2018 is off to a great start for churches that want to save money! We are continuing our initiative to warn churches of rising interest rates. As a reminder, on December 14th the government raised interest rates for the third time in 2017. Predictions indicate that in 2018, it will climb 3 more times. This makes it important to fulfill any church lending now, before interest rates continue to rise.
Church lending in 2017, reached $130mm in closed loans for Griffin Church Loans. This includes finances, purchases, renovations and construction projects all over the country.
Church Lending | Griffin’s Experiences
Our most recent refinances have been in Indiana, Connecticut, and Maryland. Each of these churches received a lower interest rate than they currently had. They also locked into today’s interest rate in the process. They are saving significant money all the way around. In West Haven, CT, our church lending products were used for a church that had 2 needs. They needed to refinance and pull out cash to repair their parking lot. We lowered their interest rate by 1.75% and got them the money needed for the repairs.
Predictions indicate that in 2018, interest rates will climb 3 more times. This makes it important to fulfill any church lending now, before interest rates continue to rise.
Griffin Church Loans works with churches nationwide. We are not restricted to a particular market, so our church lending programs are very likely available to your church. This includes loans with fixed interest rates for up to 30 years. We closed a loan in Glenn Dale, MD for a church that received a 10 year fixed rate. We lowered their interest rate by 1.5 %, so they are saving thousands annually. As a bonus, they do not need to worry about interest rates or refinancing for another 10 years.
We want to ensure that every church that will need church lending in the next year starts now. React before interest rates climb more. Your church may need to refinance before a balloon or your church already has a high-interest rate. Maybe your church plans to build, renovate, or buy. Whatever the reason, the time to start the church lending process is now before it costs your church more money. Call us today -(800) 710-6762 to find out if the time is right for your church.