WEST HARTFORD, Conn., March 1, 2020 /PRNewswire-PRWeb/ -- New Silver (https://newsilver.com/), the hard money lender known for its technology-first approach, will begin servicing real estate investors in the state of Pennsylvania. The Keystone State will join a list of East Coast states that include Connecticut, Massachusetts, New York, New Jersey, Rhode Island, and Florida where borrowers have benefited from their easy, online loan process. New Silver allows investors to get approved for a loan online in under 10 minutes, offers fast closing and terms up to 24 months with multiple loan options available to real estate investors.
"Pennsylvania is known for its buy and hold performance and is becoming something of a landlord's paradise. But it's also a space that holds a lot of potential for buyers - home values have been steadily increasing over the past few years and the regional economy is performing well. Home prices have increased by almost 12%, and are forecasted to continue doing so. This has been the driving factor in our decision to expand to this state," stated Kirill Bensonoff, Chief Operations Officer at New Silver.
New Silver offers a variety of loans for residential and small balance commercial projects. Powered by an automated loan underwriting software built in-house to streamline the loan process, New Silver borrowers are able to get loan approval and a proof of funds letter within minutes.
"New Silver is excited to bring Pennsylvania real estate investors the next generation of modern loan origination. Beyond the geographic expansion, borrowers can expect other exciting developments from us in the coming months," Bensonoff shared.
About New Silver
New Silver is a tech-first non-bank loan originator, with a vision of making the private lending process fast and 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. More info at https://newsilver.com
SOURCE New Silver
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