To Get Started

Apply online or complete the detailed residential loan application.
Review application for accuracy and completeness.
Review Consumer Handbook on Adjustable-Rate Mortgages booklet.
Review U.S. Department of HUD Settlement Cost Booklet.
If completing the detailed residential loan application, mail or fax to LCEF.

10733 Sunset Office Drive

Suite 300

St. Louis, MO 63127-1020

Fax: 314-996-1131
Call 800-843-5233 if you have any questions.

Learn more about RCW loans:

Consolidation Loans

Home Equity Loans

View Loan Rates

Useful Calculators

Mortgage Calculator

Amortizing Calculator

Comparison Calculator

LoanCare Servicing Center for access to existing Rostered Church Worker Residential Loans.

Residential Loans for Rostered Church Workers

LCEF is pleased to offer residential, consolidation and home equity loans to LCMS ordained ministers (active or emeritus status) and rostered commissioned teachers, Directors of Christian Education, Directors of Christian Outreach, etc. Before submitting your application, please view the list of states in which LCEF is able to provide residential RCW loans.

Find out here if you are a Rostered Church Worker (RCW).

Features:

Competitive interest rates.
As low as 5% minimum down payment obligations.
No private mortgage insurance (PMI) required.
Friendly, knowledgeable loan officers.
Internet and automated telephone access to loan information.

SPECIAL: For a limited time, LCEF is offering a Well-Qualified Buyer loan program is available for the purchase of a home by meeting specific underwriting guidelines and having a minimum 20% down payment using non-borrowed funds. RCW mortgage loan rates are subject to change daily.

	Rate	APR Range
Residential Rates	June 2013 Rates
All interest rates on ARM loans are based on the LCEF current cost of funds	2.250%
20% down payment 30 year fixed rate* 15 year fixed rate* *Limited time only Well-Qualified Buyer Program	3.875% 3.000%	3.969% 3.165% *
10% down payment 5 Year ARM Rate 10 Year ARM Rate 15 Year Fixed	2.875% - 3.375% 3.125% - 3.625% 3.125% - 3.625%	2.964% - 3.467% 3.290% - 3.792% 3.290% - 3.792% ***
5% down payment 5 Year ARM Rate 10 Year ARM Rate 15 Year Fixed	3.125% - 3.625% 3.375% - 3.875% 3.375% - 3.875%	3.215% - 3.718% 3.541% - 4.044% 3.541% - 4.044% ***
RCW mortgage loan rates are subject to change daily. All interest rates on ARM loans are based on the LCEF current cost of funds 2.250%. To learn how LCEF calculates cost of funds, click here. The 5 Year Adjustable Rate Mortgage (ARM) and 10 Year ARM loan products are variable rate loans and the interest rate may increase after consummation of the loan. The interest rate will never increase or decrease more than 3.5% from the initial rate during the term of the loan. In addition, each change frequency (occurring each year or every five years) will not allow more than a 2.5% increase or decrease from the previous rate.

APR = Annual Percentage Rate. The Annual Percentage Rate is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage rate.

** APR is based on a $150,000 mortgage at the initial rate listed, 360 monthly payments. Rate includes 0.5% origination fee.

*** APR is based on a $150,000 mortgage at the interest rate listed, 180 monthly payments. Rate includes 0.5% origination fee.

Applications Accepted From

Arizona *
Due to state regulatory restrictions, LCEF cannot accept any further Arizona loan applications until January 1, 2014.
California
Colorado
Florida
Illinois
Indiana
Iowa *
Kansas

Michigan
Minnesota
Missouri
Nebraska
Ohio
Texas **
Washington
Wisconsin *

* Specific state regulations are applicable in Arizona, Iowa, and Wisconsin. Call 800-843-5233 for details.

** All cash-out refinances and straight refinances in excess of 80% loan-to-value are not available in Texas.

Program participants receive and give the "ministry dividend." We ask that you also invest with LCEF (in which you earn a competitive interest rate), and these invested dollars further help us help other church workers in the future. Your true investment is in helping others—just as others have helped you.

To apply for a residential loan, Apply Online or download an application.

Review these important items:

LCEF offers residential loans in 16 states. Before submitting your application, please view the list of states in which LCEF is able to provide residential RCW loans.
The U.S. Department of Housing and Urban Development (HUD) Settlement Cost Booklet, as it includes important information to consider before buying a house.

Frequently Asked Questions

Is there a limit on how much the interest rate can be adjusted on an ARM?: Yes. The interest rate will not increase or decrease more than 3.5% during the term of the loan. In addition, each change frequency (occurring each year or every five years) will not allow more than a 2.5% increase or decrease from the previous rate.
What are down payment requirements for residential loans?: LCEF requires at least a 5% down payment in addition to enough funds to cover closing costs. We also do not require private mortgage insurance (PMI), which is required by most lenders if a 20% down payment is not obtained. A 20% down payment using non-borrowed funds is required for the fixed rate Well-Qualified Buyer loan program.