Church Qualifies for 25 Year Fixed Rate Loan | Griffin’s Success
Church qualifies for 25 year fixed rate loan after finances were carefully analyzed by Griffin Capital Funding. Whether church mortgage or church purchase, Griffin Capital Funding always finds the best financing options for its clients.
Griffin Capital Funding closed a loan for a church in Denver, Colorado that was ready to purchase a sanctuary and move out of their leased space. The church had strong leadership through their pastor who had been with the church since its inception in 2008 and an active membership of 251 people. Their rapid growth was the precursor to finding a new church home.
The church searched and found the perfect property for their congregation. The property that they chose came with land that included a cell tower with a long-term lease to a major carrier. There is also a multi-use building on the property which can be used for church functions or could be rented out for events to help generate income for the church.
When all of these factors were analyzed by Griffin Capital Funding’s Senior Vice President, Mike Brewer, he was able to offer a church mortgage that was fixed for 25 years. Mike Brewer commented that “We were able to offer the church a product that mimics a residential mortgage in that it is a fixed rate for the term of the loan. This is very uncommon in the commercial world. The church was happy, the pastor was happy, and the church can move forward and grow without worrying about an impending balloon in their future.”
The church received a 25 year fixed rate loan with no balloon and has settled into their new home. It is important to point out that this is a fixed rate loan for the church and not a bond issue. We have church loan products that are long-term and fixed like bonds but without the large upfront costs and fees of church bonds.
If your church needs financing please contact one of our loan officers to get the process started. Griffin Capital Funding can be reached by visiting Griffin Church Loans or calling (800) 710-6762.