The following items are required by BDM Mortgage Services in order to process a loan for a church:
1. Copy of the church’s Articles of Incorporation.
2. Copy of church’s By-laws.
3. Fire insurance information on the church’s property.
4. Photocopies of the church’s last 12 months bank statements.
5. A Letter of Resolution: A letter on church stationery authorizing BDM Mortgage Services to arrange the loan, stating the amount of the loan and who is authorized to sign loan documents on behalf of the church. This letter must be signed by a member of the church who is not signing the loan documents.
6. The names and addresses of the Board of Directors.
7. Information on any existing loan(s) on the church’s property. The name, address and phone number of the lender as well as the loan number and the outstanding principal balance.
If you are unsure about an item on this list, or would simply like further clarification of what is required in order to process your loan, please don’t hesitate to Contact Us at (800) 439-9551 with any questions you might have about the loan process.