North Springs UMC Saves Thousands on Refinance


North Springs UMC is a warm, welcoming multicultural community of faith located in Sandy Springs. Members are committed to sharing the love and grace of Jesus Christ and to helping their church and neighbors in need.

Although Bill Barbour works long hours, he still finds time to serve as the church’s business administrator. When it was time for North Springs UMC to refinance their loan in February 2012, Bill was taken aback at the original lender’s slow response time, high interest rate and costly closing fees. Fortunately Rev. Will Zant, pastor of North Springs UMC, suggested the Georgia United Methodist Foundation as an alternative.

Bill worked with Frank Craft, the Foundation’s former director of lending service. “Frank was wonderful. It was a totally painless process that saved us thousands of dollars in closing fees,” he said. “The Foundation clearly had our best interests at heart. I also discovered that profits made from loans are used to fund United Methodist ministries.”

Frank adds, “What was so great about this deal is that our attorney cleared up the title on the church as well as the parsonage. It had so many lenders and so many filings that everything was conflicting with each other.”

It has been Frank’s experience that ministers and trustees sometimes assume they have clear legal title to the land on which their church and parsonage have been built. A title may become cloudy because a survey was not conducted or because another party never filed a release on the lien on record.

“If you need to borrow money, whether it’s for a renovation, addition or refinance, check the public records to make sure they are accurate and up to date,” Frank said. “If you clean it up now, it will save you time, trouble and aggravation because any pending loan will not close until the title is cleared.”

This article was originally published in the Summer 2012 edition of Faith & Money.