New Silver is a tech-first non-bank loan originator, with a vision of making the private lending process easy for the borrower. New Silver’s technology allows borrowers to get approved for a loan online, in less than 10 minutes, and close within 7 days. Technology and strong customer relationships give New Silver an edge in addressing the $70bn per year “fix and flip” real estate-backed lending space, with a focus on single family residential and small balance commercial investment properties located on the East Coast of the United States.

New Silver serves real estate entrepreneurs in most areas of the Unites States. The founding team comes from technology, finance and real estate background, and streamlined the process with the client in mind. Starting with an easy online application that takes under 5 minutes to complete, the funding process can be done in under a week.

New Silver is a technology company that provides fast financing to real estate investors who focus on different real estate types, such as fix and flipping residential projects, house constructions, rent and etc. New Silver’s proprietary software accelerates, automates and streamlines loan originations, while using data to reduce default risk. Furthermore, New Silver’s FlipScout tool uses intelligence in order to help find real estate investment projects with the highest ROI.

New Silver Details

Name: New Silver.

Associations: American Association of Private Lenders - Lender Member.

Loan Types Offered: Fix And Flip Loans, Rent Loans, Ground Up Construction Loans, Personal Loans, Hard Money Loans, Refinance/Cash Out Loans, New Construction Loans, Investment Property Loans, Bridge Loans, And etc.

Property Types Covered: Single Family, Multi Family, Apartment, Areas Served: CT, MA, RI, NJ, NY, CA, DC, IL, SC, AL, HI, GA, FL, DE, IA, MI, ID, ME, IN, KY, LA, WY, NC, MT, MS, MN, VA, TX, PA, MD, TN, NH, OH, AR, WV, WI.

Users Reviews: Trustpilot, New Silver Users, Google and etc.

Online Official Website: www.newsilver.com

Offline Office Locations:

• Central Connecticut

33 Hamlin Drive, West Hartford, Connecticut 06117.

• Southern CT

263 Tresser Boulevard, Stamford, CT 06901.

• MA

255 Cypress St, Brookline, MA 02445.

• Rhode Island

10 Dorrance Street Suite 700, Providence, RI 02903.

Lending Guidelines For New Silver

Below are the general loan guidelines published on the New Silver website. You may also decide to confirm all terms and rates directly with the lender when you sign up (In less than a minute).

Fix And Flip Loans

Renovate, rehab and resell your property. With or without rehab budget, for investors who want to buy, renovate and resell or refinance their property within 12-24 months. Minimum loan amount is $75,000 and minimum as-is value is $100,000. Single family or multi-family up to 50 units is acceptable, credit 620+ if you have experience, 680+ otherwise.

• Interest Rate = 6.99 - 9.5%.

• Origination Fee = From 1.875%.

• Loan To Project Cost = Up to 90%.

• Construction Financing = Up to 100%.

• Loan To ARV = Up to 80%.

• Term = Up to 24 months.

• Type of Property = Residential 1 - 4 units, Multi-family up to 50 units.

• Maximum Loan Amount = $5,000,000.

• Minimum Loan Amount = $75,000.

• Minimum FICO = 620.

• More = Interest Only Payments, No Hard Credit Pull, Refinance or New Purchase, No Previous Fix and Flip Experience Required, No Junk Fees, Instant Proof of Funds Letter, Discounts for Repeat Borrowers.

Rent Loans

30 year fixed product for stabilized properties. Perfect for investors who want to buy or refinance a stabilized (no rehab) property. This is a 30 year fixed loan with rates starting in the 5s. New Silver Minimum loan amount for rent is $75,000 and credit 680+, Single family (1 - 4 units) only.

• Interest Rate = From 4.125%.

• Origination Fee = 3%.

• Loan To Purchase Price = Up to 80%.

• Loan To Value = Up to 80%.

• Minimum DSCR = 1.

• Term = 30 yr fixed rate.

• Type of Property = Residential 1 - 4 units.

