Company: SACH
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001682220-25-000070
Chunk: 20

Company: Sachem Capital Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 the lower of cost or market value. As of both September 30, 2025 and December 31, 2024, such loans were on non-accrual status and pending foreclosure. The following table presents relevant data relating to the Company's loans held for sale as of September 30, 2025:Balance as of December 31, 2024Transfers inChange in valuation allowanceTransfers out, netBalance as of September 30, 2025(in thousands)Loans held for sale, net$10,970 $— $1,014 $(3,187)$8,797 Total loans held for sale, net$10,970 $— $1,014 $(3,187)$8,797 Loan portfolioAs of September 30, 2025 and December 31, 2024, loans held for investment on non-accrual status had an outstanding principal balance of $104.1 million and $87.1 million, respectively. The non-accrual loans are inclusive of loans pending foreclosure. The following table summarizes the Company’s loan portfolio by past due status:Loans held for investment(in thousands)Current30-59 days past due60-89 days past dueGreater than 90 daysTotalAs of September 30, 2025$261,595 $9,559 $— $104,066 $375,220 As of June 30, 2025$257,780 $6,065 $1,295 $119,599 $384,739 As of March 31, 2025$220,538 $37,617 $2,114 $107,591 $367,860 As of December 31, 2024$223,513 $49,460 $16,936 $87,082 $376,991 As of September 30, 2025, the Company’s mortgage loan portfolio includes loans with stated interest rates ranging from 7.0% to 15.0%. The default interest rate is generally 18.0%, but could be more or less depending on state usury laws and other considerations deemed relevant by the Company.

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Table of ContentsSACHEM CAPITAL CORP.NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTSFOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30,