Bridge lenders
New Silver
New Silver is a private lender for residential real estate investors, offering fix-and-flip loans, DSCR rental loans and ground-up construction loans. It underwrites on the property rather than the borrower's income and issues a term sheet and a proof-of-funds letter online.
Approval runs through the company's own real-time pricing engine. The site advertises online approval in about five minutes, no hard credit pull on fix-and-flip and construction loans, and an instant proof-of-funds letter so a borrower can start making offers before a file is worked. Fix-and-flip loans go to 90% of cost with up to 100% of rehab, from 8.5%, in sizes of $100K to $5M. DSCR rental loans go to 80% LTV on a 30-year fixed rate with a 0.75 minimum DSCR, sized $150K to $3M, with no income verification and short-term rentals accepted. Construction loans start at 9.75% on an 18-month term.
New Silver was founded in 2018 and lends across the country, with dedicated pages for California, Colorado, Connecticut, Florida, Massachusetts, New Jersey, New York, North Carolina, Rhode Island, South Carolina, Tennessee, Texas and Washington. It publishes FlipScout, a free tool for finding investment properties, along with ARV, DSCR and flip calculators, and runs a white-label correspondent platform that lets partners quote, underwrite and close loans using New Silver's committed capital. The lending entity is New Silver Lending LLC, NMLS Company ID 2154545, with its headquarters on North Main Street in West Hartford, Connecticut.
The rates, leverage points and loan minimums shown on the site are starting points rather than quotes. Confirm current pricing, which products are available in your state, and what a term sheet commits either side to before relying on it in an offer.
Best for
Residential investors who want a term sheet and proof-of-funds letter in minutes and are comfortable with asset-based pricing. Less suited to commercial, multifamily or mobile home park borrowers, or to anyone whose deal falls below the published loan minimums.
What they do
- Fix-and-flip loans
- DSCR rental loans
- Ground-up construction loans
- Cash-out refinance on rental property
- Instant online proof-of-funds letters
- White-label correspondent lending for partners
- FlipScout property search tool
- Real estate investment calculators
Details
| Attribute | Value |
|---|---|
| Founded | 2018 |
| Licenses | NMLS Company ID 2154545 |
| How they charge | Fix-and-flip 8.5-11% with 1-1.75% origination; DSCR from 6% with 0-2% origination; construction 9.75-11.25%. |
What stands out
- Fix-and-flip loans go to 90% of cost with up to 100% of rehab, from 8.5%, sized $100K to $5M.
- DSCR rental loans go to 80% LTV on a 30-year fixed rate with a 0.75 minimum DSCR, sized $150K to $3M.
- Reports over $1 billion in loan applications processed and an average of 10 days to close.
- Reports a repeat borrower rate of over 50%.
- Founded in 2018; lends as New Silver Lending LLC, NMLS Company ID 2154545.