Refinancing Church Loan
Summer is winding down, children are going back to school, and the air is starting to get a little cooler at night. Soon, churches will be planning and finalizing their budgets for next year. It is time to make the financial decisions that took a backburner to summer.
Do your church’s plans involve purchasing a new building, constructing an addition, renovating your current property, or simply refinancing your church loan to save money? Griffin Capital Funding has great rates and terms to help your church meet its goals.
Refinancing church loans is a major concern across the country right now due to climbing interest rates. This is especially true if your church loan will balloon between now and 2022. Starting the process now will lock your church into a lower interest rate. This simple act will save you money over the life of your loan.
Refinancing Church Loan in Indianapolis, IN:
We recently closed a refinance church loan in Indianapolis, Indiana. The church wanted to lower their interest rate to save money for the long term. We were able to lower their interest rate by 3.5%.
Ballooning Refinance Church Loan in Toledo, OH:
This church was already paying a high-interest rate. If they failed to refinance before their loan balloon date, their rate would jump to an astounding 10%. They were running out of time and found us. We closed their loan in plenty of time and saved them money in the process.
Major Renovations for a Refinance Church Loan in Indiana:
Another church in Indiana refinanced their loan for a lower rate. They also requested cash out equity for major renovations to their building. Their home needed a complete overhaul including HVAC, parking lot repaving, and carpeting in the entire building. Rather than run a capital campaign for the needed repairs, they decided to cash out now to obtain a lower interest rate. Once they complete their repairs, they will run a campaign to pay down the loan.
If you are interested in learning more about financing your church, give us a call at 800-710-6762. We can evaluate your needs at no cost and let you know how we can help.