Church Mortgage Refinance Stories - Griffin Church Loans

Church Mortgage Refinance

Fall is here, and we are still seeing a strong trend in refinancing church mortgages. Many churches are finishing up their fiscal year, and they are looking at their budgets for 2019. Maybe these churches want to finish the year strong, maybe they want to go into 2019 saving money, or maybe they have a ballooning loan. No matter their reason, help as many as we can. It is our goal to help put every church that comes to us in a better financial position.

church mortgage refinance

Here are a few examples of our latest church mortgage refinances. All of them are saving thousands over the term of their new loans:

Church Mortgage Refinance to save money in Suffolk, VA:

This church wanted to accomplish two goals: lower their interest rate and get a long-term fixed rate loan. The combination would save them money and allow them to pay off their loan faster. We were able to do both by lowering their interest more than 2%, and we provided a 15-year fixed term.

Church Mortgage Refinance for a cornered church in Winston-Salem, NC:

This church came to us because their loan was sold out from under them. As a result, their interest rate jumped to 7.5% and the loan was coming due. If not paid off their rate would climb even more as the new note holder did not want to renew the loan. They did not know where to turn until they found us! We were able to provide a 10-year fixed rate loan with a 25-year amortization and lower their interest rate by 3%.

Church Mortgage Refinance for a ballooning loanin Hartford CT:

We had the opportunity to help a church with a ballooning loan at 9.5% interest rate. They were running out of time, so they needed to find a new lender quickly. They also wanted to make some renovations to their facility, so they required some cash out as well. We were able to lower their rate by 4% and provide the money needed to complete their renovations.

Church Mortgage Refinance for a bond loan in Newark, NJ:

This church had bond financing that they wanted to refinance to a traditional loan. The church was unhappy that their bond did not allow them to make additional payments to pay down the balance.  Their bond also had compound interest feature which made the paying down their loan balance slower than a traditional loan. We were able to give them to a simple interest loan and lowered their interest by 2% in the process.


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