Refinancing Your Church Mortgage It's important that you feel secure with your churches finances. Though each situation is different, there are times you may require refinancing on your church loan. Balloon Loan Loans can come either fully amortized or...read more
Times to Expand Your Church Facility Are you wondering if your church requires an expansion? It is often difficult to tell if now is the time, so you will need to weigh the pros and cons before moving forward. That is why it is important to get as much...read more
Church Budget Planning Having a well planned out budget for your church is essential in making sure that you are able to provide your services every month. Just as with any business, you need to properly plan, and check on your budget frequently. Remember that...read more
Why Can't My Church Get A Loan? When you need to get funding for your religious institution and you go the standard route, you are nearly guaranteed to run into hiccups along the way. Although not publicized, most institutional lenders, such as banks, will rarely...read more
Several years ago a friend of mine in the real estate business, in an attempt to make a point, said he would pay me any price for my home I asked with only one condition, he got to pick the terms. I had purchased my home for $200,000 the previous year, so I decided I would call his bluff. I told him, “I want $1 million for my house”. Without any hesitation he stuck out his hand
and said to me, “Deal!”.
The members of a church will likely have many questions when they first initiate the loan process. How much does the church need to borrow? Which potential lenders actually make loans to churches? What documentation will be required during the loan process? What will be the interest rate? How much will be the monthly payments? Yet, before the answers to any of these questions can be of any real significance, the first thing the church members will want to know is, can we qualify for the loan?read more