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dwylie
40 Posts |
 Posted - 02/13/2007 : 06:44:49 AM
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I'm looking for a construction loan for a church. I don't have very much info on this yet, beyond 3.1M, established church in California, and they have raised $2M of their own funds.
Who can do this? I'm also going to need help with what to ask for up front!!
Thanks! |
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RandREnterprise
725 Posts |
Posted - 02/13/2007 : 08:39:11 AM
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| I have a very good church lender that I have been using for many years. They only do churches! Call my office to discuss the qualifications and what documents they will need to look at your loan. |
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flmortgagedr
286 Posts |
Posted - 02/13/2007 : 11:18:44 AM
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my network of over 50 commercial funding sources which I broker for - NATIONWIDE - could be just what you need for such a deal.....
i am working on multiple church deals right now..... i enjoy helping out congregations!... all loans are different.... but you just have to know who to talk to about each one!
contact me asap so we can get this taken care of! |
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ChurchBroker
52 Posts |
Posted - 02/17/2007 : 1:39:13 PM
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In response to your post; my partner and I exclusively broker church loans from hard money through bonded funds and would very much enjoy the opportunity to assist you in securing funding for your customer. We have strong relationships with several lenders already in place and can expedite the process in both efficiency and accuracy.
Please contact me at your earliest convenience.
We look forward to hearing from you,
Christopher Farrell
Sanctuary Lending
Direct - 407.744.6529
Fax - 407.574.5671
or my partner's info
Chris Sanders
Sanctuary Lending
Direct - 708.366.8956
Fax - 708.405.1559
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ccbank
1652 Posts |
Posted - 02/17/2007 : 8:42:38 PM
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| We are a direct lender, NOT A BROKER, Call me on this deal. We lend to church organizations |
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faithlenders
5 Posts |
Posted - 02/28/2007 : 10:59:11 AM
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| Hello my name is Rick Music and I'm with Faith Lenders www.faithlenders.com and we specialize in Church lending. Please check out out Website and for further information I can be contacted directly at (586)445-2751 or e-mail rickmusic@faithlenders.com. We can get you the money needed for your expansion! |
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ccbank
1652 Posts |
Posted - 02/28/2007 : 11:21:28 AM
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| wasn't this posted like two weeks ago? Still shopping it around. |
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Money4u
1756 Posts |
Posted - 02/28/2007 : 12:32:23 PM
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We would be interested. Direct, Private Lender.
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dwylie
40 Posts |
Posted - 03/01/2007 : 07:35:45 AM
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Yes, it was posted a while back. Now I have a little more info to shop it and the heat is on!
Here's the scoop:
Sacramento Area, CA
Church rehab loan
3.1M w/ 2M of their own funds
No current mortgage on property (since 1910)
2005 income $905,147, 2006 income $923,299...includes all income from members and investments. Giving from members is always approx $800K, parking garage generates approx $72K. There are 260 giving units that pledge and many others that give but do not pledge. Get this...they always give away 22% of their income to community causes!
They are hoping to have everything paid in full in 3 yrs, but would like something fixed for at least 5. They have been offered some very aggressive quotes:
Construction loan 8.25% adj (10 yr Treas) w/ .5 pt
Take out loan 6.14% w/ 1 pt, no PP
Please feel free to contact me directly if you think this is something that can be beat. I can get more info if we think that we can be competitive.
Thanks so much!
Dana Wylie
916-966-3554
Dana@RosettaEquity.com
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dwylie
40 Posts |
Posted - 03/01/2007 : 07:37:10 AM
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| Oh yeah...property is approx 8000sq ft and is probably worth at least 10M. |
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dwylie
40 Posts |
Posted - 03/01/2007 : 08:06:21 AM
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| I think that they probably will take the deal that they have now...but it's not from me, so I'm on a mission to try to beat it. |
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Keeysturn
410 Posts |
Posted - 03/01/2007 : 1:37:11 PM
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Dana,
Do you know who offered this deal to your customer?
Rosalind |
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dwylie
40 Posts |
Posted - 03/01/2007 : 1:42:20 PM
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Yes on the permanent financing...ELCA. Apparently, they're a Lutheran organization.
quote:
Originally posted by Keeysturn
Dana,
Do you know who offered this deal to your customer?
Rosalind
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RandREnterprise
725 Posts |
Posted - 03/02/2007 : 04:49:22 AM
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| Dana, I cannot remember if I talked to you about this deal or not. But, as you see, I was the first to respond to your post. I see you are still trying to beat what your client was quoted by some other lender. If we have not talked, you should call. |
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