General Church Loan Guidelines Project Types Church Refinancing & Debt Consolidations New Construction (Up to 24 Months, Interest only)  Land and Facility Acquisitions Major Renovation Projects Interim Church Financing Ministry Visa or Lines of Credit Ministry Vehicles   Product Offerings Loan Size - from $100,000 to $50,000,000 Term Structure - 3, 5, 7 & 10 Year Fixed Rates Interest Only Loans - Up to 3 years (On a case-by-case basis) Loan Amortization Period - Up to 30 Years Loan-To-Value (LTV) - Generally 70% with the ability to go to 75% if other risk mitigating factors exist. However, unlike many lenders, we are able to fund off of the appraised value of a property, not the purchase price and we can utilize seller financing behind the 1st mortgage. This can be of tremendous value to a ministry wishing to purchase existing facilities. Max LTV on raw land – generally 50%, but can go to 65% in certain instances (On a case-by-case basis). Minimum Debt Coverage; 1 to 1.05 - If Income and Attendance Trends are Positive Max Debt to Income Ratio: 35% of Income. Debt Payments cannot exceed 35% of Revenues. Church must be in operation for at least 3 years and have stable or increasing income and attendance trends. Church must have at least 75 attendees. Prepayment Penalties - None for Internally Generated Principal Reduction Payments.  There may be a prepayment penalty of 0.25% to 1.00% (depending upon loan size and loan term) for externally generated refinances. Rate (pricing) Structure - Fixed Rate Loans - 3, 5, 7 or 10 years - priced to corresponding CMT + 325bp to 500bp dependent upon Loan Size, Loan Term and Risk Tier Rating. No Personal Guarantees - Unlike many lenders, we do not require any personal guarantees from the pastors, members, elders or board members, further enabling ministry leaders to concentrate on ministry endeavors.