PHONE (865) 428-6995         FAX (865) 429-2391

     EMAIL: BUDDY DUFAU

If your congregation is planning on building another church, adding another building, or refinancing please contact us. We have lenders who specialize in church loans nationwide and can offer customized programs to suit the present and future needs of the congregations. The following briefly describes and outlines the programs we can offer.

• Maximum of 75% loan to value with the land & existing real estate used as 25% of the equity.
• Up to 30 years amortization
• There is a fixed interest rate for the term of the loan. There are optional interest only payments for the first year. Over the next 4 years it will gradually increase.
• Closing cost can be rolled in to the loan
• Maximum  debt to income ratio is 33%
• Church must be a 501c-3 non-profit organization, 3 years minimum with a 3 year history of tithes/offerings
• Phase I environmental required
• Non-recourse to borrower or members in the congregation which means no personal guarantees are required
• Bond issues can be handled to finance projects with no obligation to the church members to purchase the bonds.
• Open end mortgage allowing additional borrowing at current rate without refinancing existing debt.
• No pre-payment penalties
• Minimum project is 150,000
• The programs we offer are very competitive with local banks and offer services they may not be able to handle. We would like to have the opportunity to discuss any of your future projects. Please feel free to contact me any time.
[Buddy Dufau]

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