Noah is a fractional home ownership service that helps owners access the equity in their home through an investment rather than a loan.
An owner will request an estimate based on their home, and Noah will provide an initial quote. Noah will then schedule an appraisal and prepare a final investment offer. The owner can then accept and use the funds for the requested purposes.
According to most sources, Noah charges a service fee around ~3% of the investment size or $2,000, whichever is higher. It then will collect additional fees equal to its equity in the home at the end of the 10-year term, when the home is sold, or when the owner refinances.
Noah makes money by investing alongside an owner and generating revenue from appreciation in the home sale value. Noah also makes money from service fees related the investment.
Noah is privately held. Noah was previously called Patch Homes and rebranded as Noah in March of 2020.