New Loan Rates, New Muzzy Loan Limit

New Loan Rates

New Muzzy Loan Limit

Effective March 1st, 2011, all Amortized and Line of Credit loan interest rates were lowered by 1/4%. The benchmark interest rate for our Amortized loan is now 6.250%, Line of Credit loans are at 6.500%. But don't forget you could also qualify for a discount of up to 3/4% based on your church's mission giving history. 

New Muzzy loans have a benchmark interest rate of 5.250% but again, could be discounted as low as 4.500%, depending on your Mission Giving discount. This change will not effect current Muzzy loans, unless they are due for review at this time.  

The loan limit for New Muzzy loans has also been increased as of March 1st from $125,000 to $250,000.00

Loan applications may be found under the loan section of the Synod website or for more information, please contact the Synod's Loan Coordinator at 1(800) 754-0669 ext.10...If you're a small congregation (under 125 members), New Church Development, or Racial Ethnic Ministry, looking for financing of a project, please drop the Synod's Loan Coordinator an email