Rates and Terms

  • Can we obtain a loan for longer than 20 years?

    Yes, if the circumstances warrant it. Terms can be as long as 25 years, but longer terms are discouraged because of the increased interest cost to the church over the life of the loan.

  • Can we obtain a loan with a payment schedule shorter than 20 years?

    Yes. Normally the loan documentation will still be prepared with a 20-year payment schedule, but you will be given a payment schedule to fit the shorter number of years that are requested. This way, payments can be easily lowered by stretching out to a longer term if necessary.

  • Do we have to use electronic fund transfer (EFT or ACH)?

    No, but it is strongly encouraged. ACH assures that your payment is always received in a timely manner. It also saves time, paperwork, and postage, and prevents mail delays or loss.

  • What determines your interest rates?

    We base our interest rates on general market conditions. However, we do not allow our rates to fluctuate as frequently as the market. Our cost of funds is relatively stable because of our large and committed investor base, but even so, we must follow the general market conditions to remain competitive and continue to offer quality services.

  • Do you offer a fixed rate loan?

    In the world of commercial lending, a long-term, fixed-rate mortgage product does not exist. Lenders often used the term “fixed-rate” to lure in potential borrowers when describing their short-term mortgage products. But in reality, even though the rate is fixed, it is only for a short term. Then the loan is due in full, in what is called a balloon payment. We offer long-term financing, which provides stability and flexibility that churches need. Our mortgage terms are up to 20 years, with rate adjustment periods of 1, 3, 5 or 7 years. In addition to that, we provide caps on how high your rate can rise at each adjustment and throughout the life of your loan – a guarantee you will not find with short-term mortgage products.

  • What are your current interest rates?

    Foundation Capital Resources is committed to offering competitive loan rates and flexible terms. Interest rates vary based upon loan terms and underwriting results. Please call us for a current rate quote.