New Silver DSCR Loan Review: Is It Worth It?

New Silver has quietly become one of the most flexible DSCR lenders in the market, particularly for investors who don't fit the traditional lending box. But with rates that can run higher than some competitors, the question is: does the flexibility justify the cost?

What Is New Silver?

New Silver is a private real estate lender founded in 2018, headquartered in New York City. The company focuses exclusively on real estate investors, offering fix-and-flip loans, bridge loans, and DSCR rental property loans. Since inception, New Silver has funded over $4 billion in loans across 40+ states.

Unlike some competitors that started as traditional lenders, New Silver was built from the ground up as a tech-enabled private lending platform. This DNA shows in their approach: faster decisions, more flexible underwriting, and a willingness to consider deals that traditional lenders won't touch.

New Silver DSCR Loan Product Details

Core Terms and Features

• Loan amounts: $75,000 to $5 million
• Interest rates: 7.75% - 12% (as of Q1 2026)
• Loan terms: 30-year fixed or 5/1, 7/1, 10/1 ARM options
• DSCR minimum: 0.75 (with higher down payment)
• Credit score minimum: 640 (some exceptions to 620)
• Maximum LTV: 80% (75% for DSCR < 1.0)
• Down payment: 20-25% depending on DSCR
• Property types: 1-4 units, condos, townhomes, single-family
• Locations: 40+ states (excludes some rural states)
• Closing timeline: 15-30 days

What Sets New Silver Apart

1. Lower DSCR Requirements
New Silver will finance properties with DSCR as low as 0.75—among the lowest minimums in the industry. This is valuable for investors in high-appreciation markets where cash flow is tight but equity growth is strong.

2. More Flexible Credit Standards
While the stated minimum is 640, New Silver has been known to work with borrowers in the high 620s with compensating factors like larger down payments or strong liquidity.

3. No Experience Required
New Silver doesn't require previous real estate investing experience, making them particularly attractive to investors buying their first rental property.

4. Foreign National Program
New Silver offers specialized programs for foreign nationals investing in U.S. real estate, though with higher rates and down payment requirements.

Interest Rates and Pricing

New Silver's rates are competitive but vary significantly based on your profile. Here's how pricing works:

Base Rate Factors

Credit Score Tiers:

• 740+: Base rate (currently around 7.75-8.5%)
• 700-739: +0.25-0.50%
• 680-699: +0.50-0.75%
• 660-679: +0.75-1.00%
• 640-659: +1.00-1.50%

DSCR Impact:

• DSCR ≥ 1.25: Best available rate
• DSCR 1.10-1.24: +0.25%
• DSCR 1.00-1.09: +0.50%
• DSCR 0.90-0.99: +0.75-1.00%
• DSCR 0.75-0.89: +1.25-1.75%

LTV Adjustments:

• 60-70% LTV: Rate reduction of 0.25%
• 70-75% LTV: Base rate
• 75-80% LTV: +0.25%

Fee Structure

Origination Points: 1.5-3 points depending on loan complexity and borrower profile. This is higher than some competitors but includes underwriting and processing.

Other Fees:

• Application fee: $0 (absorbed into origination)
• Processing: Included
• Appraisal: $400-$650
• Credit report: $50-$75
• Title and escrow: Market rate (paid to third parties)

Prepayment Penalties:
New Silver offers both prepayment penalty and no-prepayment penalty options. Expect 0.25-0.50% higher rate for the no-penalty option. Standard penalty structure: 3-2-1 step-down (3% in year 1, 2% in year 2, 1% in year 3, 0% after year 3).

Eligibility Requirements

Borrower Criteria

Credit History: Minimum 640 FICO with clean credit in the past 24 months. New Silver focuses on recent credit behavior rather than older issues. Borrowers with past bankruptcies or foreclosures may qualify if 3+ years have passed.

Reserves: Typically 6-12 months of PITIA depending on:

• Number of financed properties (more properties = more reserves)
• Credit score (lower score = more reserves)
• DSCR ratio (lower DSCR = more reserves)

Entity Structure: Loans can be made to individuals, LLCs, or trusts. New Silver is flexible with entity structures, though some additional documentation is required for corporate borrowing.

First-Time Investors: Explicitly allowed. New Silver doesn't penalize inexperienced investors with higher rates, though they may require slightly higher reserves.

Property Requirements

Condition: Property must be habitable and rent-ready. Light repairs are acceptable, but major renovations require New Silver's bridge loan product first.

