More often than not, a rapidly growing church will find itself in a situation where it cannot afford a facility large enough to house its current or expected congregation. Since the existing building size limits the growth potential of the organization, most churches look to renting a larger space. While this certainly is an option, the rental fees act as sunk costs that reduce the overall income of the church.
Fortunately, there is another solution that is often overlooked:
Leases with the option to purchase are a great way to get the space you need, while putting your down payment towards the purchase price of the property. Since there are numerous ways to structure this type of agreement, we recommend you keep the following aspects in mind as you negotiate:
Although a lease-purchase agreement is not for everyone, understanding your options is a vital step in the negotiation process. For more details about this option, or to speak with us directly, please call us at (800) 710 – 6762 Ext. #1
As always, we have one of the best referral programs around. By introducing us to someone that we provide a loan for, we will pay you ½% of the loan amount, up to a maximum of $10,000. While this program is open to everyone, mortgage brokers must choose between charging points on the loan or earning the referral fee.