More and more, commercial lenders are realizing that churches make appealing borrowers – and often, local banks will offer interest rates that look particularly attractive. At the Cornerstone Fund, we believe we’ve done our job well when churches obtain the best financing program available that meets their needs.

compare_200aComparing Loans

Traditional lenders often impose a range of fees and requirements that, once calculated into the overall cost of borrowing, reveal an effective interest rate that is higher than originally anticipated. When evaluating a loan from another lender, be sure to consider the range of associated costs you may incur.

Fee Cornerstone Local Lender
Application fee

None

____________________
Phase I Environmental Study

None

____________________
Loan points*

None

____________________
Survey

None

____________________
Document preparation fee

None

____________________
Legal review fee

None

____________________
Other fees

None

____________________

 

* These costs may be identified as loan points, discount fees, or loan origination fees.

You can download the Cornerstone Fund Mortgage Compare Worksheet here.