LCEF - RCW Residential Loans (Purchasing/Refinancing)

LUTHERAN CHURCH EXTENSION FUND

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Rostered Church Worker Residential Loans (Purchasing/Refinancing)

Low Down Payment and No PMI

LCEF is proud to offer its Residential Loan Program to LCMS rostered church workers. This program offers LCMS ordained and commissioned ministers a housing loan option with competitive interest rates, a low down payment requirement, and no PMI. Minimizing the financial burden allows church workers to focus more time on their ministries and families.

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. LCEF will examine the feasibility of expanding beyond those states, but at this time, we will only be able to accept residential loan applications in 16 states. (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 list of states in which LCEF is able to provide residential RCW loans.

About RCW Residential Loans		Benefits
In response to the request of the Synod and as approved at the 1998 LCMS Convention, LCEF offers its Residential Loan Program to LCMS ordained and commissioned ministers (on active or emeritus status). This program is meant to be another housing loan option when searching for a residence. Before submitting your application, please view the NEW list of states in which LCEF is able to provide RCW residential loans.		Competitive interest rates. Lower down payment obligations. No private mortgage insurance (PMI) required. 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 Residential Loans Forms		RCW Residential Loans Brochures
Credit Report Authorization and Release Rostered Church Worker Residential Loan Application Search our literature rack for additional forms.		Rostered Church Worker Residential Loan "HUD's Settlement Cost Booklet" Rostered Church Worker Residential Loan Consumer Handbook on Adjustable Rate Mortgages Search our literature rack for additional brochures.

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.