BUILDING LOAN REFINANCE UPDATE - october 2019

The debt on the church property is refinanced every five years and that took place over the past month. Our original debt five years ago was $1,800,000. This past month the remaining balance of $774,777 was refinanced at the current rate of 5.5%. Our monthly payment is $6,332 and is amortized over 15 years. These terms will be fixed until August, 2024. At the current rate of giving towards the retirement of the debt, it will take about three years and ten months to pay the remaining balance. We appreciate all who have given sacrificially over the past five years and encourage everyone to participate in however God leads you to help eliminate this debt. 


Building update


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