Creative financing ideas for an Arizona home

[Leslee Wilson]

Greetings BP Nation,

I need some advice and ideas. Here's the picture:

Our church, Gilbert SDA church in the Phoenix area, is looking at a house to buy in a county island that we will transform into our church home over time. The asking price is $560,000, it has been listed for about 1yr. with Congress Realty. (Does anyone know anything about Congress Realty?) The sellers are a retired couple that will use the home sale to supplement their pastor's retirement.

Our congregation has about $30,000 to put down on the home but the monthly payment would still be out of our price range if we went the conventional bank loan route. Can anyone share some creative financing options? We have an aggressive fundraising campaign that will begin in the next couple months but that doesn't help us at this point in the game.

Thank you for any and all input!