Lutheran Church Extension Fund
Lutheran Church Extension Fund
Loans
Loan Rates

LCEF offers competitive interest rates for low-cost loans to rostered church workers and LCMS organizations. Below are the most current rates.

Loan Rates

View loan rates for

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New Mission Starts (First 5 years)    Rate   
New Mission Starts (First 5 years) 4.375%
(New Loans Approved Effective 04/01/2010)
 
Congregational Loans    Rate   
Monthly, Quarterly, or Annually adjustable 4.750%
5 Year fixed rate balloon, 2% prepayment penalty
(subject to availability of funds)
 Call for fixed rates
10 Year fixed rate balloon, 2% prepayment penalty
(subject to availability of funds)
 Call for fixed rates
(New Loans Approved Effective 04/01/2010)
 
Specialized Ministries    Rate   
Specialized Ministries 2.750%
 
RCW Home Equity Loans    Rate       APR Range   
Loan Term up to 5 Years, Fixed Rate 4.250% - 4.750% 4.740% - 5.240% *
Loan Term 6-10 Years, Fixed Rate 5.250% - 5.750% 5.512% - 6.014% *
Loan Term 11-15 Years, Fixed Rate 6.250% - 6.750% 6.439% - 6.942% *
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.
 
 
RCW Residential Loans    Rate       APR Range   
All interest rates on ARM loans are based on the LCEF current cost of funds 2.750%  
10% 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% ***
5% down payment
5 Year ARM Rate
10 Year ARM Rate
15 Year Fixed
 
4.000% - 4.500%
4.250% - 4.750%
4.250% - 4.750%
 
4.095% - 4.598% ** 
4.346% - 4.849% ** 
4.420% - 4.923% ***
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.
 
 
RCW Consolidation Loans    Rate       APR Range   
1 Year to 7 Year Terms, Adjusted Annually 5.750% - 7.750% 6.053% - 8.061% ****
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 $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.
©2011 Lutheran Church Extension Fund. All rights reserved.