All loans are different and unique. Below are guidelines for all types of loan structures.
LOAN TO VALUE RATIO:
65-80% of appraised value and sometimes more with creative financing.
2.5 to 3.0 times gross revenues. (Example $250,000 gross annual revenues would qualify for a loan of $625,000 to $750,000.) Subject to economy.
MAXIMUM MONTHLY PAYMENT:
1 weeks average contribution should not exceed the monthly principal and interest payment.
Should be increasing for past 3 years. The borrower will need to provide last 3 years financial statements and year to date.
Church should be established at least 3 years and be able to show attendance growth annually.
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