Patch Homes Home Equity Loans Review

Rating: 8.2 / 10 (Excellent)
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Patch Homes is a California-based consumer finance company that offers debt-free home equity financing for a ten-year period, without monthly payments or interest, in exchange for a percentage of the home's future appreciation or depreciation value. Their services are only available in California, but they are looking into future expansions.

How is Patch Homes rated?


Consumer Experience

Overall Rating: 8.2 / 10 (Excellent)

Patch Homes has an innovative solution for house-rich and cash-poor homeowners who are looking to tap into their home equity, at very low cost to themselves. Technically not a home equity loan or a cash-out refinance, their debt instrument relies on the assumption that at the end of the loan term, the property will have gained appreciation. While not for everyone, this can be an excellent solution for people who are financially disciplined, but in need of immediate cash.

Patch Homes Loans

Lender Type
Online Lender
Loan Types Available
Home Equity Loan
Cash-out Refinance
Maximum Home Equity Loan
Closing Fee
Application Fee

Loans - 8.4 / 10

Patch Homes offers a home equity financing solution that is completely different from anything else on the market. Essentially, they allow homeowners to extract equity at 0% interest, with no monthly repayments for the ten-year loan term. At the end of the term, Patch in future appreciation or depreciation of the home's value, and the loan becomes due.

Patch Homes Qualifications

Loan Qualifications
Second Home
Property Appraisal
Proof of Employment
Primary Residence
Minimum Credit Score

Qualifications - 8 / 10

Patch Homes only lends to borrowers with strong financial profiles with responsible economic histories. They must have a loan to value ratio of less than 75% on their home, a credit score higher than 630, and the home to be financed cannot be used for commercial reasons, or subject to foreclosure or bankruptcy proceedings.

Patch Homes Customer Experience

Site Features & Technology
Online Quote

Consumer Experience - 8.2 / 10

Patch Homes offers fully online quotes, as well as comprehensive information on their site, to better inform their customers (very necessary, considering they've developed a radically innovative debt instrument). There are no hidden fees, although there are obviously costs associated with the loan, such as a servicing fee, title and escrow fees, and an appraisal fee.

Patch Homes Reputation

Memberships & Accreditations
Equal Opportunity Lender

Reputation - 8 / 10

Founded in 2016, Patch Homes is a relative newcomer to the home lending industry, but they have been featured in the Wall Street Journal, Fortune, The Washington Post, and National Mortgage News. Its founders are industry veterans, however, with more than twenty years of combined experience.

Additional Details

Homepage URL
Company Phone
(415) 578-6515
Headquarters Address
750 Battery Street, Suite 700, San Francisco, CA, 94111
Mailing Address
750 Battery Street, Suite 700, San Francisco, CA, 94111

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Top Rated
Our Partner
8.2 / 10
  • California cash-out home equity at 0%
  • No monthly payments
  • Access up to 80% LTV with flexible term of 10 years
  • Payoff credit cards, personal loans, home improvement, etc.
  • Fast closing in 15-20 days
  • Approval of credit scores till 600
  • Service only available in California