New Silver is a hard money lender serving Connecticut and Massachusetts. It has more than 20 years of combined real estate lending and investing experience. Rates range from 9.85% to 12%, and it lends up to 75% loan-to-value (LTV) ratio, 70% after repair value (ARV), and 100% loan-to-cost (LTC) ratio, depending on the type of project. It also funds loans within a week. No reviews were found online as of January 2019.
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|Business Name||New Silver|
|Business Address||Hartford, CT|
New Silver Rates & Terms
|Types of Properties||Residential 1-4 units|
|Loan Amount||Up to more than $350,000|
|LTV||Up to 75%|
|ARV||Up to 70%|
|Interest Rates||9.85% to 12%|
|Lender Fees||2% to 4.25%|
|Loan Terms||12 to 24 months|
|Minimum Qualifications||No qualifications indicated|
|Typical Time to Funding||Within a week|
|Other Financing Available||Fix-and-flip loan|
Cash-out refinance loan
*Exceptions may be granted. Lender information is updated often; however, exact lender terms may change.
Popular Hard Money Lenders 2019
Investors who want competitive rates and fast funding for residential fix and flips
Landlords wanting to refinance or grow their rental portfolio
Short-term investors looking for a good residential fix-and-flip hard money loan option
Investors who want great customer service with a local bank feel from a 44-state lender
Fix and flippers who want an alternative to LendingHome, but with a commercial component
Which Hard Money Lender is Right for You?
States Currently Lending In
Massachusetts, New York, New Jersey, Rhode Island, and Connecticut
About New Silver
New Silver is a hard money lender founded by entrepreneurs with experience in lending, flipping, and technology. With over 25 years of experience in their respective fields, New Silver created a technology and data-driven approach, with a simple online application process, and pioneered the “no nickel and diming” low fee structure.