Frequently Asked Questions
Who is eligible for an AGCU real estate loan?
AGCU real estate loans are available to churches, nonprofits, 501(c)(3) organizations, and businesses. You will need to be an AGCU member to apply. If you are not already a member, you can join when you apply.
What can the loan be used for?
We can finance the purchase of an existing building, the acquisition of land for future development or expansion, and ministry facilities such as group homes, offices, and daycare centers. We also offer refinancing on existing property loans.
Can a church get a real estate loan from a credit union?
Yes. AGCU has been serving churches and ministry organizations for decades and offers real estate lending specifically designed for faith-based borrowers. We understand that churches have different financial structures than traditional businesses, and we work with you accordingly.
Can I refinance an existing church or business property loan?
Yes. If you have an existing real estate loan at a higher rate or unfavorable terms, we can help you refinance. Contact us to discuss your current loan and find out what options are available.
Can we get a loan to buy land before we are ready to build?
Yes. We offer land loans for organizations that want to secure property now and build later. This is a common option for churches and nonprofits planning future expansion.
What documents will I need to apply?
Requirements vary depending on your organization type and loan amount, but you will typically need recent financial statements, information about the property, and documentation for your organization such as articles of incorporation. Contact us and we will walk you through exactly what is needed for your situation.
How do I get started?
Call us at 866-508-2428 or send us a message online. A member of our team will follow up to discuss your goals and help you figure out the right next step.