We are church financing experts; we analyze, underwrite and close more church loans every year than almost every bank in the country. If your Church has been in business at least 3 years and is looking for financing for the purchase, refinance, renovation or construction of real estate of $75,000 or greater we want to help with your church financing project.
Easy Qualifier Program: This church financing program is generally used for two different purposes: A Church that is growing quickly and can not show the historical ability to service the debt they need to accommodate their future growth trends but will soon have the ability to afford the amount of loan being requested. No personal guarantees are needed on this church loan in most cases.
Traditional 5/25 and 5/20: This is a traditional church loan program and offers some of the very best rates around for Churches. Loan to values up to 80% and sellers are allowed to hold second trusts up to 90% in many circumstances. This church financing program uses the traditional underwriting approach referred to as Debt Service Coverage to determine what a Church may borrow. No personal guarantees are needed for this church loan program in most instances.
90% Church Purchase Program: This church financing program is designed for Churches that do not have enough money to put down to meet traditional underwriting standards but have the ability to make the payments. This program allows a Church to either use a multiple of income approach or a traditional Debt Service Coverage calculation to qualify for the loan. The difference is generally made up by a seller held second trust or a loan to the church from another party like a church member. No personal guarantees are generally needed.
Church Sanctuary Saver: This church loan program is used to help Churches that are in foreclosure or close to it with their current lender. This program is generally used to help churches refinance their loan and get back on their feet. We can even help Churches that are in Bankruptcy. The interest rates are higher than our other programs but the payments are interest only for up to 3 years. The maximum loan to value is 65%. No personal guarantees are generally needed on this church loan .
90% to 100% Construction Loan Program: Pay interest only during construction and have your loan automatically turn into a permanent mortgage when the construction is completed. Fixed rates are available and you can finance up to 100% of the Church construction cost depending on ownership of the land. No personal guarantees on this type of church financing are needed.
Mega church financing Program: For Churches looking to finance over $3mm we have the ultimate program with terms as long as 30 years with no balloons and long term fixed rates. Loan amounts up to $70,000,000.
Family church financing Program: There are Christians everywhere and they all need a place to worship and feel at home. The Family church financing Program is designed to help smaller Churches with loan amounts as little as $75,000. So whether it is your first purchase or an expansion of your sanctuary, we want to provide your Church a loan that helps you grow.
church loan Division, Griffin Capital Funding. 800-710-6762