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Our Expertise
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Call
Loan
Department
Directly:
800-815-1175
ext 135 |
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Church Financing Evaluation |
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To apply for a mortgage loan with American Church Mortgage Company, the following must be submitted to us:
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| Financials |
Financial statements of the church’s last three fiscal years and current period (if available) including income statements and balance sheets. |
| Appraisal |
Estimated appraisal value of the property to be mortgaged to secure the financing. If an appraisal is not available, we will consider the “book value” or other indicators as part of our preliminary evaluation. |
| Use of Proceeds |
Itemized list of the intended use of the requested loan proceeds. |
| History |
A brief history of the church including date of origin, denominational affiliation, if any, and adult membership and attendance figures. |
| Resume |
A brief resume or biography of the church’s senior pastor. |
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| Project |
A brief description of the proposed construction or renovation project (if applicable). |
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| Loan to Value |
Loan amount should not exceed 75% of the value of the church property as completed. |
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| Loan Size |
Loan amount should normally not exceed three times the church’s last fiscal year’s total support and revenue. |
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| Ability to Repay |
The church must demonstrate the ability during its preceding two fiscal periods to comfortably repay the anticipated mortgage loan. |
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| Construction |
In renovation or construction projects, the church must engage an independent general contractor under a firm fixed-price contract. |
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| Non-Profit Corporation |
Our loans are available exclusively to those organizations deemed "non-profit" organizations by the Internal Revenue Service, such as churches and schools. |
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