AG Financial Solutions

Yes. Thorough our Partners in Construction (PiC) program, AG Loan Solutions can provide professional consultation in the planning, design, construction and funding of new or remodeled church facilities. In summary, this innovative program can assist churches in better estimating and managing construction costs and even provides on-site review and monitoring of the project from design through completion and occupancy.

With a construction loan, the total loan amount is approved at closing and all the documentation is prepared and signed at closing. The church can then borrow as much as is needed during the construction phase by requesting draws from our office.  At the end of each month, the church is billed only for the interest on the amount that has been drawn to date.  In some instances, it may be necessary for our Construction Consultant to periodically visit the site, to determine and advise if the project is on budget, and to keep abreast of the progress.  When construction is completed, the construction loan is converted to a permanent loan with regular monthly payments.

Necessary information includes a completed Schedule of Values form (firm cost estimate with specific line items for cost overruns and contingencies), architectural drawings, a floor plan with elevations, and other documentation as requested.

AG Loan Solutions will be glad to assist with the next project, provided that all qualifications are met.

If your next phase of construction begins within 12 months, no fee is charged on any refinance. You will have to pay fees only on the new money borrowed (plus escrow, title insurance, etc.).

That would depend on the specific situation, but a second loan may be possible as long as AG Loan Solutions holds a first mortgage on the property.