Church Construction Loan

Construction and renovation loans for Churches and church properties are what we do. Whether your church is building a Sanctuary, Family Life Center, Parsonage or any other property for the church we have a program to help you.

We offer 3 types of construction loans for churches:

  1. Financing for Churches that already own property and want to build a new building or an addition.
  2. Financing for Churches that want to buy land and build a new building.
  3. Financing for Churches that want to buy a property that already has a building on it and build an addition to that property.

If you are looking for a traditional purchase or refinance loan for your Church please visit www.churchloans.info to get more information and to apply for financing.

To help facilitate the three loan types above, we offer loan programs that have the following highlights: (Not available in all areas)

  1. 80% of the as completed value of the property. This benefits the Church because they do not necessarily have to come up with any money to complete the construction project.
  2. No Personal Guarantees required on the loan. This benefits the Church because they do not need to worry about finding people to guarantee the loan which can be a concern for Church members.
  3. No audited financials. This benefits the Church by saving time and money. We will normally use internally prepared financials as long as they make sense.

How much can the Church borrow?

This is one of the most important questions a Church can ask. We want to help you safely maximize what you can borrow. In general a good rule of thumb is to take the churches last 12 months of gross income and multiply that number by 3 times and by 5 times and that will generally give you the low end of what the church can borrow and the high end of what the Church can borrow. As an example if a church has gross income of $250,000 per year they can probably borrow between $750,000 and $1,250,000

$250,000 x 3 = $750,000 and $250,000 x 5 = $1,250,000

Construction Completion Program:

One of the most difficult and stressful situations a Church can face is running out of money during the construction process. If your Church is in this situation we have a program that may be right for you: The “Construction Completion Program” uses liberal underwriting guidelines to help in just this situation. To learn more about the programs we offer you can complete the online application, call our office at 800-710-6762 or click on the Live Talk button if it is between the hours of 8:30am and 7pm Monday through Friday to be immediately connected to a loan officer.