• Maximum Loan Amount = $2,000,000.

• Minimum Loan Amount = $75,000.

• Minimum FICO = 680.

• More = Cash Out Refinance, No Previous Experience Required, No Junk Fees, Instant Proof of Funds Letter.

Ground Up Construction Loans

Financing for residential builders. Perfect for experienced investors who want to do new construction. Term up to 12 months Minimum loan amount is $100,000, Single family only, Credit 620+. At least 2 previous heavy rehab experiences required.

• Interest Rate = 6.99 - 9.5%.

• Origination Fee = From 1.875%.

• Loan To Cost (LTC) = Up to 90%.

• Construction Financing = Up to 100%.

• Loan To ARV = Up to 80%.

• Term = 24 months.

• Type of Property = Residential 1 - 50 units, Condos, Town homes.

• Maximum Loan Amount = $5,000,000.

• Minimum Loan Amount = $100,000.

• Minimum FICO = 620.

• More = Must be Shovel Ready, No Hard Credit Pull, Previous Experience Required, Interest Only Payments, No Junk Fees, Instant Proof of Funds Letter, Discounts for Repeat Borrowers.

Personal Loans

Unsecured Personal Loans. Unsecured personal loan from a range of lender partners for home improvement, and many other use cases. Lines of credit and term loans available. $1,000 to $100,000, APR starting at 5.99%.

If you don't meet the minimum credit or experience requirement, you can add a co-borrower guarantor. New Silver require at least one of the guarantors to have a FICO score of 620+, or 680 and above if there is no previous fix and flip experience. They check credit for anyone with over a 20% ownership in the company. These loans are for non-owner occupied investment properties only. They do business in most states.

• APR = Starting From 5.99%.

• Origination Fee = Varies.

• Collateral Required = No.

• Types of Loans = Term, Line of Credit.

• Type of Credit = Fair or better.

• Maximum Loan Amount = $100,000.

• Minimum Loan Amount = $1,000.

• Final Approval Time = 48 hours.

• More = No Hard Credit Pull, Instant Online Pre-Approval, Compare Multiple Lenders, Home Improvement Allowed.

Hard Money Loans

• Loan Amounts = $75,000 - $3,000,000.

• Available Rates = 6.99% - 9.5%.

• Typical Terms = 12 months - 24 months.

• Points Charged = 1.875% - 3%.

• Maximum Loan-to-Value (LTV) = 90%.

• Maximum Loan-to-Cost (LTC) = 90%.

• Owner Occupied Allowed = No.

• Interest Only Loans = Yes.

• Prepayment Penalties = No.

• Minimum FICO Score = 600.

• Time to Close = 5 Days.

Refinance/Cash Out Loans

• Loan Amounts = $75,000 - $3,000,000.

• Available Rates = 6.99% - 9.5%.

• Typical Terms = 12 months - 24 months.

• Points Charged = 1.875% - 3%.

• Maximum Loan-to-Value (LTV) = 90%.

• Maximum Loan-to-Cost (LTC) = 90%.

• Owner Occupied Allowed = No.

• Interest Only Loans = Yes.

• Prepayment Penalties = No.

• Minimum FICO Score = 600.

• Time to Close = 5 Days.

New Construction Loans

• Loan Amounts = $100,000 - $3,000,000.

• Available Rates = 6.99% - 9.5%.

• Typical Terms = 12 months - 24 months.

• Points Charged = 1.875% - 3%.

• Maximum Loan-to-Value (LTV) = 90%.

• Maximum Loan-to-Cost (LTC) = 90%.

• Owner Occupied Allowed = No.

• Interest Only Loans = Yes.

• Prepayment Penalties = No.

• Minimum FICO Score = 600.

• Time to Close = 5 Days.

Investment Property Loans

• Loan Amounts = $75,000 - $3,000,000.

• Available Rates = 4.125% - 6%.

• Typical Terms = 60 months.

• Points Charged = 2.5% - 3%.

