Exhibit 10.2


                                                                 [Key Bank Logo]

                                                     KeyBank Real Estate Capital
                                                         1200 Abernathy Road, NE
                                                                      Suite 1550
                                                               Atlanta, GA 30328


April 30, 2008



American Church Mortgage Company
c/o Church Loan Advisors, Inc.
10237 Yellow Circle Drive
Minnetonka, MN 55343
Attn:    Phillip J. Myers
         Scott Marquis


Re:   Revolving Credit Agreement among American Church Mortgage Company, as
      Borrower, KeyBank National Association, as Agent and Lender, and the other
      lenders from time to time party to this Agreement, dated as of July 18,
      2007, as subsequently amended.


To Whom It May Concern:

     This letter serves to amend Section 9.5 of the Revolving  Credit  Agreement
     to permit  the  amount  of  Non-Performing  Assets to total up to,  but not
     including,  twenty-five  percent  (25.0%)  of the  sum of its  Consolidated
     Tangible Net Worth plus Actual Loan Loss Reserve Balance  through  December
     30,  2008.  Please  note that the  testing of this  financial  covenant  on
     December 31, 2008 shall be completed at the original twenty percent (20.0%)
     level.

Sincerely,


/s/ Jay L. Johnson
KeyBank National Association, Agent


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