Church Lenders Directory

church loans for new homes or renovations

There are many reasons that churches seek financing and in January we ran a poll on our Facebook page to find out what churches thought they would need this year. Our results were a tie indicating that most churches will be seeking church loans for new homes or renovations in the upcoming months.

Last year, we closed more purchase loans than any other form of church financing. This trend is holding steady as the first quarter of 2017 closes. We are providing many loans to younger churches ready to buy first homes, and we are helping churches buy vacant commercial buildings to renovate. This month we closed loans for 2 young churches that are 3 years old; one in Macon, Ga and the other in Lacoochee, FL. Although they are in different parts of the country, they both faced fast growth and needed new homes to house their congregations.

The runner up to purchase loans in 2016 was refinances. Churches refinance for many reasons: lower interest rate, consolidate debt, etc. For example, we helped a church in Delaware consolidate all of their mortgages and credit card debt into one loan. We were able to do this and lower their interest rate with a 10 year fixed term. They have improved their financial base and have more money available for their work in God’s Kingdom.

A church in Sayreville, NJ, also came to us because they were ready to refinance their loan with their current lender. They also wanted to pull some cash out for debt consolidation and renovations. Their lender was not flexible and said no. We understand that the biggest asset a church has is the equity in its building, and that they need to be able to leverage it for financing to fulfill their needs. We provided a loan to allow them to pull out the cash they needed to make repairs to their building and lowered their interest rate in the process.

No matter what the reason is for your church needing to obtain a loan, we can help you quickly and with low interest rates. Call us at 800.710.6762 and one of our loan experts will help you get started. You can also visit our website church-loan.com to learn more.