Tag Archives: Financing

Church Loans, Church Financing and Church Mortgage Company

Church Loans, Church Financing and Church Mortgage Company

People who is lending for loans will prefer the services with low bond fees, no processing fee, lower repayments with low interests and honest answers. In these days church loans are the interesting business in USA.

We here found Griffin Capital Funding, a customer friendly and fast service providing financing company in loan processing and also which makes Church Loans much more easy. Here Interest rates very low when compared with other financial organizations in the industry and processing fees are very very reasonable.

The company provides services like mortgage calculator to estimate the complete process of the loan, offers church referral program to refer new interested customers and offers brokers who guides you in suggesting the right plan for your economical situation, follows the underwriting methods supervised by the experienced professional.

As we think every satisfied client is a valuable asset for the company, we serve every customer with a special interest and guide them in a honest way. If you want to know more about our service just go through customer testimonials and check out list of recent loans closed. And company offers 25 loans programs only for churches. The main highlights of our loan process is that there is no personal guarantees needed, no tax returns, fixed rates up to 30 years , no balloons, no upfront fees, no audited financials.

If you are interesting in further more information visit www.Churchloans.info or call us at (800) 710 6762.

Churchloans.info offers church loans, church financing and church mortgage loans for churches easy. No personal guarantees, no tax returns needed.

Church Loans, Church Mortgage, Church Financing With Best Repayment Rates Through Griffin Capital Funding

Church Loans, Church Mortgage, Church Financing With Best Repayment Rates Through Griffin Capital Funding

Churchloans.info provides Church Loans, Church Mortgage, Church Financing  with Best repayment rates through Griffin Capital Funding.

Are you looking to lend a loan for churches ? The best suggestion for you is to select the financial providing company which delivers the services like low bond fees, no processing fee, lower repayments with low interests and honest answers and provides the services for church loans exclusively with good reputation in the city.

In USA the well known Church Loan provider is there, which is well recognized for many of well satisfied clients, the company is a sub branch of Griffin Capital Funding and the company is well known for its fast service in providing loans with low interest rates and no extra charges.

Company offers about 25 loan programs where every program has its own speciality and recognition where the features of ever plan includes in no personal guarantees needed, no tax returns, fixed rates up to 30 years , no balloons, no upfront fees, no audited financials. We got well experienced and expertised staff to take care of clients in suggesting good loan plan for them and providing responsible service through out the loan process.

This company has got good informative website www.Churchloans.info, which includes in mortgage calculator estimate the costs and repayment terms of the loan plan and well satisfied client testimonials. And also there is a referral program where one can gain lot of commission by referring another person for loan plan.

If you want to get into the loan process for churches fill up the Contact Form or Call our representative at (800) 710-6762.

For more details log on to www.Churchloans.info.

The company provides services like mortgage calculator to estimate the complete process of the loan, offers church referral program to refer new interested customers and offers brokers who guides you in suggesting the right plan for your economical situation, follows the underwriting methods supervised by the experienced professional.For Contact Details View http://www.churchloans.info/

Major Church Financing Difficulties

Major Church Financing Difficulties

Financing, Loans and Commercial Finance for Churches at Church-Financing.com.

Nearly all Churches necessitate the need of a commercial real estate financing. The financial sources for real and substantial estate includes: Regional banks, Private investors, Insurance companies, Saving and Loan institutions and Mortgage banking firms. First let’s touch on the obstacles that occur during the process of acquiring the church mortgage loans & church financing.

The Major Church Financing Difficulties:
(1) Church properties are unique and so, for this reason Lenders have a great apprehension regarding this matter because if the loans are not paid within a stipulated time, Lenders will be accounted for it. They have to assume ownership of the property. Owing to unique property features, it is not going to be easy to come across a new owner.
(2) For getting the hold of church loans, Lenders often entail the need of “personal guarantors” especially on account of prior observation with reference to the complexities that are involved in selling the church property again.
(3) When the church financing needs are attained, there are many objectionable terms that get exist. Such as: Minute amount of loans, low loan-to-value (LTV) of 50% to 60%, short-period time of loans and rates of high interest. By this, churches get many possibilities to face the countless financial difficulties.
(4) More than Purchasing and/or Refinancing, Church Financing, Church Construction Loans, Church Renovation and Land acquisition loans are considered as more intricate to deal with. Therefore, needed repairs are delayed for an indefinite period and new churches take lots of years to become a reality.

