Church Loan Financing
- The guarantor must fill out the Uniform Loan Application Form (1003 application).
- The guarantor must provide a “
tri merge” FICO report, meaning a report from all three credit reporting agencies.
- The guarantor must fill out an online application
- The church must provide its most recent annual profit and loss statement
The maximum loan
The terms of our church financing program are as follows:
- Loans below $100K feature a 10 or 15-year fixed rate
- Loans above $100K feature a 25-year fixed rate
- A 5-4-3-2-1 prepayment penalty is included
- Interest rates are between 10.99% and 12.375%
- Bridge and construction loans aren’t available
- 2% loan origination fee
If the church is tax exempt, tax returns aren’t needed. If the church isn’t tax exempt, recent returns may be requested to verify the filing without impacting the loan application.