Need funding fast? Look no further than New Silver. New Silver has the perfect selection hard money loans for property investors in Illinois.
New Silver has a variety of different hard money loan products available to suit every Illinois real estate investor’s needs. Run by a team of experienced real estate professionals, our loans are well suited to real estate investors in IL.
Getting a traditional loan is a slow, drawn-out and exhausting process. At New Silver, our hard money loans are designed for real estate investors that value speed, efficiency and transparency. Offering house fix-and-flip, fix-to-rent and cash out refinance loans, our team of experienced real estate experts are available to get you capital and assist you with any hiccups that may come up along the way.
New Silver is unlike other hard money lenders in Florida. As licensed real estate investment professionals, we know what real estate investors need: quick and easy online applications, terms of up to twenty-four months and most of all, fast loan closing and attractive rates. At New Silver, we specialize in hard money loans for single-family residential, but we can also cater to multi-family and commercial real estate projects. Contact our Florida hard money lending team today to find the best loan fit for your next real estate project.
Ultimately, if you need fast, effecient, financing solutions with competitive interest rates, New Silver is the hard money lender for you.
For house flippers hoping to purchase a fixer upper to renovate and resell in in Illinois. Interest rates starting at 9.25%, LTC up to 85%, with loan terms up to 24 months.
Our home flipping loans work on interest only payments. Minimum credit score 600.
30 year rental loans for stabilized rental properties. Ideal for investors hoping to acquire an investment property. Interest starting at 5.875%, loan to purchase price up to 80%.
Maximum rental loan amount: $1,000,000. Minimum credit score 680.
For Illinois real estate investors who want to get their equity cash out. Interest starting at 9.25%, Loan-To-Value up to 75% and loan terms up to 24 months.
Gives investors in IL the ability to access their capital, with no junk fees and instant proof of funds letters.
Designed for residential builders, our ground up construction loans can finance up to 85% Loan To Cost (LTC). Interest rates starting at 10.5%.
The perfect solution for builders in Illinois that need capital quickly to fund construction costs.
It doesn’t matter if you’re a buy and hold investor or a house flipping specialist. New Silver is a hard money lender with a selection of real estate loans perfectly matched to meet your real estate investing needs. Unlike a conventional mortgage which can take ages to complete, our Hard Money Loans can be approved in less than 10 minutes, with an instant proof of funds letter to help you secure the purchase price. We are ready to help you solve your real estate investment needs.
Yes. New Silver offers short term loans for house flipping projects, but we also have 30 year loan product for investment properties. We also cater to real estate entrepreneurs hoping to build multi-family apartments with our new construction loans.
No. New Silver Lending LLC is not a private money lender. We are a direct lender that provides asset based loans at scale. With asset-based lending, the underwriting process can be a bit more lenient than conventional financing. This is because the underlying value of the asset (usually a house) has a stronger weighting than the financial background of the investor when setting the terms of the loan. As a result, the credit score requirements are less stringent than traditional home loan providers.
Yes. We offer ground-up construction loans for real estate developers that build commercial properties and multi-family apartments.
We have offered bridge loans in the past, but due to subdued interest this product is currently suspended. With that being said, if you would like to initiate a bridge loan with New Silver, simply email [email protected] and will get back to you quickly.
The main reason fix and flip loans have higher interest rates is because of the risks involved in the financial transaction. Unlike a residential home purchase, a fix and flip project could run over budget, the real estate market might 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 lender. The higher interest rate compensates for this risk.
The origination fee (loan points) is usually between 2-3%, but this varies with each deal. To workout the expected monthly payments, it is best to use our hard money loan calculator.
Ready to get started with your loan from New Silver? Get approved quickly.
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