What is a Proof of Funds Letter?
Proof of Funds letters are frequently required by real estate agents prior to them agreeing to submit any offers to sellers. Many times Proof of Funds letters are required along with a purchase offer contract in real estate transactions.
Cogo Capital® makes it incredibly easy to generate a Proof of Funds letter to provide to real estate agents or other interested parties.The intended use for our Proof of Funds letter is to give you, the investor, a letter to provide to the necessary parties involved in your real estate transactions that shows you are either pre-qualified or have the funds to purchase real estate.
Proof of fund letters are not available online for investment properties located in Arizona, Minnesota, Nevada, Oregon, South Dakota, Utah, and Vermont.Proof of funds letters are not available online for more than $500,000. If you enter an amount more that $500,000, it will be reduced to $500,000.Proof of funds letters for a single loan collateralized by more than a single property are not available online.Information required to complete a proof of funds letter includes: Your business or entity name (Cogo Capital does not provide funding on real estate investments to individuals, only enities), the investment property's full address and the expected loan amount.Please call COGO Capital at 800-747-1104 for more information on any of these listed limitations .Cogo Capital provides funds to investors for the purchase of non-owner occupied, residential property (investment property with four units or less) or commercial property (through partners) in most states. We are not responsible for the misuse of our Proof of Funds letter in anyway, nor will refunds be granted for typographical errors, any other inaccuracies, or for failing to comply with the notices above. A Proof of Funds Letter in no way obligates Cogo Capital to you in any way.
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