Hard Money Lenders Delaware

Yes. New Silver is a private 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, we are a direct lender that provides asset-based hard money 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 the real estate loan.

As a result, the financing and credit score requirements of a hard money lender are less stringent, income verification is not needed and the debt-to-income ratio of the borrower doesn’t matter. Plus, we can get your hard money loan approved and closed within 7 days.

Yes. We offer ground-up construction loans for real estate developers that build single family (1-4 unit) residential properties.

The maximum loan amount for New Silver's construction loans is currently $5,000,000. This is usually sufficient for most residential building projects.

Yes. Our fix and flip hard money loans can act as a bridge loan for property investors with a loan term ranging from 6 to 24 months in duration. More information can be found on the loan product page.

Also, it's worth noting that a short term hard money loan is actually a bridge loan, but with a very specific purpose (helping property investors purchase fix-and-flip houses).

The main reason fix and flip hard money loans have higher interest rates than a traditional lender 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, a private investor could potentially lose money with a fix and flip. This risk is applicable to the borrower and the hard money lender. The higher interest rate compensates for this risk that a hard money lender is willing to take on.

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, it is best to use our hard money loan calculator.

On this point, it is also worth noting that the monthly payment of all New Silver hard money loans work on interest only payments. This helps reduce the cash flow burdens of Delaware real estate investors 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 our credit requirements of a hard money lender are not as stringent as a traditional lender, we do review the credit history of all the borrowers that apply for a hard money loan. If you’re worried about whether or not you qualify for a bad credit loan, it is best to look at our loan products page to see if New Silver is a good fit for your needs.

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
5. Rehab Loan - Home renovation loan for property investors

Right now, we do not specialize in commercial hard money loan products. With that being said, our maximum loan amount should be big enough to cover both residential and commercial projects.

Ultimately, it all comes down to the number of units. We provide property investors with capital for projects ranging from 1 to 50 units. If you're hoping to build a commercial building that exceeds 50 units, we can connect you with one of our partners in order to get you the capital you need to complete the project.