Patch of Land Lending, LLC is the originator and lender of record that lends in more than 44 states. NMLS #1286539, California Finance Lender License 60DBO-45420; Oregon Mortgage Lender License #5384. Origination fees and other fees may apply. This is not an offer to lend. Any financing is for business purposes only, may not be for personal use and will be subject to certain restrictions and requirements, including but not limited to a credit evaluation and approval of the subject property. To qualify, a borrower must meet underwriting requirements. Not all borrowers will qualify and not all borrowers that qualify will receive the lowest rate. APR may vary between 7-14% plus applicable fees. Your actual rate depends on a variety of factors. Loans may be repaid any time prior to maturity, but terms range from 6 to 36 months depending on loan structure.
Example: APR:12.75%. (assumptions: $100,000 loan amount, 12-month term (no prepayment penalties), 10% fixed interest rate.) An interest-only loan on a SFR requires payment of origination points (2.25% of the loan amount on average), an application fee ($200) and a document drafting fee ($500), in addition to any premiums for required insurance policies and escrow services. In this example, the total cost of the loan would be $112,950. Rates, terms, fees and conditions are subject to qualification and may change from time to time without notice.