Hard Money Lenders Mississippi
Fast Mississippi Hard Money Loans
Ready to close in less than a week
- Interest rates 10 – 12.75%
- Credit score 650+
- Loan-to-Cost Up to 90%
- No income verification
- Get approved online in 5 minutes
- Instant proof of funds letter
- Interest only payments
Need financing for your upcoming real estate project? Get approved for a hard money loan in 5 minutes using our online application
Need funding fast? Look no further than New Silver. New Silver has the perfect selection hard money loans for Mississippi real estate investors.
New Silver has a variety of different hard money loan products available to suit the needs of any real estate investor. Run by a team of experienced real estate professionals, our loans are ideal for real estate investors in MS.Get Approved Online
Fix & Flip
For house flippers hoping to purchase a fixer upper to renovate and resell in Mississippi. Interest rates from 10 – 12.75%, Loan-To-Cost up to 90%, with loan terms up to 24 months. Hard Money Refinance Loans also available.
- Get up to $5,000,000
- Interest rate 10 – 12.75%
- Origination fee from 1.875%
- Up to 100% construction
- More info
30-year rental loans for stabilized rental properties. Ideal for investors hoping to acquire an investment property. Interest rates from 7.5, loan-to-purchase price up to 80%. Built for buy and hold investors that purchase rental properties.
- Get up to $2,000,000
- Interest rate 7.5
- Origination fee 2-3%
- 30-year fixed rate
- More info
Designed for residential builders, our ground up construction loans can finance up to 90% Loan-to-Cost (LTC). Interest Rates from 10 to 13.25%
The perfect solution for builders in Mississippi that need quick access to capital to fund construction costs.
- Get up to $5,000,000
- Interest rate 10 - 13.25%
- Origination fee from 1.875%
- Up to 24 months
- More info
Mississippi Hard Money Lenders
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 one of the highest rated Hard Money Lenders in Mississippi. 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. Our extremely efficient hard money loans can be the perfect fit for your next real estate project.
Ultimately, if you need fast closing hard money loan with competitive interest rates, New Silver is the hard money lender for you.
New Silver lends in these cities:
- Horn Lake
- Ocean Springs
- Olive Branch
Mississippi Housing Market Overview
Average Home Value
1-Year Home Appreciation
2 Bedroom Rent
Average 4 Bedroom Rent
Houses In Mississippi Are Affordable: The average home value in Mississippi is $163,052. This is less than half of the average home value in the US ($328,745). The direct result of such low prices is that Mississippi can be a great place for residential real estate investors to take their first steps on the property ladder.
Profit Gains Are Limited: Another consequence of low average home values is that the potential gross profit that you can make when executing a fix-and-flip is limited. The Mississippi market effectively dictates the final after repair value of the investment property.
To combat these market conditions, you need to be extremely prudent with the renovation budget at your disposal. Thinner margins require greater precision on behalf of the real estate investor. In addition, you need to establish a maximum offer price that allows enough room for renovations and a reasonable net profit.
Median Home Price by MSA
|MSA Name||Median Home Price||1-Year Appreciation||3-Year Appreciation|
Mississippi Real Estate Market Analysis
Jackson Could Be The Jackpot: Based on median house price, Jackson appears to be the top performing major metropolitan area in Mississippi. The median house price ($246,000) is considerably higher than the average home value in Mississippi ($163,052).
In addition, the 1-year appreciation rate (10.7%) and the 3-year appreciation rate (36.3%) are both very healthy.
Mississippi Real Estate Investor Associations
Reasons to Fund Your Investment Property with New Silver
It doesn’t matter if you are 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 online in less than 5 minutes, with an instant proof of funds letter to help you secure the purchase. We are ready to help you solve your real estate investment needs.
Frequently Asked Questions
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 private money loan.
As a result, the financing and credit score requirements of a private 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 you approved and closed with a hard money loan within 7 days.
Yes. We offer ground-up construction loans for real estate developers that build single family (1-4 unit) residential properties.
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.
It's worth pointing out that hard money loans are actually short term bridge loans, but with the express purpose of helping real estate investors purchase fix-and-flip properties.
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 hard money lender. 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) with Mississipi hard money lenders 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 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 hard money lenders 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 private money lenders. In addition, we don’t require income verification during the credit history check.
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 most residential investment properties.
It all comes down to the number of units. New Silver can supply investment property loans ranging from 1 to 50 units. If you are targeting a commercial building that exceeds 50 units, we can connect you with one of our partners in order to get the capital you need to secure the deal.
Where We Lend
Hard Money Loans Across The US
- District of Columbia
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
Apply for a loan at New Silver today!
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