Hard Money Lenders New Jersey

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 loans at scale. With asset-based lending, the underwriting process can be more lenient than conventional lenders. With asset based lending, 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 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 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 from 12 to 24 months in duration. More information can be found on the loan products page.

The main reason fix and flip loans have higher interest rates than a conventional loan 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 lender. The higher interest rate compensates for this risk.

The origination fee (loan points) is usually between 2-3%, but this varies based on the loan term, the loan amounts and the credit history of the investor. 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 each New Silver hard money loan program works on interest only payments. This helps reduce the cash flow burdens of the investor while the project is underway.

In short, yes. While our credit requirements are not as stringent as a traditional lender, we do review the credit history of all our borrowers when setting the terms of our lending solutions. With that being said, if are an experienced investor, it may result in a lower private money interest rate. This is mainly because a seasoned investor is more likely pay back the loan in full. If you’re worried about bad credit, it is best to look at our loan products page to see if New Silver is a good fit for your needs.

1. House Flipp Loan – Short term 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 – Unsecured personal loans for whatever you need

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.