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New Silver serves real estate entrepreneurs in most areas of the Unites States. The founding team comes from technology, finance and real estate background, and streamlined the process with the client in mind. Starting with an easy online application that takes under 5 minutes to complete, the funding process can be done in under a week.
Property Geographic Area Details
All states except CA, NV, AZ, UT, SD, ND, ID, MN, OR
Loan Amounts
$75,000 to $3,000,000
Interest Rates
7.875% to 11.5%
Max Loan-To-Value
80%
Max Loan-To-Cost
90%
Origination Fees
1.75% to 3.5%
Loan Terms
3 months to 360 months
Lien Position
- 1st
Loan Purpose
- Investment Acquisition
- Investment Refinance
- Improve Subject Property
- Development Project
Property Occupancy
- Vacant
- Tenant Occupied 100%
Property Types and Loan Types
Collateral Types
- Residential Property
Property Types
- 2-4 Units Residential
- Condominium
- Mixed-Use
- Multifamily
- Office
- Single Family Residence
Loan Types
- Private Money
- Hard Money
- Commercial Bridge
- Residential Bridge
- Commercial Property Value Add
- Residential Fix and Flip
- Residential Rehab and Rent
- Commercial Ground-Up Construction
- Residential Ground-Up Construction
Purchase Loan
Max Loan-To-Purchase Price
89%Borrower Must Have Property Under Contract
noWill Provide Proof of Funds Letter
yesWill Consider Lending on Purchase from Auction
noAllowed Source of Borrower’s Equity
- Own Cash
- Equity in Another Investment Property
- Seller Financing
- Family
Rehab Value Add Loan
Experience Required
yesMinimum Number of Value-Add Projects Completed by Borrower
1Will Provide Funds for Renovation Costs
yesMax LTC for Renovation Costs
100%Interest Charged for Renovation Costs
Only on Funds DrawnTypical Number of Days for Funds Draw
2Maximum After Repair Value
70.00%Construction Loan
Development Experience Required
yesMinimum Number of Ground-Up Construction Projects Completed by Borrower
1Max LTC for Ground-Up Construction Costs
80%Interest Charged for Construction Costs
Only on Funds DrawnWill Lend on Partially Completed Construction Projects
noDetails and Requirements
Typical Closing Time (Days)
10Fastest Closing Time (Days)
5Works With
- Borrowers
Payment Structure
- Interest Only
- Amortized
- Interest Reserve
Pre Payment Penalty
no
Will lend to a foreign national
no
Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage
noWill Consider Collateralizing Multiple Properties in One Loan
noWill Consider Equity Joint Venture
no
Borrower Entity Types Considered
- Individual(s)
- LLC
- Limited Partnership
- Corporation
- Non-Profit Corporation
Documentation Required
- Credit Report
- Loan Application
Personal Guaranty (Recourse) Required
AlwaysCredit Check Required
yesMinimum Credit Score Required
550Appraisal Required for Residential Property
SometimesBroker Price Opinion (BPO) Accepted for Residential Property
SometimesFees
Underwriting Fee
$450.00 to $450.00
Renovation Construction Draw Fee
125
Fees which are mandatory for all new borrower clients
- Underwriting Fee
Fees which are charged upfront prior to loan closing
- Underwriting Fee
- Appraisal Fee
Fees which are paid to a third party company
- Legal Fee
- Renovation or Construction Funds Draw Fee
Legal Disclaimer
New Silver Lending, LLC makes business purpose loans and does not originate owner-occupied residential mortgage loans. Information, rates and pricing are subject to change without prior notice. All loans are subject to borrowers and underlying collateral meeting underwriting criteria. Other restrictions may apply.
New Silver is a tech-first non-bank loan originator, with a vision of making the private lending process easy for the borrower. New Silver’s technology allows borrowers to get approved for a loan online, in under 10 minutes, and close within 7 days. Technology and strong customer relationships give New Silver an edge in addressing the $70bn per year “fix and flip” real estate-backed lending space, with a focus on single family residential and small balance commercial investment properties located on the East Coast of the United States.
Company Size (Number of Employees)
10
Year Established
2013
Associations
- American Association of Private Lenders - Lender Member
Office Locations
Central Connecticut33 Hamlin Drive, West Hartford, Connecticut 06117
Southern CT
263 Tresser Boulevard, Stamford, CT 06901
MA
255 Cypress St, Brookline, MA 02445
Rhode Island
10 Dorrance Street Suite 700, Providence, RI 02903
Primary Capital Source
- Own Funds
- Other Private Lending Companies
- Hedge Funds
Loan Structure for Majority of Loans
- Own Balance Sheet
- One Investor One Loan
- Table Funding with Capital Partner
Percentage of company’s lending business focused on private mortgage
100%
Percentage of Loans Secured by Commercial Property
10%
Percentage of Loans Secured by Residential Property
90%
Percentage of Residential Property Loans Which are Fix and Flip
80%
Percentage of Residential Property Loans Which are Buy and Hold
20%
Total Number of Loans Funded to Date
57
Guy Neumann
Partner
Guy Neumann is an experienced investor who has personally flipped or rehabbed over 100+ homes in the past 5 years. Guy also brings a history of working in the real estate industry to New Silver. Guy’s skills in contracting, real estate development, general construction, and other facets of the real estate industry have proven invaluable to New Silver borrowers. Neumann is a strong entrepreneurship professional, graduating with a Bachelor of Applied Science (B.A.Sc.) focused in Finance and Economics from the University of Hartford.
Alex Shvayetsky
Partner
Alex Shvayetsky has a 25 year track record in real estate management, property development, and investment, all of which he applies to his work as part of the New Silver private money lending team. Alex’s successful fintech and real estate experience in property management now benefits New Silver borrowers across both Massachusetts and Connecticut. Alex holds qualifications in finance, mathematics and economics from the University of Connecticut and Brandeis University.
CT Real Estate Developer and New Silver Client since 2013
Its been a pleasure working with New Silver’s team for the past 4 years. True professionals, New Silver has been a valued partner, helping my real estate development business expand much faster then I anticipated.
860-969-4619