Church
Lending Criteria
Alliance, through our
diverse network of Lending Partners, offers Church Loans
from $250,000 to $10 Million and more on a case by case
basis. Please see below for some of our Basic Loan Criteria.
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Basic Criteria |
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Minimum
Loan Amount: |
$250,000 |
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Maximum
Loan Amount: |
Based on
the Church's Income - usually 3 to 3 1/2 times
Income |
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Acceptable Loan Purposes: |
Refinance, Renovation, Construction or New Purchase |
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Locations: |
Nationwide |
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Maximum
Loan to Value: |
80%
Maximum |
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Minimum
Congregation Size: |
150
Contributing Members |
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Loan
Terms: |
Varies -
Alliance will let you know what Rates and Terms are
available to you after reviewing the Complete
Application Package |
|
Loan
Rates: |
Alliance
offers very Competitive Rates on all Church Loans.
We will be able to advise you on what Rate and Terms
are available to you after reviewing the Complete
Application Package |
|
Loan
Fees: |
$0.00 Application Fee / Review Fee
$1500.00 Processing Fee*
Commercial Loan Fee - 1 - 3% of the Final Loan
Amount.**
*Processing Fee is not due until the Loan Package
has been reviewed and we feel we should be able to
assist you with your Loan Request.
**The
Commercial Loan Fee will be disclosed to you in a
Commercial Fee and Engagement Letter after we have
reviewed the Completed Loan Package. The Commercial
Fee and Engagement Letter is only issued if we feel
we should be able to assist you with your Loan
Request. |
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Third
Party Fees: |
Third
Party Fees include but are not limited to any Fees
for Third Party Reports the Investor deems necessary
(example - Appraisal Fee, Survey, Environmental
Reports etc...)
You will
be required to put up a deposit for these fees with
the Investor once a Letter of Intent or Letter of
Interest has been issued. The exact amount of that
deposit will be disclosed to you in the Letter of
Intent or Letter of Interest. |
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Please keep
in mind these are basic guidelines and are subject to change
at any time. All information pertaining to your loan
application will be provided to you in writing once we have
received a Completed Loan Application Package and determined
that we should be able to assist you with your Loan Request.
In addition
to the above Guidelines Alliance has a few Private Investors
who also offer Church Loans for Churches that may not meet
the above guidelines or may be experiencing a Financial
Hardship
These loans are called Hard Money
Loans and carry higher interest rates as well as higher
closing costs. If you think you might need a Hard Money Loan
please fill out our online inquiry
and an Alliance Representative will contact you to discuss
your options.