Filter by tags
Questions and Articles
2,263 items
Why Factor With Paragon?
A:
• Immediate increase in cash flow. Under conventional methods, a company must sometimes wait 30, 60, 90 and sometimes 120 days to collect on an invoice. With factoring, we immediately purchase your invoices and advance an initial payment up to 95% of
... more
Why would banks want to make loans that sound very risky?
A:
Banks allow such high volumes of risky loans to be originated because days after the loan funds they get pooled together with millions of dollars of other loans and sold to financial institutions, pension companies, life insurance companies, foreign
... more
How do private loans compare to GradPLUS loans?
A:
The information below is only relevant if you are a graduate student. If you are an undergraduate, you cannot use a GradPLUS loan. Interest Rates: GradPLUS loans offer a fixed interest rate for the life of the loan which is the same for all borrowers
... more
Are LCEF consolidation loans available in all states?
A:
No. LCEF consolidation loans currently are not available in some states. A list of states from which LCEF can accept applications is available here.
... more
Are LCEF home equity loans available in all states?
A:
No, not at this time. We are able to make loans in 15 states however. See a list of states from which LCEF can accept applications.
... more
What fees are charged to the borrower for residential loans?
A:
The LCEF Rostered Church Worker Loan Program exists to assist qualified participants, therefore fees are kept to a minimum wherever possible. However, standard fees associated with, but not limited to, securing a home mortgage are applicable, includi
... more
What are the interest rates on consolidation loans?
A:
As with residential loans, consolidation loan rates are based on LCEF Cost Of Funds. Rates are adjusted annually throughout the length of the loan.
... more
What are down payment requirements for residential loans?
A:
LCEF requires at least a 5% down payment in addition to enough funds to cover closing costs. We also do not require private mortgage insurance (PMI), which is required by most lenders if a 20% down payment is not obtained.
... more
What types of residential loans are available?
A:
Purchase or refinance of primary single-family residences only. Construction loans, purchase of multifamily dwellings, or second homes/investment properties are not available through this program.
... more
Are LCEF residential loans available in all states?
A:
No. LCEF residential loans currently are not available in some states. A list of states from which LCEF can accept applications is available here.
... more