Loans carry a 20-year amortization and maturity (no balloon payment).
The rate is annually adjustable, being based on our internal cost of funds rather than a national index such as the "Prime Lending Rate." We also offer three- and five-year fixed rate options. After a fixed rate period ends, the interest rate is subject to annual adjustment.
Loans are secured by a first lien on the subject property and/or other collateral.
Your ministry can receive a discounted loan rate through ADF's self-funding program.
In addition to our standard loan product description above, Orchard Alliance offers a couple products with unique loan terms, which may provide a better fit for some borrowers.
The Fixed Payment Loan allows the borrower to fix their monthly payment for the first ten years of the loan based on the initial interest rate and a 20-year amortization.
The SUN Loan provides the borrower with an unsecured and more streamlined financing option for borrow amounts up to $100,000.