The Practical Solutions for the Problems which have been Issued above are:
(1) High LTV: High LTV of 75% to 85% would generate a realistic amount of about 15% to 25% that can be utilized for the purpose of down payment or non-financed portion in refinancing.(2) Long-term loans: To make the church financing more successful, rather than short-term, church financing should be of a long term, i.e. up to at least time period of 30 years.
(3) Non-Recourse Loans: Being reluctant towards individual guarantors fetches a non-traditional church lender. And than through this approach, church lending will no more rely on individual guarantors for the church financing.(4) Large sum of Loan: Ability to accommodate large church loan needs, at least of 0,000. This move would than persuade churches to finish their most business financing in one stage rather than by going through many stages.
(5) Low interest rates: Churches are being charged with the sky-scraping interest rates than it is actually required. Church financing payments can be phenomenally reduced if the payments are restricted to prime plus 1% or less than that. As a result, long-term church loan as well as decrease in overall payment will improve the church cash flow considerably.

For more detail log on to www.church-financing.com. Church Financing is a church loan division of Griffin Capital Funding offers church financing and loans with no personal guarantees, favorable rates and good terms.

We recognized as one of the nation’s largest and most well respected Church financing companies. We provide financing, loans, mortgage for Churches.

Financing Religious Use Property – Churches are Businesses Which Also Need Financing

Financing Religious Use Property – Churches are Businesses Which Also Need Financing

Financing Houses of God

Church lending can be intimidating even to the most seasoned loan officer or loan originator. However, financing a church and its dreams are not too difficult to master. The church loan or loan for religious use are not ordinary by any stretch of the imagination. Yet they can be rewarding and you can even make some money in the process.

Lending Fears

There are a few basic fears that keep most from lending on Churches.

Foreclosure. Foreclosing on a ‘House of God’ and ridding a community of it’s place of worship turns a majority of lenders off from the get go (not us, we love church loans).

Single Use-Special Use Property Type.The uniqueness of most church properties is another turn off for most lenders. What do you do with a building that has a steeple, choir loft, stained glass, naives, aspy’s, altars, pews for 300? What kind of resale market is there? How long will it take to sell? What if grounds also contain a cemetery? Now what?

Qualifying. Churches are not-for-profit organizations. So, they don’t have tax returns nor do they have traditional methods of determining income for qualifying. So, again most lenders will steer away from anything that is not traditional.

Lending is simple on Churches

When lending on a church the first criteria is to determine the denomination. Yep, denomination. Reason being that not all loan programs will lend to just any denomination. A statistic I picked up from the US State Department, is that there are 565 organized and recognized religions in the world. From mainstream to off beat, they exist. Since loan funds are derived from various sources or pools of funds, it is important to match the correct denomination with the correct sources. For example, you wouldn’t want to seek financing for a Temple or Shrine from a Christian Pastoral Retirement Trust Fund. These practices are not congruent in their belief systems with each other. The end game may be the same for all, however the path and practices to get there are very different and can be offensive to each other.

The next item is responsibility for the proposed loan. You need to determine if personal guarantees are going to be an issue with the religious organization. If not, you have just openned the door for sources to finance the church. However, over 85% of the time personal guarantees will be a big deal to the church and the sources that want the guarantee are out of the picture.

The third issue is banking business requirements. Some sources require the church to move most or all of its banking business to the institution that is writing the loan. About 50% of Churches don’t like this covenant either.

What is the basic information that you will need?

