Get Started

Financial Resources

Tri-COG Land Bank is not a financial instruction, and therefore is unable to offer any financing directly. 

However, TCLB will work with banks and federally backed loan programs. 

To purchase a property from TCLB, all applicants must show sufficient funding to cover the purchase price and renovation costs. For example:

Offer Amount: $50,000

Renovation Estimate: $50,000

Required Proof of Funding: $100,000

Offer Amount: $50,000

Renovation Estimate: $50,000

Required Proof of Funding: $100,000

Proof of Funding Examples

The following are acceptable forms of proof of funding (provided that the applicant’s name and date are included):

    • Bank statements
    • Pre-approval letter from Lender
    • Lines of credit
    • A bank statement from a family member/friend (along with a notarized letter detailing approval of applicant’s use)
    • Proof of funds letter from Bank
    • Other forms of proof of funding are accepted on a case by case basis

Cash vs Financing

TCLB works with all buyers regardless of financing status and doesn’t differentiate between applications to purchase a property through cash or financing.  Approved applicants who are paying with cash will be required to use TCLB’s preferred closing company, whereas approved applicants who are paying with financing have the right to select the closing company of their preference.  Due to the unique nature of purchasing a TCLB property all applicants are recommended to select TCLB’s preferred closing company to ensure a smooth and timely closing.    

Renovation Loans

Most TCLB properties will likely qualify for renovation loans such as the FHA 203(k) Loan Program and the Fannie Mae Homestyle Loan.  TCLB recommends all interested applicants research a variety of loan programs and providers to see which may suit their needs best.  Check out TCLB’s Resource Page on Lenders that offer renovation loans.

TCLB's Enforcement Mortgage

At closing TCLB typically places an Enforcement Mortgage and Note on the property to ensure the buyer follows through with the renovation work as agreed.  All applicants seeking financing through traditional and Hard Money means are recommended to provide their potential lender with a copy of the Enforcement Mortgage and Note when seeking pre-approval to ensure their lender approves of the terms of the Enforcement Mortgage. TCLB’s Board is willing to consider putting its Enforcement Mortgage in the secondary position if formally requested by the applicant within their application.

TCLB does not recommend any loan provider specifically, all information included above is for informational purposes only and does not constitute any endorsement or recommendation.

Last updated September 2022.


1705 Maple St
Homestead, PA 15120

Subscribe below for the latest TCLB updates:


Copyright © 2020 Tri-COG, a 501 (c)(3) organization. All rights reserved.