Church Loans, Church Finance
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 More About Church Loans >> |
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At Griffin Capital we are direct church lenders offering our own church loan products as well as church loans from other private and public institutions. We also work with high net worth individuals that have an interest in loaning their money privately to promote Christianity and furthering His Kingdom.
We are Church loan experts and as such we recognize that not one shoe fits all feet and that is why we have designed a number of different programs to help as many Churches as possible get the loan they need to promote their church.
If your Church has been in business at least 3 years and is looking for a Church loan collateralized by real estate of at least $50,000 we probably have a church loan program for you.
Examples of programs: These are traditional church loans and not church bonds.
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 new church loan 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 4.5 times its gross income. No personal guarantees on the loan. This church loan program is available to mortgage brokers.
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 85% in certain cases and rates are extremely good. This church loan program uses traditional debt service coverage for underwriting purposes. No personal guarantees needed on this loan. This program is available to mortgage brokers.
100% Purchase Program: This program allows a Church that is buying a building to use the equity in the building being purchased to qualify for the church loan without putting down any money. This program has excellent rates and terms. This program allows a Church to borrow up to 3 times its gross annual income to qualify for the Church loan. Other underwriting factors are of course important. No personal guarantees on this type of church loan are needed. Although we are happy to work with mortgage brokers on most of our products, this church loan product is only available directly to Churches and through our correspondents.
Church Loan Saver: This church loan program was specifically designed to help Churches that are in trouble with their current lender. This church loan program is generally used to refinance their current loan and get back on their feet. We can even help Churches that are in Bankruptcy and foreclosure. The interest rates are higher than our other Church loan programs but the payments are based on interest only to help keep them lower. The maximum loan to value is 65% of the quick sale value. No personal guarantees needed on this church loan are needed. This church loan program is available to mortgage brokers.
Construction Loan Program: Pay interest only during the church construction and have your loan automatically turn into a permanent mortgage when the Church construction is completed. Fixed rates are available and you can finance up to 100% of the construction cost depending on the ownership of the land. No personal guarantees needed on this church loan. This program is available to mortgage brokers.
If your Church needs financing we want to help you!!!
Warm Regards,
Church Loan Division, Griffin Capital Funding. 800-710-6762
