Lease-Purchase Financing Option
The lease-purchase program available to churches is a great option for a church that is currently renting and looking to build a new facility, but is having trouble obtaining financing to do so.
The basic idea of this program is to allow a church to begin construction on a new facility without paying for the loan until the new building is complete (preventing the church from paying rent at the current facility while also making payments on the construction loan). After the completion of the new facility, the church will move into that building under a lease agreement with the option to purchase within 3 years.
This program is perfect for churches looking to build as soon as possible, as well as newer churches that may not be able to obtain the financing for a conventional church loan.
For more information about the church lease-purchase program, check out this article.