Church Loan in CA

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Jonas

512 Posts

Posted - 06/12/2008 : 2:59:07 PM

Respond with contact info if your company can do these. I'm building a database and have a prospective deal.

dnuex2

2990 Posts

Posted - 06/12/2008 : 3:15:51 PM

Bank of West
http://www.bankofthewest.com/BOW/main.jsp?ChId=33c4d0ae92adef00VgnVCM10000087c35c92____

ahoshmand

44 Posts

Posted - 06/12/2008 : 3:57:23 PM

Hi Jonas,

If you are unable to get the loan done conventionally, Stonecrest does church financing in California, through our private capital fund. We are an equity based lender, doing max 60% refis on churches or single-use properties. We offer fixed term loans & lines of credit, rates from 10.5-12% depending on the final ltv and organization strength. This is on an IO 5yr fixed/2yr ppp or a 3yr fixed/1yr ppp. We typically charge origination of 3-4 pts.

To evaluate a church deal, we need to see:
-Articles of Incorporation
-Corporation Bylaws & Signers
-Summary or Mission Statement
-Membership information
-Any available financials & schedule of real estate (if other properties are owned by the non-profit)
-bank stmts/asset information

Financials & assets aren't necessary, since we are technically "stated," but will help secure better pricing. Our loan decision is primarily on the property value, with monthly support and tithings a close second.

ccbank

1320 Posts

Posted - 06/12/2008 : 4:46:39 PM

We do church loans.

markapex

346 Posts

Posted - 06/13/2008 : 05:50:38 AM

We do church loans to a max LTV of 60% and a max loan of $400,000.

Apex Mortgage is a commercial mortgage portfolio lender owned by First Trust Bank, FDIC. We are a small balance lender doing loans from $25,000 to $750,000 in 43 states. Our terms run to 25 years, fixed or ARM with no balloons or lock-outs. We offer brokers the ability to earn 2 points in YSP.

While we are happy to work with high credit score borrowers, most of our deals are in the 575 to 660 credit score range.

Ask about our new Prime Rate ARM program.

We underwrite, process, close and service all of our loans. We never send files out to another company for any reason.

Mark Langman
Apex Mortgage
800-262-2739, ext. 221
215-283-8885 fax
mlangman@apexmtg.com
www.apexmtg.com

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