We provide home equity financing with no monthly payments or interest, in exchange for a share in the future appreciation or depreciation of your home’s value.

Noah invests in the value of a home with the hope that as the home gains value, we will share in that appreciation with the homeowner. That means we can take a much more flexible approach. We take a broad look at each homeowner’s financial situation to determine if we are going to invest in the home alongside them.

  • No Monthly Payments
  • No Interest Rate or APR
  • No Prepayment Penalty
  • True Home Equity Partner

In terms of the homeowner, we review their overall financial profile to determine what impact Patch funding would have on their financial situation. We require that after we fund, their credit score be greater than 625 and their debt-to-income ratio (DTI) be less than 60%. After we invest, the homeowner’s lien-to-value (LTV) ratio must be less than 80%. Please note that all eligibility criteria and the final investment amount are subject to final underwriting by Noah.

We consider properties valued at $300,000+ in select metro areas:

  • California – Los Angeles, Orange County, Inland Empire, San Diego, SF Bay Area, San Luis Obispo, Santa Barbara
  • Colorado – Denver metro area
  • Oregon – Portland metro area
  • Utah – Salt Lake City metro area
  • Washington – Seattle metro area

Eligibility Requirements

The requirements below are must-haves, without which we are unable to provide you with financing. Additional information in regards to your personal profile and your property can also help secure a favorable offer from Noah.

  • You are an existing homeowner with your name on the title of the property
  • You have a pre-financing lien-to-value (LTV) of less than 80% on your home
  • You have FICO/credit score of 625 or more
  • The home for which you’re requesting financing is not being used for commercial reasons or on a land lease
  • Your property is located in one of the states that Noah currently operates in
  • Your property is not the subject of a foreclosure or bankruptcy proceeding

Property Geographic Area Details

California, Colorado, Oregon, Utah, Washington

Loan Amounts

$30,000 to $350,000

Max Loan-To-Value

80.00%

Loan Terms

84 months to 120 months

Lien Position

  • 1st
  • 2nd
  • 3rd

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property
  • Invest in a Business
  • Business Working Capital
  • Value Add Project
  • Development Project
  • Personal Use

Property Occupancy

  • Tenant Occupied 100%
  • Owner Occupied Residential

Property Types and Loan Types

Collateral Types

  • Residential Property

Property Types

  • Condominium
  • Single Family Residence

Loan Types

  • Residential Owner-Occupied

Specialty Loan Types

  • 2nd Mortgage Equity Cash Out
  • 3rd Mortgage Equity Cash Out
  • Residential Equity Share

Junior Liens

Junior Lien Loan Amounts

$30,000.00 to $350,000.00

Junior Lien Interest Rates

0% to 0%

Junior Lien Loan-to-Value

80.00%

Junior Lien Loan-to-Cost

0%

Junior Lien Origination Fees

0% to 0%

We Fund Junior Position Loans

Often

Junior Lien Types

  • Equity Cash Out
Our lien can be in 2nd or 3rd position

Purchase Loan

WE DO NOT PROVIDE FUNDS FOR A PROPERTY PURCHASE. Patch Homes allows homeowners to access their home equity for up to 10 years without a monthly payment, instead Patch Homes shares in a portion of the future appreciation or depreciation of the property.

Max Loan-To-Purchase Price

0%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Details and Requirements

Typical Closing Time (Days)

22

Fastest Closing Time (Days)

4

Works With

  • Brokers
  • Borrowers

Payment Structure

  • No Monthly Payments Required

Payment Structure Details

10-year term, no interest, no monthly fees, no early exit fees

Pre Payment Penalty

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • Trust

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Never

Credit Check Required

yes

Minimum Credit Score Required

550

Appraisal Required for Residential Property

Always Before Funding

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Fees

Escrow Fee

Other Fee

As part of the final application and closing, we charge a one-time Servicing Fee of $2,000 or 3% of the financing amount, whichever is higher. This covers all costs, including processing and underwriting, as well as select third-party costs such as credit reports. The fees are deducted from your financing amount as part of the closing. For example: if you were to access $100,000 of home equity, the 3% servicing fee would amount to $3,000. Homeowners may be responsible for additional third party costs, such as affordable housing fees.

Fees which are mandatory for all new borrower clients

  • Underwriting Fee
  • Appraisal Fee
  • Escrow Fee
  • Title Fee

Fees which are charged upfront prior to loan closing

  • Appraisal Fee
  • Escrow Fee
  • Title Fee
  • Other Fee

Fees which are paid to a third party company

  • Appraisal Fee

Noah is a modern finance company helping homeowners tap into their home value to meet their financial goals without incurring new monthly payments or interest. Founded in 2016 and headquartered in San Francisco, Noah’s innovative equity sharing model is a debt-free alternative to traditional home equity loans and HELOCs. By partnering with homeowners, Noah offers homeowners in select metro areas across the United States a one-time cash payment in exchange for a share in a percentage of their home’s future appreciation or depreciation. Noah’s roster of investors includes Union Square Ventures, Tribe Capital, Breega Capital, and Techstars Ventures. For more information visit www.noah.co.

 

License

CA DRE Lic. 00919580

Company Size (Number of Employees)

25

Year Established

2016

Office Locations

San Francisco Headquarters
576 Sacramento Street, 4th Floor, San Francisco, California 94111

New York Office
594 Dean Street, New York, NY 11238

Primary Capital Source

  • Other Private Lending Companies

Alternative Capital Sources

  • Own Funds
  • Individual Investors
  • Family Offices
  • Private Equity Funds
  • Hedge Funds
  • Asset Management Companies

Loan Structure for Majority of Loans

  • Table Funding with Capital Partner

Company’s Other Business Activities Besides Private Mortgage Lending

  • Residential Real Estate Investing

Percentage of Loans Secured by Residential Property

100%

Percentage of Residential Property Loans Which are Fix and Flip

5%

Percentage of Residential Property Loans Which are Buy and Hold

2.5%

Percentage of Residential Property Loans Which are Owner-Occupied

90%

Percentage of Residential Property Loans Which are Long-Term Rental (5+ years)

2.5%

Sahil Gupta

Founder

Jaime Rivera

Home Advisor

Franco Salazar

Home Advisor

Sang Hua

Home Advisor

"Their plan allowed me to use funds to pay off high interest loans and remodel my home. We have no problem sharing any gains in equity on our home with a company that provided us with funds in a manner that was so easy and required so little effort on our part."

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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how will the loan be paid off?

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