LCEF Home Equity Loans are available to qualified Rostered Church Workers (RCWs) for home improvements or other personal needs. Find out if you are a RCW. Prior to applying for a Home Equity Loan from LCEF, please check the list at the end of this page to verify that you reside in a state where this loan is available.
Home Equity Loan program participants receive and give the “ministry dividend.” We ask that you also invest with LCEF in order to help us help other RCWs in the future. Your true investment is in helping others—just as others have helped you!
To see information regarding LCEF’s federal and state licensing, please visit the State Disclosure page.
LCEF Home Equity Loans allow borrowers to pay off high-interest debt, purchase an automobile, make large-scale home improvements, pay tuition or make other major purchases. We offer competitive and fixed interest rates that allow borrowers to consolidate bills into one monthly payment.
See all loan rates.
Interest rates are based on the borrower’s credit rating, how many of the underwriting guidelines are met and the term of the loan.
APR = Annual Percentage Rate. The Annual Percentage Rate is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage rate.
Home Equity Loan applications are accepted from:
* Specific state regulations are applicable. Call 800-843-5233 between 7 a.m. to 6 p.m. (CT) Monday through Friday for details.
All LCEF home equity loans are fixed-rate mortgages with a one-time disbursement. We currently do not offer a home equity line of credit (HELOC).
LCEF offers home equity loans from $5,000 up to $100,000. LCEF can fund a home equity loan up to 95% loan to value (LTV) with approved credit. To calculate the LTV ratio, the current market value of the home is multiplied by 0.95. This amount equals the available loan amount. Then, all amounts owed on any outstanding mortgage(s) are subtracted. The amount remaining is available for a home equity loan from LCEF.
For example, if a house with a market value of $100,000 has an outstanding mortgage of $40,000, then with approved credit, the homeowner could obtain an LCEF home equity loan for up to $55,000 ($100,000 x 0.95 = $95,000 – $40,000 = $55,000).
Borrowers are also responsible for appropriate closing costs, including but not limited to: credit report expenses, title insurance premiums, appraisal fees, title company closing fees, and applicable transfer taxes and attorney fees.
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As a consultant for Capital Funding Services (CFS), Randy enjoys assisting the Lord’s people in experiencing the joys of generosity. He is a firm believer in the Scriptural truth that “whoever sows bountifully will also reap bountifully” (2 Corinthians 9:6). He says, “Stewardship is simply reflecting the image of our generous God, who has blessed us in Christ with every spiritual blessing.” His leadership has encouraged his congregation to provide generous support for ministries locally, regionally, nationally and internationally.
Randy has been a parish pastor for 35 years. For the past 28 years, he has been serving First Immanuel Lutheran Church, Cedarburg, Wisconsin. Leading a large congregation has enabled him to experience six capital campaigns, allowing him to provide great insights to pastors in capital campaigns and stewardship.
Randy has served Concordia University Wisconsin as an adjunct professor of theology for 26 years. In 2010, the university awarded him the honor of “Distinguished Alumnus.” He has also served 12 years on the South Wisconsin District Board of Directors, including six years as Board Chair and First Vice President of the district. He conducts seminars on generosity and provides encounters for parish pastors to discuss cultural issues and the church’s impact.
Randy resides in Cedarburg, Wisconsin, with his wife, Diana, who is the South Wisconsin District’s Lutheran Church Extension Fund’s District Vice President. They have two married daughters and three granddaughters. Randy’s mission statement is to serve God by serving others.