Fix-and-Flip Loans
- Approval can be received online in five minutes with no hard credit check
- Accepts co-borrower guarantors
- Offers a rewards program for repeat borrowers
- Not available in AL, AK, AZ, ID, LA, MN, NV, ND, OR, SD, UT, or VT.
- An origination fee of at least 1.875%
| Rates (APR) | 10% – 12.75% |
| Loan amounts | $100,000 – $5,000,000 |
| Repayment terms | Up to 24 months |
| Min. credit score | 650 |
New Silver provides fast and convenient loans to real estate investors, including fix-and-flip loans, 30-year rent loans, and ground-up construction loans.
New Silver is relatively new to the scene—it was founded in 2018 by Kirill Bensonoff and Alex Shvayetsky. The company aims to improve communities through its flexible and fast loans for real estate investors, with hallmark services like instant loan approval and proof of funds.
The New Silver platform also helps connect investors with properties that offer great value. Here’s a closer look at New Silver’s offerings.
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About New Silver hard money loans
New Silver offers hard money loans to real estate investors with competitive interest rates and terms. Loan amounts as high as $5 million make it easy to make sizable investments for rehab and new construction, and New Silver’s rent loan has no minimum debt-service coverage ratio (DSCR), which means you don’t need to demonstrate any cash flow to secure the loan for rental properties.
Some other notable hallmarks for New Silver hard money loans:
- 24-month repayment terms for fix-and-flip and ground-up construction loans
- Up to 90% loan to cost (LTC) for fix-and-flip and ground-up construction, which means you can finance up to 90% of the total project cost
- Up to 80% loan to ARV (after-repair value) for fix-and-flip and new construction (based on estimated value)
- 30-year fixed rate for rent loans, including short-term and vacation rentals
New Silver fix-and-flip loan
New Silver fix-and-flip loans are available to investors interested in purchasing and rehabbing a property on the market or refinancing and renovating a property they already own.
Loan amounts range from $100,000 to $5 million, with origination fees as low as 1.875%. Interest rates range from 10% to 12.75%, and loan terms are set at 24 months.
| Term | Details |
| Loan amounts | $100,000 – $5 million |
| Rates (APR) | 10% – 12.75% |
| Repayment terms | 24 months |
| Loan to cost (LTC) | Up to 90% |
| Construction financing | Up to 100% |
| Loan to ARV | Up to 80% |
| Fees | Origination fees starting from 1.875% |
| Minimum credit score | 650 |
| Type of property | Residential 1 – 12 units, condos, townhomes |
| Unique features | Instant proof of funds letter, instant term sheet, no hard credit pull |
New Silver rent loan
New Silver also offers 30-year fixed loans for rental properties ranging from $150,000 to $3 million. This can include short-term and vacation rentals. Rates start as low as 7.5%, and there’s no minimum DSCR. You will, however, need a credit score of at least 660.
| Term | Details |
| Loan amounts | $150,000 – $3 million |
| Rates (APR) | Starting from 7.5% |
| Repayment terms | 30-year fixed rate |
| Loan to purchase price | Up to 80% |
| Construction financing | Up to 80% |
| Minimum DSCR | None |
| Fees | Origination fees from 2% – 3% |
| Minimum credit score | 660 |
| Type of property | Residential 1 – 8 units |
| Unique features | Cash out refinance, instant proof of funds letter, competitive interest rates |
New Silver ground-up loan
The final hard money loan offered by New Silver is a ground-up construction loan with up to 100% construction financing. This is reserved for experienced investors who can invest in entirely new properties, including residential, condos, and townhomes.
| Term | Details |
| Loan amounts | $100,000 – $5 million |
| Rates (APR) | 10% – 13.25% |
| Repayment terms | 24 months |
| Loan to cost (LTC) | Up to 90% |
| Construction financing | Up to 100% |
| Loan to ARV | Up to 80% |
| Fees | Origination fees from 1.875% |
| Minimum credit score | 650 |
| Type of property | Residential 1 – 4 units, condos, townhomes |
| Unique features | Up to 100% construction financing, discounts for repeat borrowers, no hard credit pull |
How do New Silver small business loans work?
New Silver’s mission is “fast, convenient, and flexible” lending for investors—and it means it. The website provides ample information about the three loan types offered, a comprehensive FAQ section, and a seamless application process that’s entirely online and only takes 5 minutes.
You don’t need to worry about income verification with New Silver; instead, the lender will analyze the value of your property collateral and do a soft credit pull. (That’s right: No hard credit check for approval!)
You’ll get an approval decision in minutes and funding in roughly five days, though you’ll get instant proof of funds for all three loan types.
