Mortgages for Churches

Stewards Canada loans are available for assemblies and churches meeting the investment criteria established by our Board of Directors. Stewards Canada loans are secured by first mortgages on real estate assets.

Lending Overview

  • • Lending will seldom exceed 70% of the market value of the property and building.

    • We require an appraisal, engineering report and environmental assessment of the property; and the ability to fund monthly payments to Stewards Canada without dramatically affecting local ministry costs. We do not want mortgagors to dramatically reduce community ministries.

  • 5 year term – 7.5% fixed​​

    The principal is amortized up to a maximum of 25 years, depending upon the circumstances. The mortgage interest rate is subject to change and will be confirmed when an application is approved.

    There are no fees for mortgage application, mortgage discharge, amortization statements, late payments or refinancing. We usually do not require personal guarantees from assembly/church members. The assembly/church is expected to assume the legal costs for preparing and registering the mortgage at inception and discharging the mortgage when it has been fully paid.

    On this page below is a link to a Mortgage Calculator which will estimate the amount of monthly blended principal and interest mortgage payment that will be due to Stewards Canada based upon the current interest rate, the amount of borrowings that will be required to complete the project and the amortization period. If you contact us, we can provide further data, including a full mortgage loan amortization schedule.

Stewards Canada will be very pleased to consider an application from your assembly or church.

Please complete or print the Mortgage Application form PDF and send it to Stewards Canada for assessment. You will note that the Mortgage Application Form also contains a Statement of Faith to which your assembly/church must subscribe without reservation, in order for Stewards Canada to consider your application.

If the application is approved, we will provide a formal commitment letter to provide funds at your convenience. The mortgage approval process takes up to two weeks from receipt of application.

If you have any questions regarding completing the form, please call or email us (see our Contact page) and we can discuss any and all issues.

How to Apply

Mortgage Resources

 FAQs

  • Review the information on the Mortgages page of this website.

    If you qualify for a Stewards Canada mortgage, print out and complete the Printable PDF version and send it to us for assessment.

  • No. We also support facilities that are housing ministries such as summer camps, homeless shelters, homes for the aged, nursing facilities, and Christian schools. We will use our funds to support any worthwhile ways to further the Lord’s work, provided it is associated with the building, renovating, repairing or buying property.

  • Since Stewards Canada is a charity, we are determined to ensure that profits are rebated to those who are utilizing its ministry – the local churches. After paying our administration expenses, any mortgage profits are rebated back to our mortgage holders on a pro-rata basis. The extent of the rebate is determined annually by the Board of Directors.

  • No. Stewards Canada and its Board of Directors are completely autonomous from every other charity. In particular, Stewards Canada has no affiliation with Stewards Foundation and Stewards Ministries in the United States and is not associated with Stewards’ Trust and Stewards’ Foundation in New Zealand and Australia.

  • Mortgage interest rates currently being offered are as follows:

    • 5 year term – 7.5% fixed

    ​Rates are determined periodically by the Board of Directors of Stewards Canada after reviewing all applicable financial market metrics.

  • During our existence, we have been able to provide financial help to over 340 assemblies and church-related ministries. Without our help, many of these churches would be unable to find the finances they needed to accommodate their growing ministry and repair existing facilities.

  • Stewards Canada is managed by an Executive Director and an Administrator and is actively guided by a Board of Directors composed of Christian bankers and accountants. (See names and bios of The Stewards).

  • Yes. Stewards Canada is a charitable organization, appropriately registered with the Canada Revenue Agency, which periodically audits our activities.