Church Mortgage Rate
While your church is setting its budget for 2018 and evaluating year-end goals, do not forget that it is not too late to refinance and save money. Lowering your church mortgage rate would be a great way to start the new year. Call us to see if we can help your church. We are a nationwide company that specializes in church loans. We have many products available that your bank may not.
Can you believe that 2017 is almost over? It has been a busy year at Griffin Capital Funding, and we feel like the year just started. While your church is setting its budget for 2018 and evaluating your year-end goals, do not forget that it is not too late to refinance and save money. Lowering your church mortgage rate would be a great way to start the new year. It can save your church thousands and free up some much-needed money for more important church matters.
Lowering your church mortgage rate would be a great way to start the new year.
There are two big reasons for churches to refinance now:
First: Church mortgages are commercial loans that typically balloon every 5 years, so they need to be renewed. This is the nature of the loans industry-wide. If your renewal date is in the next year, start the process now. This is especially important if your church is tired of being trapped in a higher church mortgage rate. We offer many different church loan products including 30 year fully fixed church loans.
We just closed a loan for a church in Norfolk, VA that had a mortgage carrying a 7% church mortgage rate. They were tired of paying such a high church mortgage rate and came to us. We refinanced their loan saving them 2%.
Second: We have been warning churches of rising interest rates for several months. The interest rate trend in 2018 will continue to climb. So, any church with an upcoming balloon would be wise to start the refinance process. This will secure a lower church mortgage rate based on today’s market. It could be costly to churches that wait and create unexpected expense changes to your budget next year.
Call us at 800-710-6762 to see if we can help your church by lowering your church mortgage rate. We have programs for churches with good or bad credit. We also have loan programs available for up to a 30 year fixed rate.