be no pre-payment penalties on your church loan. This gives you the flexibility to retire church bonds early, without locking the Church into a more ambitious payment schedule, which could become burdensome if your revenue situation should change.
STABILITY: The legacy that you will leave to succeeding trustees is one of stability and prudent fiscal management. Other sources of church financing may or may not continue to have a presence in the Church Mortgage Business three, five, or seven years down the road. Banks have a tendency to move in and out of different market segments depending upon factors that the Church has no ability to influence. Church loan officers may come and go and banks may be bought, sold, or merged.
There is never a guarantee that the new owners of the bank will be interested in financing Churches. We will give you stability and permanence.
Origination fees may be higher than that of a depositor's bank or institutional investor, but you will only incur those fees once and they are incorporated into your church loan. As opposed to incurring points and closing costs each time a balloon payment comes due. Additionally, there are no burdensome "restrictive covenants" in our church loans, which tend to place your lender in your boardroom for years to come. We will only require proof of insurance and an updated church financial statements each year, so that we have a file of information that is relevant to investors who are trading your church bonds in the secondary market.
FUTURE FUNDING: Many congregations elect Church Bond Financing because Church Bonds enable borrowing Churches to issue subsequent offerings to fund future phases of church expansion. Since our business is Church lending, you can be assured that we will be available for your future Church Bond issues to fund later stages of development. This flexibility may be will be crucial if future phases of church construction are anticipated.
About CONVENTIONAL BANK CHURCH FINANCING: IT IS AVAILABLE THROUGH CORRESPONDING CHURCH LENDERS UNDER FOLLOWING TERMS:
MINIMUM: $1 Million
RATE: Contact us for latest rates (5-Year Fixed)
TERM: 10 Years
AMORTIZATION: 25 years
LTV: 75% Maximum
POINTS: 2
CHURCH OPERATING: At Least 5 Years
CHURCH MEMBERSHIP: 300 Minimum
REQUIRED ITEMS FOR BOTH BOND & BANK FINANCING:
1. Church Finance Online Application located @ http://www.religiousloans.com/borrower/borrowerReg.jsp
2.YTD Statement of Revenues and Expenses and Balance Sheet
3. 2002 Statement of Revenues and Expenses and Balance Sheet
4. 2001 Statement of Revenues and Expenses and Balance Sheet
5. Attendance and Giving reports for 2001, 2002 and 2003
6. List if Individual Pledges
7. Pictures of the church (via email if possible)
8. Copy of sales contract, down payment and source of down payment (if applicable)
Rates are at record lows. Now is the time to buy your church building or save by refinancing your current church mortgage or just doing some remodeling or renovation. Save thousands over the life of your church loan! Consider a church refinance to shorten church loan terms and shave interest costs.
- Church Debt Consolidation
- The most competitive interest rates available!
There is NEVER any fee to consumers for using this service.
"Use the Power of the Internet to Help Power your Ministry!"
Click Here To Take Advantage of Great Rates Now!
CHURCH LOAN FINANCE APPLICATION
CHURCH BOND FINANCE APPLICATION
CHURCH REFINANCE APPLICATION
CHURCH CONSTRUCTION FINANCE APPLICATION
CHURCH MORTGAGE FINANCE APPLICATION
Send E-Mail to: krr@cox.net
Copyright © 2003 Kelly Raymond. All Rights Reserved