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Loan Rates
LCEF Offers Competitive Interest Rates for Low-Cost Loans
Below is a current list of interest rates offered by LCEF—the loan source for LCMS and helping to support the LCMS ministry.
| New Mission Starts (First 5 years) (New Loans Approved Effective 02/01/2008) |
4.875% |
|
| Congregational Loans (New Loans Approved Effective 02/01/2008) |
Monthly, Quarterly, or Annually adjustable |
5.250% |
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5 Year fixed rate balloon, 2% prepayment penalty
(subject to availability of funds)
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5.750% |
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10 Year fixed rate balloon, 2% prepayment penalty
(subject to availability of funds) |
6.375% |
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| Specialized Ministries |
3.250% |
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| RCW Home Equity Loans |
APR = Annual Percentage Rate. The Annual Percentage Rate is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage rate.
|
Loan Term up to 5 Years, Fixed Rate |
4.750% - 5.250% |
APR Range* 5.240% - 5.745% |
Loan Term 6-10 Years, Fixed Rate |
5.750% - 6.250% |
APR Range* 6.014% - 6.517% |
Loan Term 11-15 Years, Fixed Rate |
6.750% - 7.250% |
APR Range* 6.942% - 7.440% |
| RCW Residential Loans |
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All interest rates on ARM loans are based on the LCEF current cost of funds |
3.250% |
3.250% |
To learn how LCEF calculates cost of funds, click here.
The 5 Year Adjustable Rate Mortgage (ARM) and 10 Year ARM loan products are variable rate loans and the interest rate may increase after consummation of the loan. The interest rate will never increase or decrease more than 3.5% from the initial rate during the term of the loan. In addition, each change frequency (occurring each year or every five years) will not allow more than a 2.5% increase or decrease from the previous rate.
APR = Annual Percentage Rate. The Annual Percentage Rate is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage rate.
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10% down payment |
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4.625% - 5.125% |
APR Range** 4.724% - 5.256% |
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4.875% - 5.375% |
APR Range** 4.975% - 5.478% |
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4.875% - 5.375% |
APR Range*** 5.048% - 5.550% |
5% down payment |
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4.875% - 5.375% |
APR Range** 4.975% - 5.478% |
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5.125% - 5.625% |
APR Range** 5.256% - 5.730% |
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5.125% - 5.625% |
APR Range*** 5.300% - 5.802% |
| RCW Consolidation Loans |
APR = Annual Percentage Rate. The Annual Percentage Rate is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage rate.
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1 Year to 7 Year Terms, Adjusted Annually |
6.250% - 8.250% |
APR Range**** 6.555% - 8.563% |
* APR is based on a $50,000 mortgage amortized over the maximum term allowed with no origination fee.
** APR is based on a $150,000 mortgage at the initial rate listed, 360 monthly payments. Rate includes 0.5% origination fee.
*** APR is based on a $150,000 mortgage at the interest rate listed, 180 monthly payments. Rate includes 0.5% origination fee.
**** APR is based on a $25,000 loan amount at the initial interest rate listed, 84 month term.
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