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Organizational Mortgage Loans
LCEF is Your Lending Partner!
We offer construction and permanent loans to new and existing congregations, schools, recognized service organizations, and partner churches around the world. For your next building project, partner with LCEF. We have loan dollars and ministry-focused services available to help the church as it seeks to fulfill God’s mission.
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- Secured (new and refinances): Usually written for a 20-year term.
- Specialized Ministry Loans: The LCEF Loan Committee, in consultation with the district, considers all loan requests. Loans are written at an interest rate of LCEF’s cost of funds for a term of five years with monthly payments based upon a maximum 20-year term.
- Unsecured: Written in an amount of up to $100,000 for a term of up to 15 years. A $350 loan fee will apply for loans of more than $50,000 and $300 for $50,000 or less.
- Jump Start: For the purpose of providing “seed dollars” to support a new ministry program or to expand an existing ministry program, e.g., staff person for Evangelism Outreach or Director of Youth Ministry. The interest rate charged will be the prevailing rate.
- Soft Cost: To provide “working capital” for preconstruction-related costs, e.g., architect/design and engineering fees, market studies, capital pledge campaign expenses, and special assessments. The interest rate charged will be the prevailing rate.
- Parsonage/Housing: Written to church on behalf of pastor/teacher.
- Loan fee of 1 percent of new money up to maximum of $7,500.
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- Complete loan application.
- Review application for complete and accurate information, including important dates, property information, contact person, etc.
- Locate “Articles of Incorporation” of borrower.
- Does survey of the land exist?
- Forward any existing title work with loan application.
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