Churches
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Churches
Our church financial program is designed to help all types and sizes of churches. The loan can help them acquire property, refinance notes, debt reduction, renovation, and expansion.
We offer both conventional and hard money loans for churches.
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Conventional Loan Parameters
- Interest Rate: 4.5% to 5%
- Loan Size: $500K to %25 million
- Property Type: Charter Schools, Churches, Non-Profit Organizations
- Debt Coverage Ratio: 1.4%
- Minimum Adult Attendance: 200 to 500 Adults on Sundays
- Maximum Loan: 3 times the recurring gross income
- Monthly Payment: 30% to 35% of recurring gross income
- Audited Statements: Required when the loan is over $1million
- Territory: Tier 1 Market
- Lien: First Lien Mortgage
- Loan to Value: up to 80%
- Amortization: 15 to 20 years
- Term: 3-5 years arm
- Last three years of church financial information like plate income, expense details, balance sheet, cash flow, current YTD budget, and tax statements.
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Conventional
Loan
Republic Funds offer a wide range of financing programs for churches, charter schools, and non-profit organizations. The conventional loan is suitable if you plan to purchase, renovate, construct or refinance your church.
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Hard Money Loan for Churches
A hard money loan is feasible if the church has good equity and is behind mortgage or debt payment. The program starts between 9% to 11% interest and provides immediate cash to pay the mortgage.