cogo capital review

[Brent Groeneweg]

I wanted to post my positive experience that with Cogo Capital.

my loan I was looking for was new construction loan (aka ground up project) since I am licensed general contractor it sometime very trying builder spec project funded with local banks.

send all paperwork they requested and got approved & did appraisal and it came in low.

This appraisal problems not anything new since AMC token over few years ago.

Due to low appraised value, it required addition 30k fund this project and I had gotten other places that offer private money offers. I went to other (Kalifornia ) lenders place offer better terms and rate when through same process  again got same point. Other lender initial terms paperwork were never what was on their  paperwork they requested way more money than 30 k addition that cogo capital was asking for bum appraisal . you think with higher appraised value that came in why do I put more down Kalifornia lender?

I did not close with kalifornia lender since I did not trust them and all terms were different when you’re ready to close.

Cogo capital did refund my loan application fee &cis fee Their real lender honest &fair people. I was offer opportunity to order another appraisal with cogo capital that says a lot there understanding of real-estate market and issues of value & perceived value that has been going on last few years  

[Chris Kraemer]

This is an old post, but my experience with COGO was so bad, I need to chime in and say it was terrible! They were slow, cumbersome, and impolite. Their appraisals always come in low from what I hear, and it did for me, too, which allows them to fund less than they promise.  I almost lost a deal and had to change lenders days prior to my deadline.