Church Sanctuary Purchase
We have been busy helping churches from coast to coast purchase their first sanctuary!
Buying a new sanctuary can be an exciting and scary process, especially for first time purchasers. Many churches come to us for our expertise, as we have been helping churches since 1999. We help guide every church through this big decision. We understand their unique church sanctuary purchase requirements and need to move at their pace.
Church Sanctuary Purchase | Griffin Capital’s Experiences:
We just closed a couple of church sanctuary purchases for two completely different situations.
The first church determined that they would need a larger sanctuary due to a healthy growth pattern. They started planning their church sanctuary purchase several years ago and ran a capital campaign. They wanted to keep their monthly payment low, so they put down 25% and we provided the other 75%. They have moved into their larger sanctuary and now have plenty of room for additional growth.
The second church came upon a situation that they could not turn away from. A perfect sanctuary came available that was in a good location and would provide them room to grow and offered improved facilities. The only hitch; they did not have time to save for the purchase and did not have a lot of money available. The seller was eager to leave the property and offered a second trust loan to make up the shortfall of the church’s down payment. Many lenders will not allow second trust loans, but our solution happily included the second trust. This allowed the buying church to put down less money and close the loan to purchase their home.
If your church is thinking about purchasing a first home or a new home, then the time to start is now. Interest rates have been climbing, so the longer that you wait to begin the higher your interest rate will be for your church sanctuary purchase.
For more information on our nationwide church loan programs, call us at 800-710-6762.