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|Church Loans Frequently Asked Questions
Some of our frequently asked questions include:
Q: How long does it take to close a church loan?
A: In general it takes between 45 and 60 days to complete a loan transaction but it can be quicker depending on a number of factors.
Some of these factors include:
1) The type of loan; refinance and purchase loans are generally quicker than construction loans.
2) The length of time it takes to complete the due diligence work like the appraisal. Some areas of the country are quicker than others.
3) How well organized the church is with their documentation and response times.
Q: What documentation will I need to provide to get a pre-approval?
A: Our process is quick and simple. To tell you whether or not we can help your church we generally need just the following documentation:
1) Our quick 1 page application.
2) Last 3 years financials plus year to date financials for the church.
Q: Do I have to pay any upfront fees?
A: There are no fees for us to analyze your loan and tell you what we can offer.