Program Summary: “We can make that happen!”

We provide real estate loans for churches and ministries of Converge. We have been financing churches for more than 66 years and have had the pleasure of funding over 1000 different church projects and purchases.

What makes a Cornerstone loan different?

We understand churches. We focus on what we do best, and our experience with church lending allows us to offer the best products tailored specifically for churches.
We commit to the entire term of the loan. Our loan terms range from 10 to 20 years, and once the loan closes, we commit to holding that loan for the entire term. Most banks often commit to shorter terms (3-7 years) and then charge additional documentation or closing fees to renew the loan once their term has ended.
No prepayment penalties. While we do commit to the full life of the loan if your church wants to pay the loan off early be our guest. We want what’s best for you and your ministry.

Loan Guidelines

We set the rates and terms for our loans on a case by case basis taking into account the ministry’s growth trends and cash flow, as well as the project’s loan to value (LTV) ratio. We generally issue loans on a 20-year term with a 3-year rate adjustment, which means the loan rate may adjust every 3 years based on our cost of funds. Loans for unimproved land are limited to 50% LTV and a 10-year term. Construction Loans are interest-only during the build phase and the rates adjust each month. The loan automatically converts to an end loan upon the project’s completion, and the rate is set at that time. We may assess a rate surcharge on the loan during the construction period.

First Steps

We know you are eager to get started, and we are eager to partner with your ministry. If you are ready to get started, so are we; please complete the inquiry form, and let’s get started.

If you already have a church mortgage and would like to know how much Cornerstone Fund can save your church, take 90 seconds, and request a personalized refinance proposal here.

Churches ready to apply can download the application and required forms by clicking here.