The following is a brief description of each of the loan programs OCCIF can offer.
All applicants must be missions, parishes, monastic communities or institutions serving the Orthodox jurisdictions determined as canonical by the Assembly of Canonical Orthodox Bishops of the United States of America and/or its successor.
OCCIF offers the ability to refinance existing debt, with the goal of provided a more competitive interest rate than conventional lenders. These loans are guaranteed through secured title to the project’s real property. OCCIF can only provide funding for projects where OCCIF provides the first mortgage.read more
Similar to our New Construction Loan program, the initial process required for funding remains the same but the loan amount range is significantly less to renovate versus build. The interim financing, as interest only payments, is also similar to our new Construction Loans but are limited to a maximum of 12 months in duration. After theread more
This loan program is designed to include the purchase of new, undeveloped parcels of land or a property with existing improvements, capable of being used as a place of worship. This program requires the submission of a qualified appraisal, earlier in the evaluation and qualifying stages then other programs. OCCIF can lend up to 70%read more
A loan can be made to a mission, parish, monastic community or institution for building projects involving the construction of a parish temple, social hall, rectory, school or senior-related housing project. Once qualified through OCCIF’s Feasibility and Loan Application processes, we would lock in your interest rate. OCCIF will then establish a 12 to 18read more