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Investment Interest
Rates
Effective July 1, 2008*
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MissionPlus (Checkbook availability)
|
Tier 1: $100 - $9,999
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|
Tier 2: $10,000 - $24,999
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Tier 3: $25,000 - $99,999
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Tier 4: $100,000+
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MissionFuture4KIDZ
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3.4%
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3.44%
|
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MissionFirst
-
Tax-Deferred
—
Adjustable
rate
-
Health
Savings
Account
—
Adjustable
rate
|
Tier 1: $100 - $4,999
|
|
Tier 2: $5,000 - $9,999
|
|
Tier 3: $10,000 - $24,999
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Tier 4: $25,000+
|
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1.5%
2.0%
|
1.51%
2.02%
|
|
MissionTermSelect — Adjustable rate
|
1 year term
|
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3 year term
|
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5 year term
|
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7 year term
|
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MissionTermSelect — Fixed rate
|
1 year term NEW! |
|
2 year term
|
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4 year term
|
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6 year term
|
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|
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MissionTermSelectGrand — Fixed rate
|
1 year term
|
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2 year term
|
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3 year term
|
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*Interest rates are subject to change without notice.
**APY
=
Annual
Percentage
Yield.
***
New
funds
only;
funds
in
existing
MIF
investments
are
not
eligible
for
these
special
interest
rates.
|
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Loan Interest Rates Printer Friendly Page
Effective
July 1, 2008*
|
Loans for Established ELCA Congregations and Ministries
|
Interest Rate
|
|
MIF Long-term Loan
|
Adjustable Rate Terms
|
|
•
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Maximum amortization schedule of 25 years; minimum loan amount is $100,000
|
|
•
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Interest rates are reviewed after five years, at which time the interest rates may be adjusted to reflect general market conditions
|
|
•
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Pay interest only for term of construction
|
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•
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Documentation fee: $750
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Fixed Rate Terms
|
|
•
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Maximum amortization schedule of up to 10 years
|
|
•
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Pay interest only for term of construction
|
|
•
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Documentation fee: $750.00
|
|
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MIF Construction Loan
|
Terms
|
|
•
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Terms of up to 18 months
|
|
•
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No loan origination fee
|
|
•
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Congregation must have a commitment from another long-term lender
|
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MIF Loans for Smaller Projects
|
Adjustable Rate Terms
|
|
•
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Interest rates are reviewed after five years, at which time the interest rates may be adjusted to reflect general market conditions
|
|
•
|
Amounts of $20,000 to $100,000
|
|
•
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Maximum amortization of 10 years
|
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Fixed Rate Terms
|
|
•
|
Maximum amortization schedule of up to 10 years
|
|
•
|
Amounts of $20,000 to $100,000
|
|
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MIF Loans for Second Sites
|
Terms
|
|
•
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Available to congregations buying or constructing a building for a satellite congregation
|
|
•
|
Maximum amortization of 25 years
|
|
• •
|
Maximum loan amount of $5 million $750 document preparation fee
|
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MIF Loans for New Mission Congregations
|
Interest Rate
|
|
Initial Vacant-Site Loan
Generally a maximum amortization schedule of no more than 15 years
|
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Initial Building Program Loan
Maximum amortization schedule of no more than 15 years
|
|
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• 0% first two years
• 2% next five years
|
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• 3% for seven years
|
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*Interest rates and terms are subject to change without notice.
MIF
does
not
charge
points,
origination
fees
or
pre-payment
penalties
for
loans.
Contact an MIF loan administrator at 877.886.3522 for complete loan terms and conditions.
|
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Mission Investments are subject to certain risks. See "Risk Factors" following the introduction in the Offering Circular.
Mission
Investments
are
not
bank
accounts. As securities issued by a non-profit institution, the investments are not insured by the FDIC, SIPC or any other federal or state regulatory agency. The securities are sold only by means of the Offering Circular, which can be obtained from the Mission Investment Fund. This is neither an offer to sell nor a solicitation of an offer to buy the securities described here.
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