With climbing interest rates, we have been placing a lot of our focus on church refinances. Seeking funding now is equally important for church purchase loans. Church growth is on the rise. For churches projecting a move in the next few years, the time to act may be now. Your church can lock into a lower interest rate and save thousands over the term of a mortgage.
Any church that predicts a funding need should act now and lock into lower interest rates
Let us revisit our recent interest rate warnings. In December, the government raised interest rates for the third time in 2017. Predictions indicate that in 2018, the interest rate will climb 3 more times. What does this mean for church growth over the next few years? Simply put, any church that predicts a funding need should act now and lock into lower interest rates.
Why work with Griffin Church Loans to secure your purchase loan? Griffin Church Loans works with churches across the country. We are not restricted to a particular market, so our programs are very likely available to your church. This includes loans with fixed interest rates for up to 30 years. Furthermore, we will make the financing portion of your purchase easy and you can focus on your church growth.
We just closed a church purchase loan in Wheaton, IL. They had outgrown their building and decided to move closer to their downtown area. This would serve two purposes: a bigger building and a new area to pull even more members for continued church growth.
We also closed a purchase loan in Glen Burnie, MD. The 49-year-old church had been in the same location since inception. This move was a big decision for the leadership, but it was also crucial for church growth. Their pews were full, and they needed the perfect larger location to house their congregation. They found it 1.4 miles from their current home, so they had to act.
If either of these churches had waited to move, it could have cost them much more in interest alone.
If your church sees a move on the horizon, call us. We can help determine if the time is right for your church to purchase its new home.