UMDF Loans Frequently Asked Questions
While you will not find the answers to all of your Church Loan questions here, the questions that are asked most frequently will be answered. We hope this will be the beginning of a dialogue between people interested in securing a loan for their church, district, annual conference or mission institution and The United Methodist Development Fund.
- What is The United Methodist Development Fund (The UMDF)?
The UMDF is a nonprofit corporation resulting from the merger in 1970 of the Methodist Investment Fund and the Evangelical United Brethren Investment Fund. Its sole purpose is to promote the mission of The United Methodist Church by providing first-mortgage loans for building, expanding and renovating United Methodist churches and mission institutions.
- Who can borrow from The UMDF?
Any United Methodist local church, organization, board or agency may borrow from The Fund.
- What steps does our church have to take to borrow money from The UMDF?
The steps are:
- Develop a plan for church development with your District Superintendent
- The Plan must be reviewed and approved by your District board of Church Location and Building.
- Complete and return the loan application form available from The Fund (see information below.)
- Directors approve loans on a monthly basis.
- Experienced loan officers will guide you through the process.
- What are the Loan terms?
Rate: Call for Current Rate
Size Limits: From $25,000 to $3,500,000
Terms: Up to 20 years
- Do individual church members have to guarantee the loan?
Personal guarantees are never required.
- Are pre-payments penalized?
Pre-payments are not penalized. Instead, we celebrate your success with you.
- Why is The United Methodist Development Fund a good choice when considering a lending institution?
The Fund knows that often many loan institutions offer you incentives. We believe that The Fund offers something different.
- The Fund understands the relationship between proper facilities and local ministries.
- The payment schedule is often better than with local lending institutions.
- The interest on your loan can be used to help other United Methodist churches build and expand their facilities.
- Priority is given to racial/ethnic minority churches.
- How can I get a loan application Packet?
Contact our office and a packet will be sent out immediately.
The United Methodist Development Fund
Loan Administration Office
475 Riverside Drive - Room 310
New York, NY 10115
800-862-8633 or 212-870-3865
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