Saturday, March 26, 2011

Church Loans

Loan Program # 1

Territory           National
Amount            $250k – $20M
LTV                 80%
INT                 3 / 25 7.25 PPP 1 yr Pts 1
                      5 / 25 7.45 PPP 2 yr Pts 1
                      7 / 25 8.15 PPP 3 yr Pts 1
                     10 / 25 8.45 PPP 5 yr Pts 1
PPP                No
No                 Application Fee


Loan              Program # 2

TRTY             National
AMNT            $500k – $10M
LTV               70%
INT               5 / 30 5.625 – 7.875 (then ext 5 years)
PTS               1
PPP               5 / 4 / 3 / 2 / 1

No up front fees. After Commitment Letter issued, then
wants 1/10 of 1% for fee.


Loan Program # 3

TRTY          Nationwide
AMNT         $500k minimum
LTV            80%
INT            1 yr ARM 15 / 20 amortization – 2 / 6 caps Prime + .5
                 5 yr ARM 15 / 20 amortization – 2/ 6 caps Prime + 1.5
PPP            None


Loan Program # 4

TRTY          National
AMNT         $50k – no max
LTV            Up to 90%
INT             5 / 25 5.25
                  10 / 25 5.85
                  20 / 20 6.9
PTS             1 – 3
PPP             Varies with length of term

Church must be in business at least 3 years
Purchase, refinance, renovation, construction