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Consultants Providing Customized Services.

                                                  CHURCHES

                                   

          Current Church Loan Rates:

             Max LTV= 85%.  Average LTV= 60% (Case By Case)


             5 yr.   Fixed Rate with a 20 yr. Amortization = 3.350% 

             10 yr. Fixed Rate with a 20 yr. Amortization = 4.250%

             15 yr. Fixed Rate with a 15 yr. Amortization = 5.200%

             20 yr. Fixed Rate with a 20 yr. Amortization = 5.250%

          30 yr. Fixed Rate with a 30 yr. Amortization = 5.500%



( Not all programs are available in all areas. Rates are subject to change at anytime.  Email us directly at [email protected] for additional services. Text or call directly to 470-494-3473).

                                                                   

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                                       How Much Money Should a Church Borrow?


Whenever real estate is involved, there are risks and rewards to making an investment. Borrowing money is something to research to determine whether or not payments are affordable and how long it will take to pay off the loan. There are many factors a church should consider before undertaking the process of obtaining a loan.


#1: What is the size of the congregation? With any loan, lenders will look at the debt-to income or the multiple of income ratio to determine the amount of money the church may qualify to borrow. We work with the church committee and pastor to determine an amount that will fit within their budget. A general rule for church loans is that no more than 85% of its income should go towards paying the essentials like utilities, debts, and salaries. The other 15% gives the church a comfortable cushion which they may choose to save or use for missions work or community projects.


#2: Churches should also look at the stability of their income and the likelihood of current income continuing, increasing or even decreasing. For a few months prior to applying for a loan, it is a good idea to start saving on a monthly basis an amount equal to the proposed payment of the new loan. This will give the church the ability to “feel” what the new payment will be like. If the church is currently paying rent they will only need to save the difference between their current rental payment and the new mortgage payment.


#3: It is a good idea for a church to begin saving money towards the purchase of a property …… and long before they have identified the property, or even formalized a plan to purchase a property. Any church that has money saved is in a good position to come up with the down payment necessary for a purchase, and this has the vital additional benefit of showing an underwriter, that they have excess income.


When determining how much a church should borrow, the best way to be prepared is to speak with one of our church loan analysts; they will review your income and expense statements and discuss the churches options. By staying within a realistic budget, the church can comfortably meet its obligations and have money to save or use to support missions work.


Contact Winston Carhee,  Sr. at  phone # 470-494-3473, if you have any questions  or  need  more information.  



                                                    CLICK HERE and Start Your Church Loan Application.



                                Here Are Some Highlights Of Our Programs:


                               No Tax Returns Required.

                               No Audited Financials Required.

                               No Personal Guarantees Required.

                               Loan Terms are available up to 30 yrs.

                              We offer Full Term Fixed Rate Loans, without balloon payments.