LCEF offers loans for churches and individuals who qualify as Rostered Church Workers (RCWs). Find out if you qualify as a RCW here.
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.