Loan Solutions

The Process

Understanding the Lending Process

At AG Financial we understand the lending process can seem overwhelming. Our commitment to you is that we are here for you every step of the way. We have summarized that process into four simple steps.

Complete the Loan Survey

This is the easiest step of all. Complete the Loan Survey and your regional loan consultant will contact you shortly.

Information Gathering

In preparation for your loan, your personal loan consultant will talk with you to get a picture of your ministry and needs. They will use this information to guide you to the right loan solution for your vision. Some of the areas of information they will talk with you about are:

  • Description of church in general
  • Current weekly attendance
  • Property and estimated property values
  • Your goals and purpose for the loan
  • Current debt load

Education on the AGFS Loan Programs & Terms

After your consultant learns about you it is time to help you learn about AG Financial and its lending program and terms. Your consultant will take what they know about you and your ministry and make recommendations on what they believe is the best solution AG Financial can provide for your ministry. To better understand their recommendations they will explain:

  • General info about AGFS (source of funds, pastor’s retirement, etc.)
  • Differentiate between residential & commercial loans
  • Discuss various options/rates based on qualifications and initial costs & fees
  • Explain closing process & construction draw process
  • The terms and conditions of a loan with AGFS

Complete the Application & Submit

Now comes the fun part – it is time for you and your loan consultant to complete the loan application. This process is work, but don’t let it scare you off. Your consultant is here to help you reach your goals. They will help you every step of the way. Completing the application will require some of the following items:

  • Phone calls and site visits
  • Completion of the Consultant Workbook (Financial Summary, Collateral Summary, Consultant Summary, Preliminary Qualification)
  • Discover and address any issues, concerns and/or questions
  • Submit to Underwriting for Committee approval

The loan application process typically takes 2 to 6 months from start to finish. Upon approval of your loan request by the Loan Committee of AG Financial, your consultant will present you a letter containing the final loan amount, terms and conditions. Once you have accepted and signed this letter your loan will be scheduled for closing.