Getting Started With New Silver
Learn About The Available Loan Products and Requirements
New Silver offers the following products to real estate investors. You can also click the link in each loan to get more detailed info.
- Fix and Flip - with or without rehab budget, for investors who want to buy, renovate and resell or refi 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 600+ if you have experience, 680+ otherwise.
- Rent - 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. Minimum loan amount is $100,000 and credit 680+. Single family (1-4 units) only.
- Ground up - 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 600+. At least 2 previous heavy rehab experience required.
- Personal - unsecured personal loan from a range of lender partners for home improvement and many other use cases. Lines of credit and term loans available. $1000 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. We require at least one of the guarantors to have a FICO score of 600+, or 680 and above if there is no previous fix and flip experience. We check credit for anyone with over a 20% ownership in the company. These loans are for non-owner occupied investment properties only. We do business in most states (we don't do business in these 10 states)
Get Answers To Frequently Asked Questions
See the most common questions below. You can always use the Chat icon in the lower-right to speak with us if you have more questions.
- Do you lend on primary residences? - No
- Can you finance multi-family properties? - Yes, read here
- Can you do 100% financing? - no, read here
- Do you lend against business assets, invoices or personal loans? - no, read here
- What is the minimum FICO score? - Read here.
- How do you calculate the maximum loan amount? - Read here
- What states do you lend in? - Read here
- How much money should I expect to put down when doing a new purchase? - Read here
- What type of documentation is required to get approved? Is income verification required? - Read here
- What are the typical closing costs? - Read here
- What kind of a credit pull do you do? - Read here
- Do you offer an instant proof of funds letter? - Yes, read here
- How fast can you close? - We have closed loans in under 5 business days on a rush basis however, it could take 10 business days or longer, depending on the area
- Do you finance commercial or mixed use property? - No. We only finance residential 1-50 unit.
- Do you work with brokers? - Yes, read here
More FAQs are available in our self-service portal.
Apply Online and Get Approved In 10 Minutes
After you have read about our loan programs and the frequently asked questions, you can start the online application and get pre-qualified. After you are pre-qualified online, you will have the option to schedule a call with a Loan Consultant, or, you can pay the $1 application fee and get approved online.