Mortgage Loans

Financing a loan either to purchase or secure property is a major undertaking. LCEF understands your organization's desire to serve people in His name, yet the need to be fiscally responsible. We will help you through the process with care and professionalism, always keeping the mission at the heart of our work together.

Types of loans:

• Secured (new and refinances): Usually written for a 20-year term.
• Specialized Ministry Loans: Written at an interest rate of LCEF's cost of funds for a term of five years with monthly payments based upon a maximum 20-year term.
• Unsecured: Written up to $100,000 for a term of up to 15 years. A $350 loan fee will apply for loans of more than $50,000 and $300 for $50,000 or less.
• Jump Start: For the purpose of providing "seed dollars" to support a new ministry program or to expand an existing ministry program (e.g., staff person for Evangelism Outreach or Director of Youth Ministry.) The interest rate will be the prevailing rate.
• Soft Cost: To provide "working capital" for preconstruction-related costs (e.g., architect/design and engineering fees, market studies, capital pledge campaign expenses, and special assessments). The interest rate will be the prevailing rate.
• Parsonage/Housing: Written to church on behalf of pastor/teacher.
• Loan fee of 1% of new money, up to maximum of $7,500.

Contact your District Vice President early in the application process. They are a valuable resource and your local representative in the process. After your loan is established, you will have a loan officer and/or escrow officer assisting you at each step of the loan process and ongoing support after closing from friendly loan servicing staff.

Complete loan application.

If you have questions, you may contact us or see the frequently asked questions.