Burning a Church Mortgage Early is Cause for Celebration
An accelerated loan payment plan on a church mortgage is great way to teach wise stewardship. On a $1,500,000, 30-year fixed rate mortgage at 4.5%, you will pay the bank more than $1,236,104.70 in interest by the end of your loan term! Applying principal-only payments will decrease the loan balance to which the interest is applied thereby shortening the term and decreasing the overall cost of your church. Save $216,445 and pay off your mortgage almost 6 years early by enrolling in the The Mortgage Eraser Toolkit for Churches.
Amount: $1,500,000 at 4.5%
Payoff: 30 yearsTotal Cost: $2,730,105
The Mortgage Eraser Toolkit for Churches
Our MORTGAGE ERASER TOOLKIT FOR CHURCHES system includes the enrollment of one mortgage loan: This plan will triple your equity. Erase 7,10,15 years or more off their loan's term. With our Preferred Biweekly System*, the interest saved is enormous. This plan will also lower your net effective interest rate up to 33% or more. Most importantly, BWMA performs regular audits to ensure accuracy and lender accountability. Be a Good Steward - Why pay your lender more than necessary?