1 / 12

North Pointe Baptist Church Edmond, Oklahoma

North Pointe Baptist Church Edmond, Oklahoma. Jerry Vaughan Senior Vice President. Serving the Church. A goal of The Baptist Foundation of Oklahoma is to serve the church through wise stewardship. We strive to help the church borrow wisely.

fonda
Download Presentation

North Pointe Baptist Church Edmond, Oklahoma

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. North Pointe Baptist ChurchEdmond, Oklahoma Jerry Vaughan Senior Vice President

  2. Serving the Church A goal of The Baptist Foundation of Oklahoma is to serve the church through wise stewardship. We strive to help the church borrow wisely. We benefit the church by being a resource that strengthens Southern Baptist ministries…today and tomorrow!

  3. Benefits to Your Church During the “Construction Phase” the interest rate will be at the Construction Rate, the 1 year adjustable rate, currently 4.25% with interest only payments based on the outstanding principal balance.

  4. Benefits to Your Church When the loan converts to the “Permanent Financing Phase” at the conclusion of construction, the interest rate will change to the adjustable interest rate chosen by the church and established at loan closing. This rate will remain in effect until the next adjustment date. Future Additional Advance clause available with BFOK loans to churches.

  5. Benefits to the Kingdom We are committed to building Southern Baptist ministries. To that end, ALL interest paid on a loan with the Foundation is distributed to Kingdom causes.

  6. What does that mean to you? It means that ALL interest dollars you pay will strengthen and help grow Southern Baptist ministries across the state and around the world…today and tomorrow!

  7. Ministry to Kingdom Causes Churches & Other SBC Entities All Others BGCO OBHC BVC Oklahoma Baptist University

  8. How Does the BFOK Determine a Church’s Maximum Loan Amount? Payments cannot exceed 25% of the average budget receipts for the previous two years. • Total annual payments ÷ Average budget receipts

  9. What This Means for You Debt Service: 2010 $607,008 2011 $631,218 Total $1,238,226 $619,113 average $1,995,932 for 20 years @ 4.75% = $12,898.18/monthly or $154,778.16/annually $154,778.16 ÷ $619,113 = 25.00% $1,995,932 + $417,385 (uncollected pledges) = $2,417,317 Within the 25% limit

  10. What This Means for You Collateral Values: Loan amount cannot exceed 50% of the fair market value of the property taken as collateral. • Loan amount ÷ Fair market value

  11. What This Means for You Collateral Valuation: $4,900,000 Fair Market Value after construction $2,400,000 ÷ $4,900,000 = 40.73% Within the 50% loan to value limit

  12. Jerry Vaughan Senior Vice President

More Related