Terms & Conditions

Please review the Terms and Conditions before proceeding so your loan application is not denied.
  1. Loan approvals are based, in part, on the supporting documentation substantiating the borrower’s ability to repay the full loan value plus accrued interest in accordance with the terms and conditions of the loan. Full disclosure is required of each applicant. Lack of full disclosure, in any area of the evaluation process, constitutes a breach of confidence and is grounds for the denial of any application.
  2. Loan proceeds can only be used for the project approved, as described within the application process and submitted supporting documentation. Any distribution of loan proceeds beyond the “approved project” constitutes a breach of the loan agreement.
  3. The Orthodox Church Capital Improvement Fund is not insured by the FDIC. No state’s securities agency has recommended or endorsed an investment into or a loan issued by the Orthodox Church Capital Improvement Fund.
  4. OCCIF will determine the interest rate at the time the loan is approved. Prevailing interest rates can be used for budgeting and planning purposes only but no rate shall be set until an application is approved.
  5. The need for a loan should be anticipated well in advance. No applicant should sign any contract, lease or any other standard form of purchase agreement without having an approval in writing from OCCIF, where the use of OCCIF loan proceeds are expected as payment for such agreements. As each applicant is unique, so is the anticipated duration of time associated with OCCIF’s review process. Once an applicant has received an approval from their LOAN APPLICATION package, OCCIF will generate an anticipated timeframe for planning and review purposes.
  6. OCCIF reserves the right to require the applicant to provide, at their expense, a professionally produced appraisal at the submission of the LOAN APPLICATION. The applicant should anticipate at least a 90 day preparation period for this exhibit. The requirement for an appraisal will be determined on a case-by-case basis by OCCIF upon review of the loan at a PREQUALIFICATION APPLICATION stage.
  7. A non-refundable Application Fee of $1000.00 shall be submitted with each Loan Application to defray the costs associated with the administration and processing of all loan applications.
  8. Loan fees will be charged at the approval of an application and are based upon loan value, financial strength, and equity position of borrower. These fees shall carry between .5% to 1.0% of the loan value.
  9. Loan repayments will be processed through First Mortgage, Inc. (FMI). All new accounts will require a one-time setup fee of $100, along with the first year’s servicing fee, which is based on the starting balance of the loan. These fees will be collected at closing. For additional information, please visit FMI’s website at www.f-m-i.biz.
  10. For an application to be considered complete, a letter of support from your Hierarch must accompany the loan application.
  11. The definition of ‘Total Construction Cost’ includes all costs as listed on the line item, schedule of values, prepared by a licensed contractor approved to conduct the defined scope of work. It does not include associated soft costs which include, but is not limited to, governing agency approval fees, building permit fees, realtor fees, Architects and Engineers fees. It does not include costs associated with the purchase of furnishings, unless previously approved to do so.
  12. Project equity will be evaluated on a project by project basis. Real property, capital accounts and other forms of security may be required to qualify for a loan program.
  13. 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.
  14. Loans can only be made for the express purposes of:
    • The purchase of real property used for church use only;
    • The construction or renovation of real property for church use only;
    • The refinancing of first mortgage debt associated with church use only.
  15. OCCIF reserves the right to reject any LOAN APPLICATION submitted for consideration.
  16. OCCIF reserves the right to modify loan qualifications, loan applications, promotional information at any time.
  17. OCCIF can only grant loans, based upon available capital, and does not guarantee loan approval of otherwise qualified applicants due to limited reserves.

Application Process

The completion and submission of two separate applications are required for any loan request made to OCCIF. This is the only method by which OCCIF can process any loan request. No other forms will be used in an evaluation process other than those developed by OCCIF. See the definitions for each application description and submit the appropriate form for consideration.


The PREQUALIFICATION APPLICATION is designed to determine the general financial health of the applicant. Applicant’s preliminary financial profile will be reviewed to make this determination. Please review your application package for completeness prior to its submission to OCCIF.

OCCIF will notify the applicant in writing of the results of its review.

Incomplete application packages will be returned but may be resubmitted.


Upon notification of an approved PREQUALIFICATION APPLICATION, a completed LOAN APPLICATION package shall be submitted. The applicant will receive an email with a unique password to access the online loan application for submission. No review will begin until the LOAN APPLICATION is considered complete. The review and approval process will vary in length as each project’s scope and complexity vary. A non-refundable, LOAN APPLICATION review fee of $1,000.00 is required at the time of application submission. Please review your package for completeness prior to its submission to OCCIF.
Should the application be approved, the applicant will be notified concerning loan closure requirements and procedures. Resulting documentation will determine closing schedules and funding.
Should the loan application be denied, OCCIF will notify the applicant, providing the reason(s) for the denial, along with suggestions/recommendations for future application considerations.
A letter from your Hierarch, demonstrating His blessing to proceed with the application process must accompany this LOAN APPLICATION.
Incomplete application packages will be returned but may be resubmitted, subject to additional review fees.
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