Hard Money Rental Loans

Build a portfolio of passive income

Rent
30 year fixed product for stabilized properties

Interest Rate

from 7.5%

Origination fee

3%

Loan To Purchase Price

up to 80%

Loan To Value

up to 80%

Minimum DSCR

None

Instant Term Sheet

Yes

Term

30-yr fixed rate

Minimum Loan Amount

$100,000

Maximum Loan Amount

$2,000,000

Minimum FICO

680

Type of Property

Residential 1-4 units

Short Term Rentals

Yes

Benefits For Borrowers

Competitive Interest Rates

Instant Proof of Funds Letter

Instant Online Term Sheet

Cash Out Refi

No Experience Required

No Junk Fees

All Loan Products

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Fix & Flip

Funds for purchase + rehab or refinance + rehab

Get up to $5,000,000

Interest rate 9.5 - 12.75%

Origination fee from 1.875%

Up to 100% construction

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Rent

30 year fixed product for stabilized properties

Get up to $2,000,000

Interest rate from 7.5%

Origination fee 3%

30-year fixed rate

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Ground Up

Construction loans for residential builders

Get up to $5,000,000

Interest rate 9.5 - 13.25%

Origination fee from 1.875%

Up to 24 months

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Personal

Unsecured personal loan marketplace

Get up to $100,000

Starting at 7% APR

No collateral required

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Frequently Asked Questions

Yes, for both refinances and new purchases New Silver can provide financing for short term rentals.

Yes, a full appraisal from an approved Appraisal Management Company with interior access and market rent addendum is required.

For the rental program, New Silver has a minimum loan amount of $100k and as-is value of $100k.

Typically there is a 5-4-3-2-1 step down prepayment penalty. In this scenario, the borrower is responsible for paying a penalty of 5% of the outstanding balance if prepaying in the first year, 4% in the second year, 3% in the third year, 2% in the fourth year and 1% in the fifth year.  The borrower will have the option to decrease the prepayment penalty with an increase in the interest rate.

In short, No. New Silver can now offer loans without a minimum DSCR, however, the most favorable terms are available for loans with a DSCR of at least 1. Debt service coverage is calculated as the lesser of market rent and rent in place divided by property taxes, insurance, debt service, and HOA/COA (if applicable).

You need to be a US citizen or legal resident.

Yes. You can apply for a Rent loan and indicate the market rent, and even if DSCR is below 1, you may qualify for a loan for your short term rental property.