Patch Homes is now Noah Read more

Eligibility

Our application process makes it simple for you to provide the details we need about your address, your property, and your unique financial situation. Below are our eligibility guidelines for home equity sharing, which may be updated at any time.

Location

  • The home for which you're requesting financing must be located in a neighborhood where we're available.

  • We're currently investing in neighborhoods within CA, CO, DC, MD, MA, NJ, NY, OR, UT, VA, and WA.

Property

  • Your property value must be within our investable home value range, generally $300,000 to $3,500,000.

  • You must own at least 25% of the equity in your property at the time of application.

  • You must not have more than three existing liens on your property, including mortgages and HELOCs. If you have more than three liens, you must use your Noah financing to pay them down.

  • Your property cannot be subject to an active foreclosure or bankruptcy proceeding.

  • Your property cannot have a lien on it from a private money lender or private mortgage. If it does, those liens will need to be paid off using Noah financing in order to partner with us.

  • Your mortgage and home equity liens should all be reporting to your credit report on an ongoing basis.

  • Your property should not be under major construction at the time of application, beyond ongoing home repairs and minor renovations.

  • Your property is not a cooperative housing unit (co-op).

Homeowner

  • You must have a minimum credit score of 600 (we base this on an average of the three national credit bureaus).

  • You do not have multiple 60-day or 90-day delinquencies on your credit report.

  • You are able to verify sufficient income or savings to cover your current mortgage and debt obligations.

  • Your debt-to-income ratio is 60% or less. If your DTI is above 60%, your Noah financing must be used to pay down debt.

  • You are not currently in an active bankruptcy proceeding.

Still wondering if Noah is right for you?

See what kind of funding you qualify for.