Ministry Loans

Congregation Loans

October 2018
Loan TypeRate
New Start - adjustable3.750%
Specialized Ministry - adjustable2.125%
Monthly, quarterly or annually - adjustable4.125%
5- and 10-year fixed-rate balloon, 2% prepayment penalty (subject to availability of funds)Call for fixed rates

RCW Education Loan Repayment (Organization)

October 2018
Loan TermRateAPR Range
* APR is based on a $50,000 loan amount at the initial interest rate listed, 120-month term, $75 loan origination fee.
Up to 10 years - adjusted annually3.125%3.156% *

School Association Loans

October 2018
Loan TypeRate
Monthly, quarterly or annually - adjustable4.125%
5- and 10-year fixed-rate balloon, 2% prepayment penalty
(subject to availability of funds)
Call for fixed rates
 

RCW Loans

RCW Home Equity Loans

October 2018
Loan TermRateAPR Range
* APR is based on a $50,000 mortgage amortized over the maximum term allowed with no origination fee.
Up to 5 years - fixed rate4.375% - 4.875%4.866% - 5.369%
6 - 10 years - fixed rate5.375% - 5.875%5.637% - 6.140%
11 - 15 years - fixed rate6.125% - 6.625%6.313% - 6.816%

RCW Residential Loans

October 2018

Down Payment / Loan-to-Value (LTV)Loan TermRateAPR Range
*APR is based on $150,000 mortgage at the initial rate listed, 360 monthly payments. Rate includes 0.5% origination fee.
**APR is based on a $150,000 mortgage at the interest rate listed, 180 monthly payments. Rate includes 0.5% origination fee.
LCEF current cost of funds2.125%
Purchase: 20% down payment
Refinance: 80% LTV
30-year fixed rate; limited time offer for well-qualified buyers5.000%5.100% *
Purchase: 20% down payment
Refinance: 80% LTV
15-year fixed rate; limited time offer for well-qualified buyers4.500%4.672%**
Purchase: 10% down payment
Refinance: 90% LTV
5-year ARM rate4.250% - 4.750%4.346% - 4.849% *
Purchase: 10% down payment
Refinance: 90% LTV
10-year ARM rate4.500% - 5.000%4.598% - 5.101% *
Purchase: 10% down payment
Refinance: 90% LTV
15-year fixed rate4.625% - 5.125%4.797% - 5.300% **
Purchase: 5% down payment
Refinance: 95% LTV
5-year ARM rate4.500% - 5.000%4.598% - 5.101% *
Purchase: 5% down payment
Refinance: 95% LTV
10-year ARM rate4.750% - 5.250%4.849% - 5.352% *
Purchase: 5% down payment
Refinance: 95% LTV
15-year fixed rate4.875% - 5.375%5.048% - 5.550% **

Please note that RCW mortgage loan rates are subject to change daily.

All interest rates on Adjustable Rate Mortgage (ARM) loans are based on the LCEF current cost of funds. To learn how LCEF calculates cost of funds, download our helpful guide (PDF).

The 5-year ARM and 10-year ARM loan products are variable rate loans and the interest rate may increase after consummation of the loan. The interest rate will never increase or decrease more than 3.5% from the initial rate during the term of the loan. In addition, each change frequency (occurring each year or every five years) will not allow more than a 2.5% increase or decrease from the previous rate.

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.