Church Loan with Longer Term Fixed Rates
Many churches come to us in search of a church loan with longer term fixed rates. Most church loans carry a 5-year term, then they need to be either paid in full or refinanced. To complicate matters, lenders do not always want to renew church loans for a variety of reasons. So, church leaders find themselves shopping for new church refinance regularly.
Luckily, many churches find their way to us. Griffin Capital Funding offers a variety of church loan programs. We have church loans with longer term fixed rates. For churches with excellent credit and who meet the qualifications, we can provide up to 30-year fixed rate church loans with no balloons. If 30-year fixed loans are too long for your church, we also offer 10, 15, 20 and 25 year fixed church loans.
Here are some recent church loan closings with longer terms:
Church Loan for Construction in West Palm Beach, FL:
This church came to us seeking a $3.8 million-dollar church loan with longer term fixed rates. They had plans to build an educational building on their property. They just needed the final piece of their plans which was a mortgage that they would not have to worry about refinancing. We were able to provide a 25-year fixed rate, so they do not have to worry about refinancing.
Church Loan to Refinance in Johnstown, CO:
A 20-year-old church came to Griffin Capital to refinance their mortgage. They had been to their bank and were offered a 5-year fixed loan but were not happy with that option. They wanted to find a church loan with a longer fixed rate, at least a 15-year fixed term. Their loan officer got to work and not only provided what they were looking for but exceeded their expectations. He provided a new loan with a 20-year fixed rate for their $1m dollar loan.
Church Loan to Renovate in Ft Pierce, FL:
We just closed a loan for a church in Ft. Pierce, FL who had been in their building for 55 years. They needed to bring new life to their building as well as bring it up to current codes. We were able to provide a 10-year fixed rate with a 25-year amortization to make the upgrades. This allows the church to be worry free with rising interest rates.
If your church is interested in learning more about our loan programs with longer fixed-term rates, please call 800-710-6762 to speak to a loan officer.