ROCK EAST GROUP LOAN PROGRAM

  • ACQUISITION LOANS
  • RENOVATION LOANS
  • COMMERCIAL LOANS

With over twenty years’ experience in lending to active investors, Rock East Group has established itself as the premier private lender in the NY Tri-state area and Florida.  Our enormous resources have enabled us to fund more than 10,000 loans aggregating more than $1 billion.  When the time comes, we will always be ready to fund your loan. Check out our Acquisition & Renovation Loans, as well as our Commercial Loans.

Terms

The loan is for one year, interest only, payable monthly (ACH is available).  The loan can be prepaid at any time without penalty.  At our discretion, the loan can be extended for two six month periods.  We will lend 80-90% of purchase, renovation and construction costs.

Requirements

Our investor must be an LLC or Corp.  All members or shareholders will be required to sign a personal guaranty.  We must have a first lien position on any property we fund.  

Appraisal

Each property must be appraised by one of our approved appraisers.  We work very closely with these appraisers and they understand the goals of the investor and the quick turnaround time we require to complete our underwriting.  Our investor is responsible for the appraisal fee.  

Payments

Interest payments are due each month the loan is outstanding.  Interest is calculated on a daily basis and an invoice will be sent to the investor on the 23rd of each month.  All payments will be made to our third party servicer.  

Closing

Our attorney will travel to the closing.  The investor will be responsible for all closing costs (title charges, lenders attorney fees, points, etc).  We will provide the investor with a funding sheet at least 24 hours prior to closing to show funds available at closing. The investor will execute the loan documents at closing.

Payoffs

When requesting a payoff you simply contact us and we will have one sent to you. We accept wires or bank transfers.

EXAMPLES OF OUR LOANS

Brooklyn, NY

$1,500,000 Loan Amount
Acquisition/ Construction of 4 Unit Condo

Loan to Cost 63%

Tuckerton, NJ

$110,000 Loan Amount
Purchase Single Family Residence

Loan to Cost 78%

Farmingville, NY

$182,000 Loan Amount
Purchase/Renovation Single Family Residence

Loan to Cost 88%

Weston, CT

$278,000 Loan Amount
Single Family Residence

Loan to Cost 87%

Brooklyn, NY

$1,071,000 Loan Amount
Purchase Single Family Residence

Loan to Cost 82%

Miami, FL

$200,000 Loan Amount
Single Family Residence

Loan to Cost 89%

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