Frequently Asked Questions

FAQs for borrowers

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27 articles in this collection
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How do I request a construction draw?

Learn how to request a draw online
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Updated over a week ago

What FICO scoring model do you use?

Vantage score, Fair Isaac or something else?
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Updated over a week ago

Do I need an LLC or an entity to apply for a loan?

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Updated over a week ago

How does a Personal loan work?

Information on unsecured personal loans
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Updated over a week ago

How do I calculate the maximum loan amount?

A detailed explanation of how maximum loan is calculated for collateralized loans
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Updated over a week ago

Can I add a co-borrower to my application?

Learn how to add a co-borrower online
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Updated over a week ago

Can you finance properties purchased at auction?

Learn about financing options for auction properties
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Updated over a week ago

Can you finance multi-family or commercial property?

Tell me more about options for financing multi family or commercial
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Updated over a week ago

Do you work with brokers?

How does New Silver work with brokers
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Updated over a week ago

Do you do 100% financing?

A common question about the amount of financing New Silver can offer
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Updated over a week ago

What is FlipScout?

learn more about FlipScout
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Updated over a week ago

What are the typical closing costs?

How much does a typical closing cost?
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Updated over a week ago

How does a Ground Up loan work?

more information about ground up construction loans
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Updated over a week ago

How much money should I expect to put down on a new purchase?

What is the minimum down payment?
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Updated over a week ago

How does a Refi loan work?

more information about Refinance loan
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Updated over a week ago

How does a Fix and Flip loan work?

more information about short term fix and flip loan
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Updated over a week ago

Do you provide construction financing?

Do you lend against construction or rehab or repair
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Updated over a week ago

How does the 30 year Rent loan work?

Learn more about the fixed rate low interest product for rental properties
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Updated over a week ago

What kind of a credit pull do you do?

Our credit pull will not effect your credit
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Updated over a week ago

What happens after I pay the application fee?

This is what happens after you pay the application fee
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Updated over a week ago

What is the minimum and maximum loan amount?

Learn about different loan amounts
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Updated over a week ago

What types of loan products do you offer?

Learn about the fix and flip, fix and rent, ground up construction and personal loans
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Updated over a week ago

What type of documentation is required? Is income verification required?

Do you check my income taxes, W2 or other documentation?
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Updated over a week ago

How do I apply for a loan?

Learn how to apply for a new loan with New Silver
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Updated over a week ago

What is the minimum FICO score required?

What is the minimum credit score or FICO score required to get a loan
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Updated over a week ago

What types of property can you lend against?

Describes the types of real estate collateral we can use when we fund a loan
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Updated over a week ago

What states do you lend in?

Learn about the states New Silver lends in
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Updated over a week ago