• Maximum Loan-to-Value (LTV) = 80%.

• Maximum Loan-to-Cost (LTC) = 80%.

• Owner Occupied Allowed = No.

• Interest Only Loans = Yes.

• Prepayment Penalties = No.

• Minimum FICO Score = 680.

• Time to Close = 2 Weeks.

Bridge Loans

• Loan Amounts = $75,000 - $3,000,000.

• Available Rates = 6.99% - 9.5%.

• Typical Terms = 12 months - 24 months.

• Points Charged = 1.875% - 3%.

• Maximum Loan-to-Value (LTV) = 90%.

• Maximum Loan-to-Cost (LTC) = 90%.

• Owner Occupied Allowed = No.

• Interest Only Loans = Yes.

• Prepayment Penalties = No.

• Minimum FICO Score = 600.

• Time to Close = 5 Days.

Loan Examples

The following loans are for education purposes only. They do not represent actual loans executed by New Silver.

Loan Example 1

Jan finds a townhome in Boston, MA to remodel and re-sell. Since she doesn't have enough cash available to buy the $230,000 property outright, she takes out a hard money loan from New Silver.

Since the lender sets a 50% loan to value, Jan will be required to put 50% down and the total amount of the loan will be $115,000. The loan also has the following features: 1) a 12 month length, 2) a 14% interest only note, and 3) a five point origination fee.

In addition to paying the $5,750 origination fee, Jan will also need to fund $115,000 of the purchase with her own money, or 50% of the purchase price. After the loan closes, she will need to pay the lender $1,342 in monthly interest payments, or 14% times $115,000 divided by 12 months in the year.

Jan's intention is to finish the remodel within the 12 months and re-sell it for $322,000. If she succeeds she will make a profit of $70,150 ($322,000 price - $115,000 principle amount - $115,000 funds brought to closing - $5,750 origination fee - $16,100 in total interest payments.

Loan Example 2

Shane finds a townhouse in Boston, MA to remodel and resell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from New Silver with the following parameters:

A) A $160,000 purchase price.

B) A 50% loan-to-value (LTV).

C) A 12 month term.

D) A 10% interest rate.

E) A 3% origination fee.

Once the renovation project is completed, if Shane sells the project for $224,000, the outcome would be the following:

$224,000 sales price

- $80,000 loan principle (50% LTV).

- $80,000 down payment (50% on 50% LTV).

- $2,400 origination fee (3% of the $80,000 principle).

- $8,000 total interest paid (12 months x 10% interest).

-----------------------

= $53,600 total profit (does not include taxes or rehab costs).

Locations In The United States Of America

• Alabama.

• Alaska.

• Arizona.

• Arkansas.

• California.

• Colorado.

• Connecticut.

• Delaware.

• District of Columbia.

• Florida.

• Georgia.

• Hawaii.

• Idaho.

• Illinois.

• Indiana.

• Iowa.

• Kansas.

• Kentucky.

• Louisiana.

• Maine.

• Maryland.

• Massachusetts.

• Michigan.

• Minnesota.

• Mississippi.

• Missouri.

• Montana.

• Nebraska.

• Nevada.

• New Hampshire.

• New Jersey.

• New Mexico.

• New York.

• North Carolina.

• North Dakota.

• Ohio.

• Oklahoma.

• Oregon.

• Pennsylvania.

• Rhode Island.

• South Carolina.

• South Dakota.

• Tennessee.

• Texas.

• Utah.

• Vermont.

• Virginia.

• Washington.

• West Virginia.

• Wisconsin.

• Wyoming.

I’m happy you came to the end of this article. New Silver is the best choice for you, and any type of housing loans that you want would be granted to you in less than 10 minutes. They’re 100% legit and guaranteed. No second thought required before requesting a loan from them.

You can check other users’ reviews above this page, and know why they recommend the company. You can sign up to their official website using the button below, and then decide to request for a loan.

Wish you the best in life, including financial, and have a wonderful day.

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