COGO Capital

About COGO Capital

Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including loans with a maximum LTV of 65%. They do not require borrowers to have a minimum credit rating to obtain a loan. The focus of their loans is for single family homes and multi-family units.

Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans

Property Types Covered: Single Family, Multi Family

Areas Served: AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV, WY

Licenses: California BRE License #: 01928542, NMLS #: 1051036, Arizona Mortgage Broker License # 0950084

Lending Guidelines for COGO Capital

Below are the general loan guidelines published on the COGO Capital 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 COGO Capital.

Loan Example 1

COGO Capital makes a fix and flip loan to Gail for a renovation project in Houston, TX, on a house that costs $300,000. The terms of the loan include a 80% loan to value (LTV), so she must contribute 20% of the price as cash to closing, making the principle note amount $240,000. The terms of the loan dictate a 14% note for 6 months. They also stipulate a 2 point origination fee, that will also need to be paid when the property closes.

On top of the $4,800 origination fee, Gail will also fund $60,000 of the purchase with her own cash, or 20% of the purchase price. The lender will collect $2,800 in monthly interest from the Gail. This is calculated by taking the full note value of $240,000, multiplying that by the 14% interest rate, and then dividing that number by 12. Assuming she sells the remodeled project for $435,000 at the end of the 6 month term, her total profit (not accounting for remodeling costs) would be $113,400. This is calculated by taking the purchase price ($435,000) and subtracting the original principle ($240,000), the origination cost ($4,800), the cash she contributed to closing ($60,000), and the total interest payments ($16,800).

Loan Example 2

Jorge takes a fix and flip loan from COGO Capital in order to remodel a house to resell in Houston, TX. The deal has the following terms:

$210,000 purchase price
80% loan to value (LTV)
18 month term
13% interest rate
2% origination fee

Jorge plans to list the house at the end of the term for $304,500. If he achieves this goal, the final numbers will be as follows:

$304,500 sales price
- $168,000 loan principle (80% LTV)
- $42,000 down payment (20% on 80% LTV)
- $3,360 origination fee (2% of the $168,000 principle)
- $32,760 total interest paid (18 months x 13% interest)
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= $58,380 gross profit (does not include taxes or rehab costs)

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