FAQs

Borrowing

What are the maximum length of MCIF’s loans?

For mortgages, we offer a term of up to 20 years. Other projects, such as equipment purchases or leased-space buildout, are usually 7 years or less. MCIF will work with the church to structure a loan that is financially prudent, but fits the church’s budget.

Do you charge a lot of fees?

We keep fees as low as possible – we charge $250 for mortgage loans and $150 for equipment loans. With mortgages, we will also have some of the “normal” closing costs such as an appraisal, title insurance, recording fees, etc.

What are your interest rates?

MCIF’s loan rates are reviewed quarterly by the MCIF Board of Directors, to make sure that we are as competitive as possible. Most of our loans will have rates that are subject to adjustment every 3 years. Preferred rates will be offered to churches that are paying their regional and national assessments in a timely manner.

Will MCIF finance the entire cost of a project?

Usually we require that a church fund at least 20% of a project or equipment purchase with its own money.  This not only reduces the amount of interest the church will pay, but also ensures that the church has ownership in the project.

How does a construction loan work?

Construction loans:

  • are used for new building construction or renovation projects
  • allow the church to pay contractors or vendors as they are invoiced
  • are subject to a maximum amount and draw period determined by MCIF
  • require interest only payments during the construction period.  After the project is complete, principal and interest payments will begin, over a maximum term of 20 years

Investing

Does MCIF offer IRA certificates?

Yes, we do. To purchase an IRA certificate, you’ll need to open a self-directed IRA account with GoldStar Trust Company*. Please contact us, and we’ll help you through the process.

*GoldStar Trust Company does not perform a suitability analysis or other services provided by a licensed dealer or investment advisor.

Can I receive a check for the interest my certificate earns?

Yes. You can receive interest checks monthly or semi-annually, with a minimum investment of $10,000.

Who sets the rates for MCIF investment certificates?

The MCIF Board Of Directors reviews rates quarterly.

How much interest does my investment earn?

What you earn depends on the product you’ve selected and the current rates.

Why invest in MCIF?

Here are just a few reasons:

  • Receive a competitive rate of return.
  • Help Missionary Church ministries grow and expand.
  • Support the organizations and ministries you believe in. MCIF lends only to Missionary churches and ministries.
  • Feel confident knowing that MCIF has never lost money on a loan. We’re also subject to annual audits by an independent auditing firm and reviewed by state securities divisions.
Who can invest with the Missionary Church Investment Foundation (MCIF)?

Individuals will need to confirm that they:

  1. Are located in one of the states MCIF operates in.
  2. Are a member of, contributor to, or participant in the Missionary Church or another program/activity/organization associated with the Missionary Church or its ministries.

Churches or related ministries will need to confirm that they:

  1. Are located in one of the states MCIF operates in
  2. Are an official church, member or affiliate organization of the Missionary Church
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