New Silver also offers a cutting-edge platform to help investors make real estate decisions for future properties (the technology is called FlipScout and can come in handy if you need help finding new investment opportunities). Repeat customers can also get a number of perks, including:
- Interest rate discounts
- Origination fee discounts
- Free appraisals
- Closing cost credits
The flip-and-fix loan is available for purchase or refinance if you plan to rehab. Terms are 24 months. Ground-up construction loans are also 24 months and offer up to 100% construction financing. Rent loans for stabilized properties are 30 years, and they’re available for short-term and vacation rentals.
Pros and cons of New Silver real estate investor loans
Based on New Silver reviews from customers and our own analysis, we find the lender to be a wise option for real estate investors. Still, it’s important to weigh the pros and cons before making a big investment decision.
Pros
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Quick approval and funding
Approval decisions in minutes and funding in roughly 5 days.
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Instant proof of funding
You’ll also get instant proof of funding if approved.
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Several loan options
New Silver offers hard money loans for purchase and rehab, refinance and rehab, 30-year rent loans for stabilized properties, and ground-up construction loans.
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Discounts and benefits
Repeat investors can enjoy discounted interest rates, origination fees, and more.
Cons
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New to the industry
The fintech company is less than a decade old, so it doesn’t have a long history of lending.
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Need good credit
Loans are only available to investors with a 650 score or higher.
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Down payment required
You’ll generally need to put at least 15% down.
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Limited availability
Loans are not available to investors in Alaska, Arizona, Idaho, Nevada, Minnesota, North Dakota, Oregon, South Dakota, Utah, and Vermont.
Is New Silver a reputable lender?
New Silver is a relative newcomer to real estate lending. Still, the company has already garnered a positive reputation for its fast funding and helpful online platform for finding new investment properties. That said, it’s always a good idea to consult customer reviews when considering a new lender.
If you have colleagues who also invest in real estate, reach out to hear their experiences with New Silver and other hard money lenders for real estate investors.
The table below shows New Silver reviews across Trustpilot, Facebook, and Better Business Bureau, all of which are good to consult when making any lending decision.
| Source | Customer rating | Number of reviews |
| Trustpilot | 4.2 out of 5 | 73 |
| 4.1 out of 5 | 24 | |
| Better Business Bureau | B | Not specified |
Does New Silver have a customer service team?
New Silver’s website does not list a dedicated customer service team. No chat windows pop up as you browse offering help, and the website does not have a dedicated contact page. However, New Silver does list two ways to contact the company in the footer of the website:
- Call: 855-844-LOAN
- Email: [email protected]
You can also contact New Silver on various social media platforms, including LinkedIn, Facebook, and X (formerly Twitter).
How to apply for a New Silver small business loan
Once you figure out which type of loan you need and if you’re likely to qualify, you’ll just need to gather some basic documentation, including:
- Your construction budget
- A liquidity statement that demonstrates you have sufficient funds to begin the project
- Proof of previous experience
- Purchase and sale (P+S) contract
- Proof of insurance, LLC operating agreement, and other relevant docs (New Silver can help with these!)
The application process is entirely online and takes only 5 minutes. You’ll get an approval decision just as quickly.
What if I’m denied a small business loan from New Silver?
If you’re denied a small business loan from New Silver, it’s possible you don’t have a high enough credit score or that you don’t have the background required for the project you want to undertake. New Silver may also not be interested in the property you want to invest in.
But don’t sweat it: There are other hard money lenders you can apply with, and because New Silver only does soft credit pulls, your credit score won’t drop even though you’ve been denied the loan.
You may also be able to fix and flip your house with a traditional cash-out refinance. Here are some of the best cash-out refinance companies to get you started.
Are you dead-set on New Silver? You can always try again. Continue to work on your credit score, use New Silver’s proprietary program to find potential projects to invest in, and apply again when you’re ready.
New Silver FAQ
What kind of small business loans does New Silver offer?
New Silver offers several types of flexible small business loans, including short-term fix-and-flip loans, 30-year rent loans, and ground-up construction loans.
Does applying with New Silver hurt my credit?
When applying for a loan with New Silver, initial applications don’t affect your credit score. However, after you’re preapproved, actual loan offers may require a hard credit check. These hard checks can lower your credit score by several points, often for a few months.
What can New Silver small business loans be used for?
You can use New Silver’s small business loans to renovate, rehab, and resell your property, build a new property, or finance a rental property.
How long does it take to receive funds from New Silver?
Getting funds from New Silver can be efficient, taking as few as 10 business days—faster than many traditional lenders. It’s imperative for businesses, particularly smaller ones, to have prompt financial support when seizing new growth opportunities.