Rockland Hard Money

About Rockland Hard Money

Rockland Hard Money is an asset-based lender in El Segundo, CA offering loans in California. They provide lending solutions for many different needs and situations, including buy and hold loans, construction loans, commercial loans, cash out hard money loans, fix and flip loans, and bridge loans. They issue loan amounts ranging from $100,000 to $10,000,000 with a maximum LTV of 60% and terms between 12 months and 60 months. Their loan guidelines do not require a minimum credit score. They offer loans on the following types of properties: single family residences, multi family, apartment buildings, office buildings, retail units, mixed use, and industrial facilities.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans, New Construction Loans, Refinance / Cash Out Loans, Bridge Loans

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Industrial

Areas Served: CA

Lending Guidelines for Rockland Hard Money

Below are the general loan guidelines published on the Rockland Hard Money website. Please confirm all terms and rates directly with the lender.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by Rockland Hard Money.

Loan Example 1

Joseph takes a hard money loan from Rockland Hard Money in order to rehab a house to resale in Los Angeles, CA. The sales price of the property is $250,000. The lender agrees to issue a loan with a 80% loan-to-value (LTV) so they will extend $200,000 on the project. The note is interest only, paid monthly, and is for 6 months at 8% interest with 4 origination points paid at the closing.

Joseph will need to contribute $50,000 at the closing (20% on the 80% LTV), plus he will pay the $8,000 origination fee. The monthly interest only payments will then total $1,333 to the lender. If Joseph sells the property for $300,000 after 6 months, he would then make a total profit of $34,000 after subtracting the principle amount of $200,000, the cash contributed at closing of $50,000, the origination fee of $8,000, and the aggregate interest payments of $8,000. This amount doesn't include renovation costs.

Loan Example 2

Rockland Hard Money makes a hard money loan to Sophie for a renovation project in Los Angeles, CA. The deal dictates the following:

a) A $240,000 purchase price, b) a 70% loan-to-value (LTV), c) a 18 month term, d) a 8% interest rate, and e) a 4% origination fee.

Assuming a $288,000 sales price after the 18 month term, the outcome for this project would look like the following:

$288,000 sales price
- $168,000 note principle (70% LTV)
- $72,000 down payment (30% on 70% LTV)
- $6,720 origination fee (4% of the $168,000 principle)
- $20,160 interest payments (18 months x 8% interest)
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= $21,120 total profit (does not include taxes or renovation costs)

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