What exactly is New Silver? It is a hard money lender for real estate investors in Connecticut, Massachusetts, New York, New Jersey and Rhode Island. The platform boasts a simple online application process with approval in less than 10 minutes and closing in less than 7 days.
New Silver (newsilver.com) will reward you for referring others to the real estate loan provider. You’ll receive $15 per lead and $750 per loan sale. Keep reading down below to learn more.
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New Silver Quick Facts
| Loan Types | Hard money loans Fix and flip loans Commercial hard money loans Refinance/cash out loans Bridge loans |
| Property Types | Single family, multi family, apartment, office, mixed use, medical |
| Availability | CT, MA, RI, NJ, NY |
New Silver Referral Offers
New Silver provides hard money loans to real estate investors in under 10 minutes. Products include Fix and Flip, Rent, Ground Up and Unsecured Personal loans.
Fix and flip loans are for those who want to renovate, rehab and resell your property. There is no hard credit pull, and you can have no previous fix and flip experience. Discounts are available for repeat borrowers.
| Interest Rate | 6.99% to 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 | $3,000,000 |
| Minimum Loan Amount | $75,000 |
| Minimum FICO | 600 |
These loans are 30-year fixed for stabilized rental properties. Cash out refinance is available and previous experience is not required.
| Interest Rate | From 4.125% |
| Origination Fee | 3% |
| Loan To Project Cost | Up to 80% |
| Construction Financing | Up to 80% |
| Loan to ARV | 1 |
| Term | 30-year fixed rate |
| Type of Property | Residential 1-4 units |
| Maximum Loan Amount | $2,000,000 |
| Minimum Loan Amount | $75,000 |
| Minimum FICO | 680 |
New Silver provides ground up financing for residential builders. There’s no hard credit pull, and they offer discounts for repeat borrowers.
| Interest Rate | 8% to 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 | 24 months |
| Type of Property | Residential 1-4 units, condos, townhomes |
| Maximum Loan Amount | $3,000,000 |
| Minimum Loan Amount | $100,000 |
| Minimum FICO | 600 |
| APR | From 5.99% |
| Origination Fee | Varies |
| Collateral Required | No |
| Term | Up to 10 years |
| Type of Property | Residential 1-4 units, condos, townhomes |
| Maximum Loan Amount | $100,000 |
| Minimum Loan Amount | $1,000 |
| Type of Credit | Fair or better |
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Bottom Line
New Silver lends hard money to real estate investors. The application process is completed online with approval in less than 10 minutes. When you refer others to New Silver, you’ll earn $15 for every generated lead and $750 for every closed loan sale.
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