Property Age: No maximum age, but properties built before 1950 may require additional inspection.

Eligible Property Types:

• Single-family residences
• 2-4 unit properties
• Condos (warrantable and some non-warrantable)
• Townhomes
• Planned unit developments (PUDs)

Ineligible Property Types:

• Co-ops
• Properties over 5 units
• Commercial properties
• Land or lots
• Properties with significant deferred maintenance

Geographic Restrictions: Available in 40+ states. Currently not available in North Dakota, South Dakota, Vermont, and some counties in other states. Check with New Silver for specific property locations.

DSCR Calculation Method

New Silver uses the standard DSCR formula but with some unique considerations:

Formula: Monthly Rent ÷ (P&I + Taxes + Insurance + HOA + any other property debt)

Rental Income: New Silver uses the lower of:

• Actual rent (with current lease agreement)
• Appraised market rent (from appraisal rental analysis)

Vacancy Factor: Unlike some lenders, New Silver does NOT apply a vacancy factor in the DSCR calculation, making it easier to qualify.

Example Calculation:

• Market rent: $2,800/month
• Actual lease: $2,700/month (New Silver uses $2,700)
• P&I: $1,950
• Taxes: $400
• Insurance: $150
• HOA: $0
• Total debt service: $2,500
• DSCR: $2,700 ÷ $2,500 = 1.08

Application and Underwriting Process

Timeline Breakdown

Day 1-2: Application Submission
Complete the online application form (15-20 minutes). You'll need basic property and personal information but no document uploads initially.

Day 2-3: Initial Review
New Silver's team conducts a soft credit pull and preliminary property review. You'll receive a Loan Estimate within 48-72 hours.

Day 3-7: Document Collection
Upload required documents through the online portal:

• Photo ID
• Lease agreement or rent roll
• 3 months bank statements
• Homeowners insurance quote
• LLC/Trust documents (if applicable)

Note: No tax returns, W-2s, or employment verification required.

Day 7-14: Appraisal
New Silver orders the appraisal. Most appraisals are completed within 5-7 business days. The appraiser will also provide a rental market analysis.

Day 14-20: Underwriting
The underwriting team reviews all documentation. Typical conditions include:

• Proof of insurance
• Updated bank statements
• Lease verification
• Entity formation confirmation

Day 20-25: Clear to Close
Once conditions are cleared, the loan is sent to closing. New Silver coordinates with the title company to schedule signing.

Day 25-30: Funding
After signing, the loan funds within 1-2 business days.

Average Total Timeline: 20-30 days, with most loans closing around the 3-week mark.

Underwriting Philosophy

New Silver takes a common-sense approach to underwriting. They focus on:

1. Property cash flow sustainability
2. Borrower liquidity and reserves
3. Recent credit behavior (not ancient history)
4. Property location and condition

They're more willing than traditional lenders to overlook:

• Complex income situations
• High DTI on other properties
• Past credit issues (if over 3 years old)
• Unconventional employment

Pros of New Silver DSCR Loans

1. Exceptional Flexibility

New Silver's willingness to work with lower DSCR ratios (down to 0.75) and credit scores (down to 620 with exceptions) makes them accessible to a wider range of investors.

2. No Real Estate Experience Required

Unlike lenders that offer better terms to experienced investors, New Silver treats first-time rental property buyers the same as seasoned pros—a significant advantage for newer investors.

3. Lower Stated Minimums

The 640 credit minimum and 0.75 DSCR minimum are among the lowest in the industry, opening doors for investors who can't qualify elsewhere.

4. Responsive Customer Service

New Silver maintains a dedicated account team for each loan. Borrowers consistently report faster email responses and clearer communication than with larger lenders.

5. Tech-Forward Platform

The online portal is intuitive and provides real-time status updates, reducing the "black hole" feeling common with some lenders.

6. Portfolio Loan Options

For investors with multiple properties, New Silver offers portfolio pricing and streamlined underwriting on subsequent loans.

7. Foreign National Program

One of the few DSCR lenders actively working with non-U.S. citizens, complete with specialized underwriting teams.

8. No Vacancy Factor Applied

By not reducing rental income by a vacancy factor in DSCR calculations, New Silver makes it easier to qualify compared to lenders who apply 5-10% vacancy deductions.

