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Rostered Church Worker Home Equity Loans

Use Your Home’s Equity for Major Purchases Or Debt Consolidation

LCEF’s Home Equity Loan Program is designed to lend personal financial assistance to LCMS ordained and commissioned ministers. A home equity loan allows a borrower to use the equity in his/her home as collateral for a loan. Our home equity loans offer competitive and fixed interest rates that allow borrowers to consolidate bills into one monthly payment.

RCW Housing Loan Program Affected by Legislation

The passing of the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (also known as the SAFE Act) has caused changes to LCEF’s rostered church worker (RCW) residential and home equity loan program. Previously LCEF offered RCW housing loans in 43 states; because of the new regulations, excessive requirements, and increased fees to the organization, LCEF identified those states from which the most loan requests were made. In the nine-year history of the housing loan program, 80% of the volume has been generated in 16 states. We still plan to examine the feasibility of expanding beyond those states, but effective Nov. 15, 2009, LCEF will only be able to accept residential loan applications in 16 states. (At this time, this does not impact the consolidation loan program and the 47 states in that program.) Read more details about the changes.

Before submitting your application, please view the NEW list of states in which LCEF is able to provide home equity RCW loans.

About RCW Home Equity Loans
Benefits

LCEF’s Home Equity Loan Program is designed to lend personal financial assistance to LCMS ordained and commissioned ministers (on active or emeritus status), allowing them to effectively focus on their calling—witnessing and teaching the Gospel of Jesus Christ to others.

A home equity loan is a financial product that allows a borrower to use the equity in his/her home as collateral for a loan.

Homeowners often use the money from home equity loans to pay off higher-interest debt, purchase an automobile, make large-scale home improvements, pay tuition, or for other major purchases.

Before submitting your application, view the NEW list of states in which LCEF is able to provide RCW home equity loans.

*Check with your tax advisor.
  • Fixed rates, so monthly payments remain the same for a specific period of time
  • Competitive interest rates (often lower than credit cards and other consumer loans).
  • Interest payments may be tax deductible.*
  • Ability to consolidate several bills into one single payment.
  • Friendly, knowledgeable loan officers.
  • Internet and automated telephone access to loan information.
  • Program participants receive the “ministry dividend.” Investments at LCEF earn a competitive interest rate, and these invested dollars also help further the Lord’s work. Your true investment is in helping others—just as they are helping you.
RCW Home Equity Loan Forms
RCW Home Equity Loan Brochures

Credit Report Authorization and Release

Rostered Church Worker Home Equity Loan Application

Search our literature rack for additional forms.

Rostered Church Worker Home Equity Loan Program Brochure

Search our literature rack for additional brochures.
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Have a question?
Contact LCEF directly, or call the Lutheran Church Extension Fund at 1-800-843-5233, 7:45 a.m. - 4:15 p.m., CT, Monday through Friday if you have any questions or requests.