Elevation Church held it’s first service in February 2006. According to public records, prior to the first service, pastor Steven Furtick had already purchased a home in a Charlotte suburb known as Matthews, in September 2005 for $190,000.
The property address is 2703 Ballade Drive. Per public records, the property is a 2 story home, with 2,662 total square feet (2,121 heated), and sits on roughly half an acre of land. According to Zillow, the property has 4 beds and 2.5 baths.
The home was purchased by “Larry” Steven Furtick and his wife Holly by taking out a 30-year mortgage for $151,548. Since the home was purchased for $190,000, that means they had $38,452 in cash that they put as a down payment on the home.
It should also be noted that the record shows that in October 2007, pastor Steven and Holly Furtick secured a Home-Equity Line Of Credit (HELOC) for $58,000, payable over 30 years, on this property.
In August 2012, Steven and Holly Furtick sold the home for a $21,000 loss, at $169,000.
- Steven Furtick’s First Mortgage
- HELOC for $58,000
- 2703 Ballade Drive Property History
- 2703 Ballade Drive Zillow Listing
It is fair to say, this home is a pretty standard “middle class” home in the greater Charlotte, NC area… for two accomplished young professionals. However, it’s a pretty large home for somebody to own in this part of town who is a newly minted seminary graduate that just moved to town to plant a church. It begs the question… where did the money come from to qualify for this mortgage? Who gave the Furtick’s the money for such a large down payment on this home? And how did they qualify for this mortgage, with no real job history?