We offer first mortgage loans with competitive interest rates and flexible terms tailored to meet your church’s needs. We work with you to ensure that financing accommodates your current and future plans. We’ll listen to your needs and concerns, and we’ll take the time to interpret our loan plans to church leaders, to help you determine which plan is most advantageous.
If you wish to have your monthly loan payment automatically withdrawn from your church bank account each month, please send us a completed authorization form for ACH debits.
Loanable funds are provided by church, agency, and conference accounts that are invested in the Foundation’s “Loan Pooled Fund”. These organizations serve in mission partnership with borrowers by investing their available funds in the “Loan Pooled Fund”. This stewardship of church resources is key to the success of the Foundation’s Loan Program.
To qualify for a Foundation loan, churches must meet the Foundation’s underwriting criteria. Payment of Conference Apportionments is a factor that will be reviewed as part of our underwriting process.
• Construction Loans
If you are planning to build a new church, planning an addition, remodeling, or extensive repair and improvements, you will want to consider our Construction Loans. During construction, you pay interest only on funds as drawn. After construction is complete, your loan will automatically convert to a permanent fixed rate or adjustable rate mortgage loan. Churches must follow Conference procedures regarding building projects and must secure all necessary approvals.
• Refinance Loans
If your church currently has a mortgage loan, we would like to review with you the benefits of refinancing with the Foundation. With our low rates and minimal costs, we may be able to save you money.
• Adjustable Rate Loans
We currently offer Adjustable Rate Loans with terms up to fifteen years. The interest rate on these loans is initially fixed for a term of one, three, five or ten years to suit your church’s needs. After this period, the interest rate is adjusted annually. These loans are secured with either a first mortgage on church property or with an unrestricted investment account held at the Foundation.