Ministries are in a special position to take advantage of low interest rates on a fixed rate church loan. If you’re a church leader with growing congregation in California, or elsewhere, and in need of more space, or if you’re looking to start a school on your church property, securing a fixed rate, low interest church loan in California, or outside the state, is easy with BDM.
BDM is a California based Church Loan lender who has served the faith-based community since 1992. Unlike traditional lending institutions that may require extensive documentation, we base our lending qualification on the equity of your property. That makes funding a church mortgage with BDM an easy and fast process. We work exclusively with churches and understand that your priority is serving your congregation. So why put yourself and your members through the stress of trying to qualify with a big bank?
Our funding partners include a rich and diversified portfolio of private investors including individuals, pension funds, IRAs and profit sharing trusts. It’s this unique diversification of partners that allow us to select our mortgagees based on our own terms, not shareholder interests like traditional lenders. And because we work to satisfy our private investors, not public shareholders, funding a church loan with BDM takes mere weeks not months.
Best of all BDM doesn’t require personal guarantees from your board members and we don’t run credit reports on any member of your religious congregation. Our qualifying benchmark is based on the equity of your property. That is part of what makes obtaining a church mortgage from us so easy! For our churches, including those outside of California, loans are usually made within 2 – 3 weeks of the application. Once we establish the value and equity of your church property and the title search is clear, we can determine whether or not your church will qualify for a loan.
Does your church property need to be located in California? Absolutely not! BDM funds church loans across the country. We are a California based lender, however we have mortgagees located throughout the United States. We encourage any congregation looking for a new mortgage to contact us for a quote.
Does your religious institution have an existing mortgage with less than desirable terms? If so we can help. Let BDM take your variable rate, balloon payment and turn it into a fixed rate loan with 1 to 20 year terms. So whether your church is looking for a long-term solution such as a fully amortized loan with payments over 20 years, or if you’re looking for a smaller loan and terms as short as one year, BDM has answers that will work for your church loan.
Whatever you’re looking for we can help. Did we mention that we don’t charge a prepayment penalty? It’s true, pay your church’s loan off in as little time as you want, you won’t be penalized.
We’re flexible. BDM is willing to work with your church to find the best solution for your lending needs. We can arrange loans with interest only or amortized payments. And BDM can fund loans over one million, or as little as a few thousand, let us provide your church with a mortgage solution that works for you.
Ready to take the next step? Check out our Church Loan Requirement Checklist and contact a helpful loan representative to apply.
