New Silver
2475 Albany Ave #203B
West Hartford, CT 06117
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About New Silver
New Silver is a fintech that provides fast financing to real estate investors who focus on fix and flip residential projects. New Silver’s software accelerates, automates and streamlines loan originations, while using data to reduce default risk. You can get an immediate approval, term sheet and proof of funds, all online, within 5 minutes without having to talk to a salesperson. In addition, New Silver’s complimentary FlipScout software helps real estate investors find their next fix and flip and buy and hold project.
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Loan Types Offered: Hard Money Loans, Fix and Flip Loans, Refinance / Cash Out Loans, New Construction Loans, Investment Property Loans, Bridge Loans
Property Types Covered: Single Family, Multi Family, Apartment
Areas Served: National
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Lending Guidelines for New Silver
Below are the general loan guidelines published on the New Silver website. Please confirm all terms and rates directly with the lender.
Hard Money Loans
Loan Amounts: $100,000 - $5,000,000
Available Rates: 8% - 10.5%
Typical Terms: 12 months - 24 months
Points Charged: 1.875% - 3%
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 5 DaysFix and Flip Loans
Loan Amounts: $100,000 - $3,000,000
Available Rates: 8% - 10.5%
Typical Terms: 12 months - 24 months
Points Charged: 1.875% - 3%
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 5 DaysRefinance / Cash Out Loans
Loan Amounts: $100,000 - $3,000,000
Available Rates: 8% - 10.5%
Typical Terms: 12 months - 24 months
Points Charged: 1.875% - 3%
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 5 DaysNew Construction Loans
Loan Amounts: $100,000 - $3,000,000
Available Rates: 8% - 10.5%
Typical Terms: 12 months - 24 months
Points Charged: 1.875% - 3%
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 5 DaysInvestment Property Loans
Loan Amounts: $100,000 - $2,000,000
Available Rates: 7% - 10%
Typical Terms: 60 months
Points Charged: 2.5% - 3%
Max Loan-to-Value (LTV): 80%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 680
Time to Close: 2 WeeksBridge Loans
Loan Amounts: $100,000 - $3,000,000
Available Rates: 8% - 10.5%
Typical Terms: 12 months - 24 months
Points Charged: 1.875% - 3%
Max Loan-to-Value (LTV): 90%
Max Loan-to-Cost (LTC): 90%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: NO
Minimum FICO Score: 650
Time to Close: 5 Days -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by New Silver.
Loan Example 1
Jan finds a townhome in Boston, MA to remodel and re-sell. Since she doesn't have enough cash available to buy the $230,000 property outright, she takes out a hard money loan from New Silver. Since the lender sets a 50% loan to value, Jan will be required to put 50% down and the total amount of the loan will be $115,000. The loan also has the following features: 1) a 12 month length, 2) a 14% interest only note, and 3) a five point origination fee.
In addition to paying the $5,750 origination fee, Jan will also need to fund $115,000 of the purchase with her own money, or 50% of the purchase price. After the loan closes, she will need to pay the lender $1,342 in monthly interest payments, or 14% times $115,000 divided by 12 months in the year. Jan's intention is to finish the remodel within the 12 months and re-sell it for $322,000. If she succeeds she will make a profit of $70,150 ($322,000 price - $115,000 principle amount - $115,000 funds brough to closing - $5,750 origination fee - $16,100 in total interest payments.
Loan Example 2
Shane finds a townhouse in Boston, MA to remodel and resell. Since he does not have enough cash to buy the property outright, he takes a hard money loan from New Silver with the following parameters:
a) A $160,000 purchase price, b) a 50% loan-to-value (LTV), c) a 12 month term, d) a 10% interest rate, and e) a 3% origination fee.
Once the renovation project is completed, if Shane sells the project for $224,000, the outcome would be the following:
$224,000 sales price
- $80,000 loan principle (50% LTV)
- $80,000 down payment (50% on 50% LTV)
- $2,400 origination fee (3% of the $80,000 principle)
- $8,000 total interest paid (12 months x 10% interest)
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= $53,600 total profit (does not include taxes or rehab costs) -
by Dylan langone 04/23/2025
They charge outrageous fees, change numbers at the last minute, delay draws, appraise the wrong properties, the list goes on and on with this scam of a company.
They charge outrageous fees, change numbers at the last minute, delay draws, appraise the wrong properties, the list goes on and on with this scam of a company.by Hanna 10/02/2022
I worked with New Silver a couple of times in the past year, they were able to provide me a term sheet online within minutes of my application, and I was able to make offers right away. They delivered on everything as promised, I will remain a client for the long term.
I worked with New Silver a couple of times in the past year, they were able to provide me a term sheet online within minutes of my application, and I was able to make offers right away. They delivered on everything as promised, I will remain a client for the long term.by Carmen Smith 09/30/2022
I had my first experience with New Silver and I'll definitely be using them again! My loan was closed faster than I ever expected, and they provided an instant term sheet which was a great help. The team were professional and efficient. Thanks New Silver!
I had my first experience with New Silver and I'll definitely be using them again! My loan was closed faster than I ever expected, and they provided an instant term sheet which was a great help. The team were professional and efficient. Thanks New Silver!by Ari Trust Deed 11/28/2021
Invest in Trust Deeds at Action Funding Inc. and earn 10-12% on your money. Your name is on the deed of trust as beneficiary. AT LEAST YOU WILL KNOW WHAT PROPERTY YOU HAVE MADE A LOAN ON. Who in their right mind would loan hard money out at 6.99%? That means the trust deed investor is getting 6% or 6.5%? What a joke.
Invest in Trust Deeds at Action Funding Inc. and earn 10-12% on your money. Your name is on the deed of trust as beneficiary. AT LEAST YOU WILL KNOW WHAT PROPERTY YOU HAVE MADE A LOAN ON. Who in their right mind would loan hard money out at 6.99%? That means the trust deed investor is getting 6% or 6.5%? What a joke.by jack 04/05/2021
These guys are complete bozos. I applied for a loan and they don't know what ARV values are and their staff is made of complete morons that are not trained to evaluate a single deal. In addition they made you go through a online training platform and charge you $ before they pick up the phone and talk to you. Complete waste of time!!
These guys are complete bozos. I applied for a loan and they don't know what ARV values are and their staff is made of complete morons that are not trained to evaluate a single deal. In addition they made you go through a online training platform and charge you $ before they pick up the phone and talk to you. Complete waste of time!!by Michael P. 03/14/2019
We recently worked with New Silver to fund a loan for our real estate project. We were very pleased and hope the collaboration will continue.
We recently worked with New Silver to fund a loan for our real estate project. We were very pleased and hope the collaboration will continue.by Mike Glover 03/04/2019
I was able to quickly finance my flip! It was a real pleasure..Thank you!
I was able to quickly finance my flip! It was a real pleasure..Thank you!by Scott Ambrose 02/28/2019
I just went to the website and applied. I was approved within 2 days. A++ services. Thank you!
I just went to the website and applied. I was approved within 2 days. A++ services. Thank you!by Alex M. 02/27/2019
Closed on a fix and flip loan, no issues, pleasant services, fast funding.
Closed on a fix and flip loan, no issues, pleasant services, fast funding.
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