LOANS Residential Loans 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 map below to verify that you reside in a state where this loan is available.
HELPFUL DOCUMENTS APPLY NOW

Availability by State

Mouse over the state for details about the Rostered Church Worker mortgage loan program in which you are looking to purchase or refinance in.

* Arizona– Specific state regulations apply. Please call and speak with a licensed loan originator today for details (800) 843-5233.
* Texas– Specific state regulations apply. All cash out refinances and straight refinances in excess of 80% loan-to-value are not available.
Please call (800) 843-5233 for details!

The RCW Mortgage Loan Program offers adjustable and fixed rate options and is available for the purchase or refinance of a home. Applicants must be active or emeritus status and meet specific underwriting guidelines.

Benefits & Features

  • Competitive interest rates
  • As low as 5% minimum down payment obligation for purchase loans (up to 95% Loan-to-Value for refinances)
  • No private mortgage insurance (PMI) required
  • Friendly, knowledgeable loan officers
  • Online and automated telephone access to loan information

Residential Loan Rates

October 2020
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.
Purchase: 20% down payment
Refinance: 80% LTV
30-year fixed rate3.250%3.290% *
Purchase: 20% down payment
Refinance: 80% LTV
15-year fixed rate3.000%3.165% **
Purchase: 10% down payment
Refinance: 90% LTV
7-year ARM rate3.000% - 3.500%3.090% - 3.590% *
Purchase: 10% down payment
Refinance: 90% LTV
10-year ARM rate3.125% - 3.625%3.215% - 3.718% *
Purchase: 10% down payment
Refinance: 90% LTV
15-year fixed rate3.250% - 3.750%3.416% - 3.918% **
Purchase: 10% down payment
Refinance: 90% LTV
30-year fixed rate3.500% - 4.000%3.590% - 4.095% *
Purchase: 5% down payment
Refinance: 95% LTV
7-year ARM rate3.250% - 3.750%3.341% - 3.844% *
Purchase: 5% down payment
Refinance: 95% LTV
10-year ARM rate3.375% - 3.875%3.467% - 3.971% *
`Purchase: 5% down payment
Refinance: 95% LTV
15-year fixed rate3.500% - 4.000%3.670% - 4.169% **
`Purchase: 5% down payment
Refinance: 95% LTV
30-year fixed rate3.750% - 4.250%3.840% - 4.346% *

See all loan rates.

RCW mortgage loan rates are subject to change daily.

Effective March 2, 2020, unless otherwise disclosed to existing loan customers, all interest rate adjustments on ARM loans are based on the One Year Constant Maturity Index.

The 7-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. For the 7-year ARM, the interest rate will never increase or decrease more that 4.0% from the initial rate during the term of the loan. For the 10-year ARM, the interest rate will never increase or decrease more than 5.0% from the initial rate during the term of the loan. In addition, each change frequency (occurring each year) will not allow more than a 2.0% increase or decrease from the previous rate. APR= Annual Percentage Rate. The APR is a uniform measurement of the cost of a loan, including interest and financed costs of closing, expressed as a yearly percentage 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.