We are emerging as the mortgage company for non-qm and commercial loan financing.

Our strongest programs are fix/flip financing, long term 30 yr loans for investment properties, ground-up construction loans, and rehab loans for multi-family, strip retail, and office properties. All of these loans are asset-based, easy/streamlined documentation underwriting, and can close in three weeks or less.

To receive a loan quote, we would need the following items:

  • A basic explanation of the project
  • The credit score and experience level for the guarantor
  • The property address and description (ex; SFR, 2-4 unit, retail)
  • The purchase price or current value
  • The amount of rehab work you plan to do, including if there’s a change of use and if there’s a 20% or 750 SF increase.
  • ARV – After Repair/built value

If you need financing for a stabilized property, please just send us a value and sale price. After going through the numbers, we can give you a quote and an LOI for most projects. To provide an LOI (Letter of intent) for ground-up deals and commercial rehabs, we also need a completed loan application, a rough set of plans, and a budget.

Loan Documentation Needs List for Approval:

  • Completed Application Form –
  • Copy of Purchase Agreement and receipt for deposit for Purchase Loans.
  • Copy of Guarantor’s current Driver’s License. Copy of Passport if guarantor doesn’t have a Drivers License.
  • All pages of the recent bank statement showing proof of adequate funds to cover the a. the down payment, b. closing costs, and c. 3 month’s of payment reserves.
  • Copies of the following Entity Documents:
  • Signed Articles of Incorporation (or) Articles of Organization
  • Bylaws (or) Operating Agreement
  • EIN (SS-4 Form preferred)
  • Corporate Resolution, specifically approving the applicable loan
  • Certificate of Good Standing by applicable state.
  • Homeowner’s insurance with Replacement Cost Coverage and a Liability Insurance Policy; per exact requirements below:
      • Dwelling Coverage for a minimum of the loan amount or 100% Replacement Cost Coverage per the Appraisal.
      • Minimum $1,000,000 Liability Insurance Coverage.
      • Maximum $5,000 deductible on both the Replacement Cost Coverage and the Liability Policy.
      • Policy must reflect our Borrowing Entity as the Insured.
      • Minimum One Year Policy Term, paid at closing.
  • Homeowners Association and any General Liability Invoices.
  • Title and Closing Agent’s contact information (if not using Patch of Land’s preferred vendor).
  • Current payoff demand from the existing lender for refinance loans.

Information for Rehab or Ground-up Construction Loans:

  • Renovation Budget with the property address, including itemized cost breakdown, the scope of work and timeline for completion.
  • Contractor’s license as required by specific state or municipality.
  • Contractor’s Insurance Policy showing the subject property address.
  • Construction Plans – For New Construction ONLY.
  • Mechanic Lien Waivers – Signed by the contractor – For Construction in Progress transactions.

Contact us for more information about our loan programs.

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