Hard Money Lenders California

Yes. New Silver is a top rated direct hard money lender that offers short term loan products for house flipping projects, but we also have 30 year rental property loans for investment properties. We also cater to real estate entrepreneurs hoping to build multi-family apartments with our new construction loans.

Yes, New Silver is a private money lender that provides asset-based loans at scale. With asset-based lending, the underwriting process can be more lenient than conventional lenders. This is because the underlying value of the asset is more important than the financial background of the investor when setting the terms of a hard money loan.

As a result, the financing and credit score requirements of private money lenders are less stringent, income verification is not needed and the debt-to-income ratio of the borrower is far less important. Plus, we can get you approved and closed within 7 days. That's why we are one of the top rated California hard money lenders

Yes. We offer ground-up construction loans for real estate developers that build single family (1-4 unit) residential properties. Our private hard money loans are extremely convenient for new construction projects.

Yes. Our fix and flip loans can act as a bridge loan for real estate investors with a loan term ranging from 6 to 24 months in duration. More information can be found on the loan product page, together with the maximum loan amounts available.

The main reason hard money loans have higher interest rates than traditional loans is because of the risks involved in the transaction. Unlike a residential home purchase, a fix and flip project could run over budget or the real estate market could take a turn for the worse, making the property difficult to sell quickly.

In other words, you could potentially lose money with a fix and flip. This risk is applicable to the borrower and the direct hard money lender that you choose to work with. The higher interest rate compensates for this risk, which most conventional lenders are unwilling to take on. Hard money lenders effectively fill the gap, using an asset based lending model to fund real estate deals.

The origination fee (loan points) of a hard money loan is usually between 2-3%, but this varies with each deal. To work out the expected monthly payments of a hard money loan, it is best to use our hard money loan calculator.

On this point, it is also worth noting that the monthly payment of all short term New Silver hard money loans work on interest only payments. This helps reduce the cash flow burdens of the investor while the project is underway. Interest only payments are one of the best benefits that you can unlock by working with a reputable hard money lender like New Silver.

In short, yes. While the credit requirements of a hard money lender are not as stringent as a traditional lender, we do review the credit history of all our borrowers. If you’re worried about bad credit, it is best to look at our hard money loans product page to see if New Silver is a good fit for your needs.

You should find that our interest rates are lower than other hard money lenders. In addition, we don’t require income verification during the credit history check.

1. House Flipping Loan – Designed for house flippers
2. Rental Property Loan – 30 year loan for investment properties
3. Construction Loan – For new residential building projects
4. Personal Loan – Private loans for whatever you need

Right now, we do not specialize in commercial hard money loans. With that being said, our maximum loan amount should be big enough to cover both residential and commercial projects. In addition. we are one of the few hard money lenders that offers ground up construction loans.

To be more specific, our hard money loan product can cover projects from 1 - 50 units. If you are hoping to purchase more than 50 units, we can connect you with a partner that can help you get the capital you need to complete your project.