Hard Money Lenders New Mexico
Fast New Mexico 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 property investors in New Mexico.
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 NM.
Get Approved OnlineLoan Programs
Fix & Flip
For house flippers hoping to purchase a fixer upper to renovate and resell in New Mexico. Interest rates from 10 – 12.75%, Loan-To-Cost up to 90%, with loan terms up to up to 24 months. Hard Money Refinance Loans also available.
- Get up to $5,000,000
- Interest rate 10 – 12.75%
- Origination fee from 1.50 - 1.75%
- Up to 100% construction
- More info
Rent
30-year rental loans for stabilized rental properties. Ideal for investors hoping to acquire an investment property. Interest rates from 6.125, loan-to-purchase price up to 80%. Built for buy and hold investors that purchase rental properties.
- Get up to $3,000,000
- Interest rate 6.125
- Origination fee 1 - 2%
- 30-year fixed rate
- More info
Ground Up
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 New Mexico that need quick access to capital to fund construction costs.
- Get up to $5,000,000
- Interest rate 10 - 13.25%
- Origination fee from 1.75 - 2%
- Up to up to 24 months
- More info
Hard Money Lenders New Mexico
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 fix and flip loans, investment property loans and construction 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 a top-rated New Mexico Hard Money Lender. 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 New Mexico hard money lending team today to find the best loan fit for your next real estate project.
Ultimately, if you need a fast closing hard money loan with competitive interest rates, New Silver is the hard money lender for you.
New Silver lends in these cities:
- Alamogordo
- Albuquerque
- Artesia
- Carlsbad
- Chaparral
- Clovis
- Deming
- Farmington
- Gallup
- Hobbs
- Las Cruces
- Las Vegas
- Los Alamos
- Los Lunas
- North Valley
- Rio Rancho
- Roswell
- Santa Fe
- South Valley
- Sunland Park
- And More
New Mexico Housing Market Overview
Average Home Value
$272,195
1-Year Home Appreciation
9.6%
Average
2 Bedroom Rent
$1,144
Average 4 Bedroom Rent
$1949
New Mexico Homes Are Reasonably Affordable: The average home value in New Mexico is $272,195. This is approximately $56,000 less than the average home value in the US ($328,745). As a consequence, New Mexico can be quite friendly to first time home buyers. The lower cost of homes effectively lowers the barrier to entry, opening up a wider array of potential buyers.
House Prices In New Mexico Are Stabilizing: Like so many states in the US, house prices in New Mexico experienced a notable spike from mid 2020 to mid 2022. The drastic increase in home values was directly impacted by the covid-19 pandemic, which resulted in low housing inventory. These undersupply conditions helped to drive the property prices upward for over 36 months.
However, the latest data indicates that house prices in New Mexico are either dropping or stabilizing in 2023. For instance, in July 2022 the average home price was $332,984, while at the end of January 2023, the average price dropped to $329,745. Based on these numbers, it’s reasonable to expect the New Mexico housing market to remain stuck in neutral for the next 3 – 6 months, and maybe even longer than that.
Median Home Price by MSA
MSA Name | Median Home Price | 1-Year Appreciation | 3-Year Appreciation |
---|---|---|---|
Albuquerque | $339,500 | 13.7% | 48.3% |
Farmington | $243,000 | 8.3% | 30.2% |
New Mexico Real Estate Market Analysis
Albuquerque Is A Hot Market: Both the 1-year appreciation rate (13.7%) and the 3-year appreciation rate (48.3%) in Albuquerque are impressive. Strong appreciation rates bode well for house flippers and long term rental investors.
Over the short term, the property price increase that occurs during the holding time effectively increases the profitability of the flip, almost acting like bonus profit. Over the long term, impressive appreciation rates increase the equity growth of the investment property. Whichever way you look at it, these stats are encouraging for property investors in Albuquerque.
New Mexico 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 one of the highest rated New Mexico hard money lenders 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 with a fast closing hard money loan.
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. As a private money lender, 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 private money 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.
As one of the most established New Mexico hard money lenders, we can offer a maximum loan amount of $5,000,000 for construction loans specifically.
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.
Importantly, fix and flip loans are effectively hard money bridge loans with a very clear purpose, namely, to help New Mexico real estate investors 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 private 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) 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 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 New Mexico 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.
- House Flipping Loan – Designed for house flippers
- Rental Property Loan – 30 year loan for investment properties
- Construction Loan – For new residential building projects
Right now, we do not specialize in commercial hard money loans. However, we can connect you with one of our commercial lending partners.
Where We Lend
Hard Money Loans Across The US
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- Washington DC
- West Virginia
- Wisconsin
- Wyoming
Apply for a loan at New Silver today!
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