MINIMUM LOAN:
All states $250,000 minimum
LOAN TO VALUE RATIO:
Up to 80% LTV but most loans will fall at 75% LTV.
MAXIMUM LOAN:
Up to 75MM or more on a case to case basis
Up to 4 times the plate amount and any non- ministry specific funds such as a building fund.
REVENUES:
Should be increasing for past 3 years. The borrower will need to provide 3 years financial statements.
ATTENDANCE:
Church should be able to show attendance growth over past 3 years.
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TYPES OF LOANS:
Purchase, Refinance, Expansion, Renovation, Additions, Construction, Raw Land for future expansion, Church Schools, Church Camps, etc.
LOAN PROGRAMS:
ARM and Fixed terms available
Terms from 20-30 Year amortization.
SPECIAL FINANCING:
Bond financing available
Asset only based financing available
PREPAYMENT PENALTY:
Usually none, but based on individual loan and loan program chosen.
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