Church Mortgage Refinancing | Griffin's Experiences

Church Mortgage Refinancing | Griffin’s Experiences

It is important for every church to feel financially secure. Church Mortgage RefinancingEvery church that we help has its own unique story and reason for church mortgage refinancing.

Even though they all have their own situation, many times there is an all too familiar theme:

  • Owner financing that has come due;
  • Ballooning loan that a bank will not renew;
  • A church is simply trapped in a high-interest rate, are a few examples.

In recent weeks, we have closed loans for churches in all three of these scenarios. Church mortgage refinancing is of great significance right now because interest rates are climbing. For churches facing a challenge, it is especially critical.

Church Mortgage Refinancing | Griffin’s Experiences

Case-1:

In Aurora, CO, we helped a church that had accepted an owner financed loan that came with a 7% interest rate. This is well above the current interest rates. Many churches accept owner financing because they cannot find a traditional lender that will fund them. Owner financing can be a quick fix to their problems but it also has risks. For example, when the loan comes due, if the church cannot pay the balance due the owner can foreclose. We encourage any church in this situation to refinance with us and regain control of their financial future. Luckily, this church reached out to us before their loan ballooned. We handled their church mortgage refinancing and lowered their interest rate by 2.5%.

Case-2:

In Houston, TX, a church reached out to us when their loan had ballooned and their lender would not renew their note. This is every church’s nightmare situation, and we help churches facing this all over the country. It is important for any church in this situation to act fast. Do not spend months applying to multiple lenders that may not approve your church mortgage refinancing. The clock is ticking and if you waste time, your only option will be a high-interest rate with a short-term before another balloon.

Case-3:

A church in Durham, NC contacted us for their church mortgage refinance. The church was trapped in a high-interest rate. They wanted to refinance in order to save money and pay their loan off faster. We helped them refinance to save 3%. We also got the church a 7 year fixed rate rather than the traditional 5 year fixed rate. This secured their rate to give them more time to pay off the loan.

It is important for every church to feel financially secure. If your church has doubts about your current financing, then give us a call. We will listen to your church’s situation and help you decide on the best financial solution for your church mortgage refinance.

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Church Mortgage Refinancing | Griffin's Experiences
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Church Mortgage Refinancing | Griffin's Experiences
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Every church that we help has its own unique story and reason for church mortgage refinancing. It is important for every church to feel financially secure!
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Griffin Capital Funding
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