In November 2007, pastor Steven Furtick and his wife Holly purchased a second home at 11915 Jumper Drive, in Mint Hill, NC. This is another suburb of Charlotte. It was purchased for $362,500 according to public records.
This home would eventually be put in the name of a Revocable Trust that James “Chunks” Corbett, the Executive Pastor of Elevation Church, setup. It was named after the street that this home is located on.
Per the Mortgage Deed of Trust filed with the Court of Deeds in Mecklenburg County, this property was secured with a $329,404 mortgage for 30 years. Since the property sold for $362,500, this means that the Furtick’s put a down payment of $33,096 to obtain this home.
This second home was purchased at the same time that the Furtick’s still owned their first house at 2703 Ballade Drive. Although it is speculative, it seems that the $58,000 Home Equity Line of Creidt that the Furtick’s obtained on their first home was probably used to help fund the down payment on this second home. As mentioned in the previous post, the $58,000 HELOC was taken out in October 2007. Such is only one month prior to the purchase of their second home.
This home, which they owned concurrently with their first home until August of 2012, was a pretty major upgrade. This lovely home on 11915 Jumper Drive is 3647 square feet (3442 heated). It’s 5 beds and 4 baths, and sits on about 3/4 acre of land.
It’s pretty remarkable that Steven Furtick could afford a $365,000 home this early on in his Elevation Church pastorate. At this time, the church was not even 2 years old, and already Furtick was able to afford a second home!
It’s worth noting that all this was done without Steven Furtick selling one copy of any of his books. His first book, Sun Stand Still, would not be released until 2010. So this means that the second home he purchased was likely done as the result of him receiving a pretty comfortable salary.
We’ll look at how much it takes to comfortably afford a $329,404 mortgage in a future post. But if you wanted to do the research yourself, to afford this mortgage payment (plus the taxes and insurance) would require an annual gross income of at least 6 figures.
Not bad for a second year pastor if you ask me. Especially considering he already owned another home at the same time.
By the way, as of the time of this post, the Furtick’s are attempting to sell this home. According to Zillow, the current listing price is $319,000. If sold at this price, the Furtick’s would take another multi-thousand dollar financial loss on yet another home.
But hey… it’s just money, right?