Church Mortgage Rates
November is the month to be thankful for family, friends, and all the positive things in our lives. At Griffin Capital, we are grateful and so blessed to help all the churches that we do every year. To that end, the last quarter of 2020 is bringing lower church mortgage rates and competitive loan terms that we can all be thankful for. Put quite simply, it is the perfect time to seek church financing. We are closing many loans for churches with 7,10, 15, and 20-year fixed church mortgage rates and amortizations up to 30 years. We have been providing loans to churches for over 20 years, and we are recognized as an industry leader.
Whether you are looking to expand your current building, perhaps adding a gym or a senior center, or maybe building a church school, or possibly expanding your parking, now is a great time to take advantage of historically low mortgage rates.
2020 has been a hard year for all of us, especially with the shut downs that decreased church attendance and therefore lowered the donations and contributions which many churches and ministries expected. We understand that, and we want to be able to work with you to tackle those negative experiences that this difficult year has brought and to utilize the tools that are available to get you some amazing deals. In this time where many businesses are closing, you might be able to find property for a great deal. You may be able to build that dream project that you’ve always wanted but haven’t been able to afford. Thanks to the record-breaking mortgage rates, these tantalizing opportunities are at your fingertips.
Of course, we work with you to make sure that you’re going to be financially sound through all of this and that you’re making the wise financial choice. As we do our work specifically with churches we feel it is a moral and ethical obligation to treat your money as we would treat our own–or more importantly, we treat each penny as sacred as the widow’s mite. We know that funds come from generous donors who very often are making sacrifices to give to your church–especially in 2020–and we know that these funds are sacrosanct. We make it our mission to get you the best mortgage possible so that you can make responsible purchases with money dedicated to the furthering of your church’s ministry.
Our church financing options include loan programs for churches of all sizes with competitive church mortgage rates. For churches with excellent credit and who meet the qualifications, we can provide 30-year fixed-rate loans with no balloons. If 30-year fixed loans are too long for your church, we also offer 10, 15, 20- and 25-year fixed-rate church loans.
Griffin’s Church Loan Closing Stories
On the west coast, we just closed a church purchase loan for a church that was tired of renting their worship space. They wanted a place to call home that would also allow them to accommodate growth. They also wanted to add more services to their schedule. Additionally, they wanted extra meeting spaces for other language congregations to come and worship. They found the perfect sanctuary that had been improved and included 143 parking spaces. We closed their $3.7 million loan with a 7-year fixed church mortgage rate of 3.65% and an amortization of 20 years.
Meanwhile, in Florida, a 36-year-old church needed to refinance their current loan. They also wanted to make building improvements such as a new roof and HVAC system. With lower interest rates, they picked a wonderful time to take care of their deferred maintenance while saving money in the process. We lowered their church mortgage rate by 1.6% and provided a 15-year fixed rate in the process!
If your church or another church you know needs church financing and is interested in learning more about our loan programs, then please call 800-710-6762 to speak to a loan officer.