Rockland Commercial Mortgages

About Rockland Commercial Mortgages

Rockland Commercial Mortgages is an asset-based lender headquartered in El Segundo, CA providing funding throughout California. They provide private commercial loans and short term bridge loans. Their lending parameters are flexible, including loan amounts ranging from $250,000 to $20,000,000 with a maximum LTV of 65% and terms up to 5 years. They do not require a minimum FICO score to receive a loan. They provide loans on various property types, including multi-family, apartments, office buildings, retail storefronts, hotels and motels, storage facilities, senior living facilities, mixed use, warehouse spaces, industrial facilities, medical offices, and undeveloped land.

Loan Types Offered: Commercial Hard Money Loans, Bridge Loans

Property Types Covered: Multi Family, Apartment, Office, Retail, Hotel, Storage, Assisted Living, Mixed Use, Warehouse, Industrial, Medical, Land

Areas Served: CA

Lending Guidelines for Rockland Commercial Mortgages

Below are the general loan guidelines published on the Rockland Commercial Mortgages 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 Commercial Mortgages.

Loan Example 1

In order to buy a new office building for his small business, Max looks to Rockland Commercial Mortgages to fund his acquisition with a commercial private money loan because he is unable to secure a conventional mortgage loan from a bank. The property costs $400,000. Max will have to put 15% down, or $60,000, since the lender will only loan 85% of the acquisition (the loan to value or "LTV"). This means that the principle on the loan is $340,000. Additionally, the lender will require a 5 point origination fee to go along with the 9%, 18 month term on the deal. They will not charge a pre-payment penalty in the event that Max pays off the note early. Max will need to pay an origination fee of $17,000 and he will then begin making the monthly payments in the amount of $2,550 ($340,000 principle x 9% interest rate / 12 months). He may re-pay the note whenever he chooses because there isn't a pre-payment penalty but he is responsible for the full principle amount whenever he concludes the loan.

Loan Example 2

Bonita takes out a hard money bridge loan from Rockland Commercial Mortgages in order to remodel a property to re-sell in Los Angeles, CA. The deal has the following terms:

$360,000 purchase price
50% loan to value (LTV)
6 month term
14% rate of interest
5% origination fee

Bonita intends to list the property when the note expires for $450,000. If she accomplishes her goal, the deal numbers would be as follows:

$450,000 sales price
- $180,000 note principle (50% LTV)
- $180,000 cash paid at closing (50% on 50% LTV)
- $9,000 origination fee (5% of the $180,000 principle amount)
- $12,600 interest payments (6 months x 14% interest)
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= $68,400 total profit (does not include taxes or rehab costs)

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