Mortgage Payment & Interest Savings

Has it really been over six years since our Let the Children Come addition was completed? This building project made possible the addition of new classrooms, science labs, art studio, meeting rooms, and a reconfigured office space. The opportunities for growth offered to our students have been greater now than ever before as a result of Let the Children Come. Since the project’s conclusion in 2018, we have been blessed to fully pay off one of the three government bonds that was initially secured. 

In addition to retiring Bond “A,” we have also been able to allocate additional resources to significantly reduce the principal on Bond “B.” In fact, we have made such substantial progress through the generosity of our supporters that we are quickly approaching the opportunity to fully pay off Bond “B.”

This would enable us to achieve two critical outcomes:

1. We will save nearly $35,000 in interest payments over the next three years.
2. We will position ourselves to explore more favorable terms for Bond “C” in late 2025.
   

Bond & Savings Details

• Bond "A"
  Bond "A" was paid on time (in 5 years), and gifts from supporters also provided for a good start on payment of Bond "B."

• Early Payment of Bond "B" 
  (Current Bond Payment section in above graphic)
  Our current goal is to pay off the five-year Bond "B" three years early (by October 2025). By doing so, we would save nearly $35,000 in interest fees. The mortgage payment on October 31, 2024, was $475,000. We are requesting support to make a payment of $875,000 in October of 2025 to complete what is owed on Bond "B."

• Bond "C"
  In November 2025, per our agreement with U.S. Bank, we will need to re-amortize Bond “C.” However, if we can pay off the remaining $850,000 on Bond “B” by October 2025, we will have the option to shop around for better rates with other financial institutions. This could foster competition, allowing us to secure a more competitive interest rate on Bond “C.”
  

Should you have any questions regarding our current bond status, please do not hesitate to contact Jeffrey J. Loberger at president@fvlhs.org. We pray that the Lord continues to bless the incredible support for our high school and guides us in being good stewards of our financial commitments. Thank you for considering how you might assist us in reaching our $850,000 goal, whether through your gifts or prayers!

Your Support Makes a Difference

FVL is blessed with supportive Federation congregations, donors, and alumni who love their school. Praise the Lord for the gifts that have blessed FVL during our 72 years of ministry!