New Silver

Category: Loan agency

Address: 255 Cypress St, Brookline, MA 02445, USA

Phone: +18558445626

Opening hours

Sunday: Open 24 hours

Monday: Open 24 hours

Tuesday: Open 24 hours

Wednesday: Open 24 hours

Thursday: Open 24 hours

Friday: Open 24 hours

Saturday: Open 24 hours

Reviews

Ryan Jackson

Aug 31, 2022

Great company to work with as a first time flipping investor. They worked with me through the processes. They are easy to contact if I have any questions and they respond quickly. I look forward to doing more flip with them.

Norman Simon

Jun 10, 2022

New Silver is quick to respond and easy to work with. They are a good partner for your projects!

Diego Gonzalez

Mar 31, 2022

I found New Silver through a google search and had great reviews so I figured I’ll leave mine also for future investors looking to do business with them. I have nothing but good things to say about New Silver, James was my loan officer and he definitely delivered what he promised from the first call. I could’ve closed my deal in less than 20 days if it wasn’t for the seller taking so long to clear tittle. Very simple process overall and less hassle than traditional banks, I’d definitely recommend them. Thank you James and team

Marie Blue

Feb 26, 2022

Very professional team that strives to meet your investment needs, I will use them continually!

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Questions & Answers

What are New Silver's interest rates?

Richard Stevens | Sep 15, 2021
New Silver | Mar 19, 2022

New Silver’s Fix and Flip loan rates range from 6.99-9.5%, Ground Up rates range from 6.99-9.5%, and Personal loans start in the 5% range.

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What types of loan products does New Silver offer?

Richard Stevens | Sep 15, 2021
New Silver | Sep 15, 2021

New Silver is a direct non-bank lender and offers asset-backed loans for fix and flip, ground up construction and rental investment property. We can work with residential properties ranging from 1 to 50 units.

What are the hard money loan requirements?

Richard Stevens | Sep 15, 2021
New Silver | Sep 15, 2021

The primary requirement is a FICO score of 600 or more. You also need to have the details of the property that you are intending to purchase, regardless of whether it is a fix & flip, or a rental property.

How do you calculate hard money loan monthly payments?

Richard Stevens | Sep 15, 2021
New Silver | Sep 15, 2021

With a hard money loan, your monthly repayment only covers the interest portion of the loan, which helps keep costs down while the project is underway. However, at the end of the loan, you pay back 100% of the capital amount that was borrowed.

What is a hard money loan?

Richard Stevens | Sep 15, 2021
New Silver | Sep 15, 2021

A hard money loan is a short-term loan that can be used to purchase fix and flip properties. In addition, there are also long-term hard money loans that are designed specifically for purchasing rental properties.

I am a "Newbie" in Fix & Flip. Do you fund Newbies? Do I have to establish an LLC first? How much do you fund for the purchase of the property and how much do you fund for the rehab? Do you fund "Ground Up" construction.

S L Martinez | Sep 15, 2020
New Silver | Sep 15, 2020

Yes we do ground up financing. We can fund people with no experience but the costs are higher and leverage is lower. You would need an LLC. I encourage you to get pre-qualified instantly on our website https://getfunded.newsilver.com/

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