Behold, heaven and the highest heaven cannot contain you; how much less this house I have built! Yet, have regard to the prayer of your servant and to his plea, O Lord my God, listening to the cry and to the prayer that your servant prays before you this day, that your eyes may be open night and day toward this house, the place of which you have said, ‘My name shall be there.’—I Kings 8:27-29a
Big news coming out of Cornerstone, and we want all of you to know it and rejoice with us in what God is doing in our midst.
On Monday of last week, we closed on the purchase of the downtown chapel from our sister church, Christ Community. As many of you know, this moment was the culmination of grace upon grace. We’ve walked for almost a year with this decision before us, and we’ve seen the Lord lead and confirm His direction and grant the provision and peace necessary to make this step a reality.
You’ve heard us say it many times, but it’s absolutely true. Our sister church, Christ Community, has been a model of Christian love the whole way. They have done everything and more, patiently and prayerfully pacing with us as we sought the Lord’s face. They clearly wanted what was best for us, and they evidenced it at every turn. In the end, it was their kindness and generosity that God used to make this purchase a possibility for us. We thank God for them, and we give Him the praise and honor for it. Amen and hallelujah!
We also have some good news on the financial front relating to the close of the chapel, so please make note of these providential blessings. When we originally presented the numbers back in November and December, it looked like this:
- Loan amount of $873,750
- Interest rate of 6%
- Monthly payment of primary loan of $6270
- Deferred down payment to CCC in the monthly amount of $2086 starting in April 2013 (5% interest)
In the last couple of months, as we continued to work with the bank, and as some of you faithfully contributed to the building fund, we were able to make a sizeable down payment, receive a better rate, and lower our monthly payment. Here’s how things ended up numbers wise:
- Down Payment: $73,750 down from building fund donations
- Loan Amount of $800,000
- Interest Rate of 5.25%
- Monthly payment of $5430
- Deferred down payment to Christ Community in the monthly amount of $1890 starting in April 2013 (5% interest)
If you do a little comparison, you can see our monthly payment on the building is $840 less than originally proposed, and that our interest rate dropped 3/4 of a percent. You can also see that our deferred payment to Christ Community is lower by almost $200. Needless to say, we have a lot to be thankful for.
I’d like to publically thank the Chapel Committee, which consisted of Jim Smith, Cy Fenton, and Greg Wilbur. These brothers have put in countless hours of service for all of us. Please take time to extend appreciation to them for the labor of love they’ve performed on our behalf. Finally, I’d like to thank all of you for being supportive prayer warriors through this whole process. We were sharpened by your questions, assisted by your suggestions, and upheld by your prayers. We love you all.