At CFR, we've created a loan underwriting process that’s straightforward and easy to understand. Our proven methods and strategies have allowed us to fund hundreds of projects-without unnecessary hassles and red tape. We'll provide upfront consultation and analyze your objectives so we can formulate the best funding solution possible for your church's needs.
We offer both fixed rate and variable rate loans. You are never charged a pre-payment penalty. A portion of the interest is used toward planting churches.
Types of Loans
A term loan is designed for property purchases and refinances. Your collateral is a first mortgage on the church property and amortizations can be up to twenty years.
Construction loans are designed for new construction projects and renovations. Your collateral is a first mortgage on the church property. You will pay interest only during construction, after which the loan converts to a term loan.
Line of Credit
These are designed for special projects. Your collateral is a first or second mortgage on the church property.
How to Apply: Loan
- Complete the Loan Checklist
- Mail the completed forms to CFR
- The CFR loan committee reviews the submitted information and determines approval
- If the loan is approved, CFR mails you the loan commitment letter within approximately one week
- Sign your commitment letter and return to CFR with any additional documentation
- CFR orders the title work and preparation documents
- CFR schedules the closing