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Church Loans and church financing with no guarantees.
Church Loans and church financing with no guarantees.
If you are looking for a loan your bank is unwilling to offer
(such as a 90% mortgage with a 30 year fixed rate) you may want to look outside the bank.
Traditional bankers have a working knowledge of the products that their bank may offer,
but a mortgage consultant specializing in automotive properties will be aware of any niche
products for your industry and can sometimes offer terms much more favorable than
your local bank.
There are steps you can take to minimize your interest rate risk.
You could first deal with a lender that specializes in automotive properties.
There are many lenders that do not require the full “relationship” that the bank requires.
In bankers speak, relationship = your deposits.
As long as you are aware of the time to complete the necessary due diligence and
the loan to value guidelines associated with automotive properties,
financing them can be almost as simple as other commercial property types.
You may also want to try to find a loan that is fixed for the life of the loan.
If this is a product that you want, or if you want to put down less than
what is typically required, it would make sense to contact a lender or mortgage consultant
that specializes in automotive properties.
For more details log on to www.churchloans.info
Church financing and church loans with no balloons or personal guarantees for
church construction, refinances, religious loans, church lending, real estate
purchases and renovation programs virginia USA.
About the Author: Church financing and church loans with no balloons or personal guarantees for
church construction, refinances, religious loans, church lending, real estate
purchases and renovation programs virginia USA.
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