Company: SACH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001682220-25-000044
Chunk: 51

Company: Sachem Capital Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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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 June 30, 2025, the Company’s mortgage loan portfolio includes loans with an outstanding principal balance amount up to $38.3 million with stated interest rates ranging from 6.5% 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.As of June 30, 2025 and December 31, 2024, the Company had one borrower representing 13.1% and 14.0% of the outstanding mortgage loan portfolio, or $50.4 million and $55.0 million, respectively.Presented below is the Company’s loans held for investment portfolio by geographical location as of June 30, 2025 and December 31, 2024:June 30, 2025December 31, 2024(in thousands)Carrying Value% of PortfolioCarrying Value% of PortfolioNew England$173,756 45.2 %$179,421 47.6 %Mid-Atlantic46,288 12.0 %42,304 11.2 %South164,695 42.8 %151,165 40.1 %West— — %4,101 1.1 %Total$384,739 100.0 %$376,991 100.0 %The following tables allocate the carrying value of the Company’s loan portfolio based on credit quality indicators in assessing estimated credit losses and vintage of origination at the dates indicated:June 30, 2025Year Originated (1)FICO Score (2)(in thousands)CarryingValue20252024202320222021PriorLoans held for investment: Under 500$300 $— $300 $— $— $— $— 501-5502,860 — — — — 1,060 1,800 551-6001,