At Patch of Land, we can fund your first loan in as little as 7 days. Whether you're looking for capital for a Rental or Fix & Flip property, we have a program to meet your needs. Once you've funded your first loan, faster approval times and more financing options can make the process even easier for future loans.
Rental Loan Program |
Fix & Flip Loan Program |
|
Project Type | Single Family Residential 2-4 Unit Residences Condominiums Townhomes Multi-Family Apartments Mixed Use Buildings (min. 50% residential) |
Single Family Residential 2-4 Unit Residences Condominiums Townhomes Multi-Family Apartments Mixed Use Buildings Small Commercial |
Loan Amount | $100,000–$3,000,000 | $50,000 to $3,000,000 |
Loan to Value (LTV) | Up to 75% | Up to 85% |
Rent Coverage Ratio | 1.25x | Not Applicable |
Loan Term | 24 Months (With 1 Year Extension Option) |
12 Months (No Prepayment Penalty) |
Interest Rate | From 8% | From 8% |
Proceed Usage | Purchase, Refinance, Bridge, Cashout | Purchase, Refinance, Renovation, Bridge, Cashout |
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©Patch of Land, Inc is the originator and lender of record. NMLS#1286539; CFL License 60DBO-45420; Oregon Mortgage Lender License #5384. We currently lend in all states except for the following: AZ, MN, NV, SD. Origination fees and other fees may apply. This is not an offer to lend. Any financing will be subject to a credit evaluation, approval of the subject property, and other restrictions. 7 day funding window begins once all due diligence documents are submitted and requires clear title. Terms and conditions are subject to change. To qualify, a borrower must meet our underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must meet certain conditions. Your actual rate will depend on a variety of factors. Rates and Terms are subject to change at anytime without notice.