- We lend up to 80% of the total cost of most projects.
- Loans are normally amortized over a period not in excess of 25 years.
- Loans are secured by a first mortgage on your property.
- Copies of financial records and attendance history from the past 3 years are to be provided to Church Investors Fund at the time of application.
- Proven cash flow for the past three years is necessary to help us make an informed decision.
- The loan origination fee on new loans is 0.5%. This is charged at the time of loan initiation.
- Most payments are charged on a monthly basis, but other time intervals are also available.
- Interest rates are "fixed" for your choice of a 3 or 5 year term.
- Interest only payments are due only on the amount that has been drawn.
- Payments may be electronically transferred directly from the church's bank account if desired.
- Funds on a purchase are normally advanced at the date of closing on the property.
- Loan payments should not add up to more than 30% of the church's annual budget.
- The church needs to provide annual financial statements to Church Investors Fund each year that the loan is in existence.
- We are willing to waive the need for an appraisal on projects valued under $1,000,000 that are a normal loan to value ratio.
- There is no prepayment penalty for early pay down of principal when the money is raised from within the church.
Church Investors Fund Construction Loan Application is available for download. You must have the Adobe Acrobat Reader plug-in in order to view these pages. The Reader is available for download free of charge at www.adobe.com.
Please call us at 1-800-543-2343 or email us for current interest rates.