Mortgage Payoff Update

Jon Grano

Pastor for Operations

Money & Generosity

Dear North Church,

At last Sunday night’s Quarterly Strategy Meeting, I shared a “Mortgage Payoff Update” intended to inform the congregation of the status of our mortgage, encourage us with recent examples of God’s generosity to The North Church, and challenge us each to prayerfully consider a one-time, special “over-and-above” gift to pay off our mortgage before it comes due December 1, 2026.

When Bethlehem multiplied its three campuses into three independent churches several years ago, our bank took Bethlehem’s existing mortgage debt and assigned one-third to each former campus while (amazingly) maintaining a 3.2% interest rate on each new mortgage.

Since then, The North Church has allocated 7.5% of each year’s annual Church and Missions (C&M) budget to paying down its mortgage. That amount—included as a part of your regular C&M giving—now totals over $910,000 through June 30. In addition, we’ve made three extra one-time payments in February of 2024, 2025, and 2026 totalling nearly $375K with your C&M contributions that exceeded C&M annual expenses. Finally, you’ve collectively made hundreds of over-and-above contributions to our ‘mortgage reduction fund’ totalling more than $440K, such that our mortgage was reduced by over $1.7M since we launched, from $2,235,988 on February 1, 2023 to $507,614 on June 30, 2026.

‍Current status:
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When we include July’s budgeted mortgage payments and your generous “mortgage reduction fund” gifts made in June and applied in July, our mortgage balance at the end of July stands at $468,480. I praise God for his generosity to The North Church through you these past 42 months that allowed us to pay off nearly 80% of our original mortgage four months before our mortgage is due.

‍Remaining need:
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Since we budgeted $352,500 (7.5%) this year toward mortgage payments ($29,375 each month), we have five remaining budget payments totalling $146,875 still to be made. When factoring in these payments and expected remaining interest, we anticipate a remaining need of $328,000 to pay off our mortgage before it is due.

‍Next steps:
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How might this need be met? Several (of many) possibilities:

  • Lavish giving: In the past five years, The North Church has experienced several examples of “lavish generosity”—over and above individual gifts that covered costs for a new roof (nearly $400K), a new gym floor ($100K), new carpet ($50K), and two newer vans ($50K each).
  • Equal giving: With approximately 875 members, if each member gave $375 toward mortgage reduction, the mortgage would be paid off.  Or, if each member and regular attender household gave a one-time “tithe on a tithe” this year, we’d have more than enough to pay off the mortgage.
  • Proportional giving: God blesses each member of the body of Christ with different gifts, talents, and financial resources. Some can give more, and some less. The ways God might use each of us to meet this need are countless. Two examples illustrate how this might work. The first shows how 200+ gift amounts from $100 to $50,000 might pay off the mortgage. The second shows how 400+ gifts of various amounts from $25 to $10,000 might pay off the mortgage. Both examples are descriptive, not prescriptive.

In the coming weeks, I encourage each household that considers The North Church its home—members and regular attenders alike—to begin to prayerfully consider a special one-time “mortgage payoff gift” this Fall, over and above their regular giving to The North Church.

In 2026, among all the reasons we already have to thank God for his grace, I’m praying we can add one more reason—a paid-off mortgage—when we gather together in less than four months for our annual Thanksgiving service.

Please stay tuned for further details later this Fall, including recommendations regarding what might be done with gifts that exceed our remaining mortgage balance.Thanking God for his past generosity to The North Church through you,

‍Pastor Jon Grano

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