Christian Loans

Just what exactly is a Christian loan?

I see people asking about Christian loans, Christian home loans and Christian loan companies and I thought to myself: What exactly are they looking for?  What makes a Christian loan or lender different than any other?

So I searched the internet, and here is what I found.

The first information I found about Christian loans and Christian debt services was a site, called ChristiaNet.com, that listed people and companies, that I would assume are of Christian faith, and that they recommend for people of Christian belief.

The site lists everything from Christian debt counselors, to auto loan companies and Christian Payday loans (isn´t this an oxymoron?)

After some further research, I also found some Christian mortgage loan companies operating on the internet. Again I looked for some of the things that might make these companies different from other loan companies.

From my understanding, Christian loan companies have a higher moral duty than other lenders, and must obey by the biblical principals of honor, honesty and responsibility. They promise to help educate potential borrowers to make more informed decisions, and promise not to use unethical or less scrupulous sales tactics.

In some of the Christian loan sites I read that Christian lenders will teach you to live within your means as to avoid getting into financial trouble at a later date. Christian lenders also say that you should honor your responsibilities and make payments of your bills and dues.

Help for college students

If you are a Christian college student and plan on attending a Bible college or Christian university, you may also qualify for special christian loans from Christian networks and church organizations.

To qualify for this type of help, you must be of Christian faith, have strong moral values and be an active member in the Christian community, as well as demonstrate academic performance and some level of need for financial aid. Some of these organizations will even offer financial aid if you are not going to a Christian college as long as you meet the required guidelines.

What about Christian payday loans?

Payday loans are loans of small amount for short periods of time, intended on helping you make it from paycheck to paycheck. They usually have a very high interest rate and are a type of loan you should always avoid.

I guess you can say there is some advantage to using a Christian payday loan site instead of a regular lender if you consider that usury (charging very high interest rates), goes against the Christian faith. This being said, you can probably get a better deal from a Christian lender than a non-Christian lender.

From the information I saw in about one dozen Christian loan sites I visited, they (obviously) do not discriminate against non-Christian customers.

Not only would this not be the "Christian thing" to do, but federal law prohibits lenders from discriminating on the basis of race and religion.

From everything I have read, I can not say for sure that you will get a better deal on a Christian loan versus a non-Christian loan.

That being said, if you are of Christian faith, and it makes you feel "better inside" to go with a Christian lender, that by all means do so. The important thing when it comes to faith, be it Christian or otherwise, is that it helps guide you in the right direction and to do good to your fellow human being.