Loan Rates and Fees

Competitive Terms

Beyond competitive interest rates, CIF makes the lending process easier, simpler and more beneficial for you. All loans are Adjustable Rate Mortgages that adjust every 1, 3 or 5 years.  They are also generally classified as commercial loans and are not comparable to long-term fixed rate residential mortgages. 

Key Features: 

  • All loans have a 1/2% origination fee. This fee may be waived if CIF Campaigns & Consulting is being used as part of a capital campaign.
  • We use a 360/360-year base for calculating interest. Many lenders calculate interest on a 365/360-year base which results in 5 additional days of interest each year.
  • The interest rate is locked in for up to 5 years. For construction loans, the interest is locked even before work begins.
  • Loans are generally amortized over a 25-year period to EFCA churches. 10-year notes are available to like-minded churches.
  • There is no penalty for prepayment of principal. Additional principal pay downs can be made every month or in lump sums.
  • We offer specific loan programs for EFCA church plants and urban setting ministries.
  • We have less expensive and less restrictive appraisal requirements.
  • There are no miscellaneous documentation fees.
  • We provide the ability to re-calculate the monthly payment amount if a significant principal reduction is made, at no cost. 

Let’s start a conversation about your project or purchase. Call Brett Roehr, Chief Lending Officer, directly at 952.261.9475 or fill out a Loan Inquiry Form. We can walk through your loan needs prior to submitting a loan application.