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LOAN REQUIREMENTS:
All loans are different and unique. Below are guidelines for all types of loan structures.


MINIMUM LOAN:
All states $500,000 minimum, except in Ohio, Michigan, Indiana, Kentucky, Tennessee and Florida, which may be less.

LOAN TO VALUE RATIO:
65-75% of appraised value and sometimes 80% in above states.
MAXIMUM LOAN:
2.5 to 2.75 times gross revenues. (Example $250,000 gross annual revenues would qualify for a loan of $625,000 to $687,000.)
MAXIMUM MONTHLY PAYMENT:
1 weeks average contribution should not exceed the monthly principal and interest payment.
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, Construction, Expansion, Renovation, Additions, Parsonage, Retirement and Nursing Facilities, Raw Land, University Facilities, Church Schools, Church Camps, etc.
LOAN PROGRAMS:
1, 3, 5 year ARMS (Conventional Loans). Other programs also available. (Call for rate quotes).
SPECIAL FINANCING:
Tax Exempt and Taxable Note Programs currently under 7.0% for loans over $2,000,000 if church can qualify - Please contact us. Also first mortgage bond financing available.
LOAN TERMS:
5, 10, 15, 20 and sometimes 25-30 years on certain occasions.
PREPAYMENT PENALTY:
Generally none, but based on individual loan and loan program chosen.
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