Sanford Levings

"Hi, I’m Sanford Levings, President of MinistryCFO and author of this blog. The purpose of our blog is to share with you information and insights that we gather from working with and listening to our clients and partners, located throughout the country." read more

Save by Refinancing Your Church Mortgage Loan

Don’t Miss the Opportunity for Substantial Savings!

Rates are at an all-time low, and if churches are not investigating lower interest rate financing, then they are, arguably, not being good stewards of their financial resources.


Since May 2011, one of our clients has been paying interest on their mortgage loan at a rate of 5.5%.  The principal balance of the loan is $6,400,000.

We recently re-negotiated the interest rate down to 4.125%.  Do you realize the annual savings this church is receiving?   Our client is saving $88,000 a year in interest expense!

We currently have several clients who are prime candidates for debt refinancing. But first, we must get their financial statements in order. Bankers are known for meticulously scrutinizing financial statements, as they rightfully should do.

One issue we often find during transitions is that the client ‘s mortgage loan principal balance does not reconcile with the principal balance per the records of the lending bank. That’s a big no-no! That has to be corrected prior to seeking re-financing from the banks. If a bank realizes that the mortgage loan balance on the church’s books does not equal the principal balance on the bank’s records, then the bank loses all trust in the financial statements of the church.


MinistryCFO finds ways to save your money.  Let the MinistryCFO team prepare your financial statements for loan refinancing, talk to your bank and other banks. We might be able to provide you with substantial savings on interest expense.

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