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FINANCING

This information is intended for illustration purposes only and is subject to change. The sample terms and guidelines of our underwriting criteria are also subject to change.

UNDERWRITING CRITERIA

  • Minimum loan of $500,000

  • First lien mortgages only

  • Loan to value (LTV) of up to 70%

  • Minimum average Sunday morning worship
    attendance of 200 adults

  • Maximum loan of up to 3.0 times recurring gross income

  • Monthly payment should not exceed 30% of recurring gross income

 

 

FINANCING TERMS

  • 1 to 5 year fixed rate mortgage

 

 

AMORTIZATION TERMS

  • Up to 25 year fully amortizing

  • 30 year amortization
    (only available as a 10 year balloon)

  • 1 to 5 year fixed rate mortgage

 

 

HOW TO APPLY FOR A LOAN

 Feel free to contact a loan officer via email:

DON F. GLENN  /  SCOTT C. NICKSON

or call 800.692.1111

 

MORTGAGE LOAN DOCUMENTS


 

  IMPORTANT Please fill out the First Contact Summary before spending the time and effort in filling out the entire application. This will save you a lot of time.
 
  FIRST CONTACT SUMMARY

Fill out the summary online, save it to your computer and email to us when ready:

  LOAN APPLICATION

Fill out the application online, save it to your computer and email to us when ready:

  SUPPORTING
DOCUMENTS
  • Appraisal
     

    • Short form will be acceptable for the initial review.

    • Please submit pictures.
       

  • Financial Statements
     

    • Year-to-date.

    • Prior 3 years.

    • Special contributions and fund drives should be listed separately.
       

  • Purpose of the loan.
     

  • Church History.
     

  • Any special or unusual conditions concerning the loan request.