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.
Top Hard Money Lenders 2019
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.