Patch of Land Review

Our Summary

Finance up to 100% of construction costs
No pre-payment penalties
Interest rates starting at 5.99%
Funding time as few as 5 business days

Patch of Land is a peer-to-peer crowdfunding marketplace that connects borrowers to accredited and institutional investors. By connecting borrowers and investors directly, Patch of Land’s mission is to make the real estate lending process more efficient, especially for borrowers with real estate projects that are typically rejected by banks or traditional lenders.

There is no cost to list a loan on the platform; borrowers only pay for an appraisal, closing costs, origination points and monthly interest. Loans can close in as quickly as 5 business days, but you should expect an average of 10 business days depending on how quickly you respond with documents.