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.

Loan Amounts

$75,000 to $5,000,000

Interest Rates

9.75% to 12%

Max Loan-To-Value

75.00%

Max Loan-To-Cost

90.00%

Origination Fees

1.75% to 4.5%

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
  • Commercial 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

Specialty Loan Types

  • Cannabis Use Properties
  • Subdivisions

Purchase Loan

Max Loan-To-Purchase Price

89.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

yes

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Equity in Another Investment Property
  • Seller Financing
  • Family

Rehab Value Add Loan

Experience Required

yes

Minimum Number of Value-Add Projects Completed by Borrower

1

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

100.00%

Interest Charged for Renovation Costs

Only on Funds Drawn

Typical Number of Days for Funds Draw

2

Maximum After Repair Value

70.00%

Construction Loan

Development Experience Required

yes

Minimum Number of Ground-Up Construction Projects Completed by Borrower

1

Max LTC for Ground-Up Construction Costs

80.00%

Interest Charged for Construction Costs

Only on Funds Drawn

Will Lend on Partially Completed Construction Projects

no

Details and Requirements

Typical Closing Time (Days)

10

Fastest Closing Time (Days)

5

Works 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

no

Will Consider Collateralizing Multiple Properties in One Loan

no

Will 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

Always

Credit Check Required

yes

Minimum Credit Score Required

550

Appraisal Required for Residential Property

Sometimes

Appraisal Required for Commercial Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

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 Connecticut
33 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.

Connecticut

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

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(temp use, storage, billboard, parking, etc.)

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If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

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how will the loan be paid off?

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