LCEF is pleased to offer home purchase and refinance loans to ordained and commissioned LCMS Rostered Church Workers (RCWs) on active or emeritus status. Find out if you qualify as a RCW here. Prior to applying for a Residential 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.
Residential Loan program participants receive and give the “ministry dividend.” We ask that you also invest with LCEF in order to 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.
See all loan rates.
RCW mortgage loan rates are subject to change daily.
All interest rates on 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 Adjustable Rate Mortgage (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.
LCEF offers a Well-Qualified Mortgage Loan program available for the purchase or refinance of a home. Applicants must be active or emeritus status RCWs, meet specific underwriting guidelines and have a minimum 20% down payment (maximum 80% LTV) using non-borrowed funds. RCW mortgage loan rates are subject to change daily.
Residential Loan applications are accepted from:
* Specific state regulations are applicable in Arizona, Iowa, and Wisconsin. Call 800-843-5233 for details.
** All cash-out refinances and straight refinances in excess of 80% loan-to-value are not available in Texas.
Yes. The interest rate will not increase or decrease more than 3.5% 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.
LCEF requires at least a 5% down payment in addition to enough funds to cover closing costs. We also do not require private mortgage insurance (PMI), which is required by most lenders if a 20% down payment is not obtained. A 20% down payment using non-borrowed funds is required for the fixed rate Rostered Church Workers Well-Qualified Buyer loan program.
LoanCare Servicing Center for access to existing Rostered Church Worker Residential Loans.
Click here to download the application
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.