Lutheran Church Extension Fund

Printed date: May 16, 2012

Loan Rates for May 2012

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New Mission Starts (First 5 years)	Rate
New Mission Starts (First 5 years)	4.125%
(New Loans Approved Effective 04/01/2010)

Congregational Loans	Rate
Monthly, Quarterly, or Annually adjustable	4.500%
5 Year fixed rate balloon, 2% prepayment penalty (subject to availability of funds)	5.000%
10 Year fixed rate balloon, 2% prepayment penalty (subject to availability of funds)	5.375%
(New Loans Approved Effective 04/01/2010)

Specialized Ministries	Rate
Specialized Ministries	2.500%

RCW Home Equity Loans	Rate	APR Range
Loan Term up to 5 Years, Fixed Rate	4.000% - 4.500%	4.490% - 4.992% *
Loan Term 6-10 Years, Fixed Rate	5.000% - 5.500%	5.260% - 5.763% *
Loan Term 11-15 Years, Fixed Rate	6.000% - 6.500%	6.190% - 6.690% *
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. A list of approved and non-approved states are available here.

RCW Residential Loans	Rate	APR Range
All interest rates on ARM loans are based on the LCEF current cost of funds	2.500%
10% down payment 5 Year ARM Rate 10 Year ARM Rate 15 Year Fixed	3.500% - 4.000% 3.750% - 4.250% 3.750% - 4.250%	3.590% - 4.095% 3.844% - 4.346% 3.918% - 4.420% ***
5% down payment 5 Year ARM Rate 10 Year ARM Rate 15 Year Fixed	3.750% - 4.250% 4.000% - 4.500% 4.000% - 4.500%	3.844% - 4.346% 4.095% - 4.598% 4.169% - 4.672% ***
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. A list of approved and non-approved states are available here.

RCW Consolidation Loans	Rate	APR Range
1 Year to 7 Year Terms, Adjusted Annually	5.500% - 7.500%	5.800% - 7.810% ****
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. A list of approved and non-approved states are available here.

* APR is based on a $50,000 mortgage amortized over the maximum term allowed with no origination fee.

** 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.

**** APR is based on a $25,000 loan amount at the initial interest rate listed, 84 month term.

LCEF is a nonprofit religious organization; therefore, LCEF investments are not FDIC‐insured bank deposit accounts. This is not an offer to sell investments, nor a solicitation to buy. LCEF will offer and sell its securities only in states where authorized. The offer is made solely by LCEF's Offering Circular. Investors should carefully read the Offering Circular, which more fully describes associated risks.