Cox Property Capital

About Cox Property Capital

Cox Property Capital is a Cypress, Texas based hard money lender. They offer fix and flip loans from 7.19%, rental loans from 5.99%, and commercial loans with very competitive rates.

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

Property Types Covered: Single Family, Multi Family, Apartment, Office, Retail, Mixed Use, Warehouse, Industrial

Areas Served: Houston

Lending Guidelines for Cox Property Capital

Below are the general loan guidelines published on the Cox Property 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 Cox Property Capital.

Loan Example 1

Cox Property Capital makes a hard money loan to Cornelia for a rehab project in Houston, TX, on a property that is listed for $300,000. The lender agrees to issue a note with a 80% loan to value (LTV) so they will extend $240,000 on the property. The parameters of the deal dictate a 13% note for 12 months. They also stipulate a 4 point origination fee, which will also have to be paid upon closing.

In addition to paying the $9,600 origination fee, Cornelia will also have to fund $60,000 of the purchase with her own funds, or 20% of the purchase price. After the loan is executed and Cornelia takes on the project, she will need to begin making payments each month of $2,600 to Cox Property Capital ($240,000 principle x 13% / 12 months). If Cornelia sells the renovated house for $390,000 at the end of the 12 month term, her gross profit (not accounting for remodeling costs) would be $49,200. This is calculated by taking the sales price ($390,000) and subtracting the principle ($240,000), the origination fee ($9,600), the funds she brought to closing ($60,000), and the total interest expenses ($31,200).

Loan Example 2

Ken takes out a loan from Cox Property Capital in order to remodel a townhouse to resell in Houston, TX. The deal has the following parameters:

$210,000 purchase price
70% loan to value (LTV)
18 month term
8% rate of interest
2% origination fee

Based on a $262,500 sales price after the 18 month term, the outcome for this project would look like the following:

$262,500 sales price
- $147,000 principle (70% LTV)
- $63,000 down payment (30% on 70% LTV)
- $2,940 origination fee (2% of the $147,000 principle amount)
- $17,640 interest payments (18 months x 8% interest)
-----------------------
= $31,920 gross profit (does not include taxes or rehab costs)

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