Church Questionnaire (a form of application)

Church’s Statement of Faith

Church’s Organizational Documents with a statement of Good Standing from the state of organization

3-yrs financials (e.g. Quick Books) + YTD profit and loss

Pastor’s or Church Leader’s Resume

Use of funds letter

Authorization to Lend Letter

Evidence of tax exempt status

Color Digital Photos of church property

Primary church contact or liaison person(s)

Although there are many additional items and steps, with these basics you are well on your way of being able to professionally present a package to a lender.

Rates, Fees, Making an Income

I almost forgot these key items. Church loans current have rates in the 6.50% to 9.50% range, with fees running in the 3-6% of loan amount.  This is the norm and is most typical. I know that there are times when Church’s obtain financing outside these norms, but that has to do with hundreds of variables specific to that organization.

As far as making income–in you think you are going to be earning 2-3 pts. on the deal…Stop. Not going to happen. Church loan sources are very strict about what you can earn, so if you get 1/2 to 1 pt on the deal, be grateful. When you do a great job for a church, Pastors, Deacons, Bishops, and other leaders talk–word gets out you treat them fairly, more deals will come your way.

By the way, if you missed it, we love church loans and we’d love to be of assistance. I can be reached via cfrgroup@att.net or visit our web site at www.mycommerciallendingpro.com

 

Gregg S Cochran, President of CFR Mortgage Group, Inc. a wholesale commercial lender based in Tustin, CA.

Church Financing Loans with Low Recourse Loans

Church Financing Loans with Low Recourse Loans

Financing, Loans and Commercial Finance for Churches at Church-Financing.com.

Nearly all Churches necessitate the need of a commercial real estate financing. The financial sources for real and substantial estate includes: Regional banks, Private investors, Insurance companies, Saving and Loan institutions and Mortgage banking firms. First let’s touch on the obstacles that occur during the process of acquiring the church mortgage loans & church financing.

The Major Church Financing Difficulties:
(1) Church properties are unique and so, for this reason Lenders have a great apprehension regarding this matter because if the loans are not paid within a stipulated time, Lenders will be accounted for it. They have to assume ownership of the property. Owing to unique property features, it is not going to be easy to come across a new owner.
(2) For getting the hold of church loans, Lenders often entail the need of “personal guarantors” especially on account of prior observation with reference to the complexities that are involved in selling the church property again.
(3) When the church financing needs are attained, there are many objectionable terms that get exist. Such as: Minute amount of loans, low loan-to-value (LTV) of 50% to 60%, short-period time of loans and rates of high interest. By this, churches get many possibilities to face the countless financial difficulties.
(4) More than Purchasing and/or Refinancing, Church Financing, Church Construction Loans, Church Renovation and Land acquisition loans are considered as more intricate to deal with. Therefore, needed repairs are delayed for an indefinite period and new churches take lots of years to become a reality.

The Practical Solutions for the Problems which have been Issued above are:
(1) High LTV: High LTV of 75% to 85% would generate a realistic amount of about 15% to 25% that can be utilized for the purpose of down payment or non-financed portion in refinancing.(2) Long-term loans: To make the church financing more successful, rather than short-term, church financing should be of a long term, i.e. up to at least time period of 30 years.
(3) Non-Recourse Loans: Being reluctant towards individual guarantors fetches a non-traditional church lender. And than through this approach, church lending will no more rely on individual guarantors for the church financing.(4) Large sum of Loan: Ability to accommodate large church loan needs, at least of 0,000. This move would than persuade churches to finish their most business financing in one stage rather than by going through many stages.
(5) Low interest rates: Churches are being charged with the sky-scraping interest rates than it is actually required. Church financing payments can be phenomenally reduced if the payments are restricted to prime plus 1% or less than that. As a result, long-term church loan as well as decrease in overall payment will improve the church cash flow considerably.

For more detail log on to www.church-financing.com. Church Financing is a church loan division of Griffin Capital Funding offers church financing and loans with no personal guarantees, favorable rates and good terms.

Church-Financing.com is an recognized as one of the nation’s largest and most well respected Church financing companies. We provide financing, loans, mortgage for Churches.