Deal Summary:

Griffin Church Loans provided Shiva Durga Krishna Kali Mandir with a $320,000 renovation (construction completion) loan in Houston, TX 77084. Terms included 7.5% interest, a 5-year term, and 20-year amortization. The transaction was underwritten at 25% loan-to-value (LTV). Funds supported utility connections and completion work; the property is owned free and clear.

FAQ:

Q1. What is a church renovation or construction-completion loan?

A1. It’s financing used to finish critical work such as utilities, HVAC, code upgrades, and build‑out so a facility can operate fully.

Q2. Why do lenders like low loan-to-value (LTV) on renovation projects?

A2. Low LTV means the property has substantial equity, which reduces lender risk and often improves approval and terms.

Q3. Can a donor-funded project still qualify for a loan?

A3. Yes. Lenders focus on repayment capacity, reserves, and project feasibility; strong equity and stable giving can support approval.

Q4. How do churches plan for predictable payments after a renovation loan?

A4. They typically use a fixed-rate term with a long amortization to keep monthly payments stable and budget-friendly.