Cons of New Silver DSCR Loans

1. Higher Average Rates

New Silver's rates typically run 0.25-0.75% higher than the most competitive DSCR lenders like Visio or Lima One. For borrowers with strong credit and DSCR ratios, this can cost thousands annually.

2. Higher Origination Fees

At 1.5-3 points, New Silver's origination fees are above average. On a $300,000 loan, that's $4,500-$9,000 in upfront costs.

3. Geographic Limitations

Not available in all 50 states. Investors in restricted states or rural areas may find their properties ineligible.

4. Stricter Property Condition Standards Than Advertised

While marketed as flexible, some borrowers report that properties requiring even minor repairs can be declined or pushed to bridge loan products at higher rates.

5. Prepayment Penalties Are Standard

The no-penalty option comes with significantly higher rates, making it expensive to refinance or sell within the first 3 years.

6. Higher Reserves for Complex Situations

Borrowers with multiple financed properties or lower credit scores may face reserve requirements of 12+ months, tying up significant capital.

7. Slower Than Some Competitors

While 20-30 days is fast compared to traditional banks, some competitors like Kiavi or RCN can close in 15 days for straightforward deals.

8. Limited Long-Term Relationship Benefits

Unlike some lenders that offer improved pricing for repeat customers, New Silver's repeat borrower benefits are modest.

New Silver vs. Key Competitors

vs. Kiavi

• Rates: Kiavi typically 0.25-0.50% lower for strong borrowers
• Flexibility: New Silver more flexible on credit and DSCR
• Speed: Kiavi slightly faster (15-20 days vs. 20-30 days)
• Best for: Choose Kiavi if you have 680+ credit and 1.1+ DSCR; choose New Silver if you're marginal on credit or DSCR

vs. Visio Lending

• Rates: Visio significantly better for 740+ credit scores
• Minimums: New Silver accepts lower credit/DSCR
• Experience: Visio requires investing experience; New Silver doesn't
• Best for: Visio for experienced investors with strong profiles; New Silver for newer or marginal borrowers

vs. Lima One Capital

• Rates: Comparable for most borrower profiles
• Products: Lima One has broader product suite (construction, bridge)
• Flexibility: Similar levels of flexibility
• Best for: Lima One if you need multiple product types; New Silver if you're focused solely on DSCR rentals

vs. RCN Capital

• Specialization: RCN excels at bridge loans; New Silver better for DSCR
• Rates: RCN slightly higher for DSCR products
• Experience: RCN requires some experience; New Silver doesn't
• Best for: RCN for fix-and-flip; New Silver for long-term rentals

Who Should Use New Silver?

Ideal Candidates

First-Time Rental Investors: No experience requirement and educational resources make New Silver beginner-friendly.

Self-Employed Investors: Like all DSCR lenders, no income documentation required—but New Silver is especially flexible with complex situations.

Lower Credit Score Borrowers (640-680): New Silver is more accommodating than premium lenders who primarily serve 740+ borrowers.

Investors in Cash-Flow-Negative Markets: The 0.75 DSCR minimum allows financing in appreciation-focused markets like coastal California or Seattle where monthly cash flow is tight.

Foreign Nationals: Dedicated program and underwriting team for non-U.S. citizens.

Less Ideal For

Prime Borrowers: If you have 740+ credit, 1.25+ DSCR, and 25%+ down payment, you can find better rates elsewhere.

Cost-Sensitive Investors: The higher fees and rates eat into returns. If margins are tight, conventional financing or a lower-cost DSCR lender makes more sense.

Speed-Focused Buyers: While 20-30 days is reasonable, it's not the fastest option for competitive markets where 10-15 day closings matter.

Value-Add Investors: Properties needing significant work require bridge financing first, adding cost and complexity.

Tips for Getting the Best Deal

1. Negotiate Origination Fees

While New Silver has standard fee structures, there's often room to negotiate—especially on larger loans ($500K+) or if you're bringing multiple properties.

2. Optimize Your DSCR

Even small DSCR improvements can reduce rates significantly. If you're at 0.95, see if you can increase to 1.0 by:

• Making a larger down payment to reduce debt service
• Negotiating higher rent
• Shopping for lower property insurance

3. Build Credit Before Applying

If you're at 665, taking 2-3 months to reach 680+ can save thousands annually. Focus on paying down credit cards and ensuring all bills are current.

4. Compare Multiple Quotes

Get rate quotes from at least 3-4 DSCR lenders. Use competing quotes as leverage with New Silver.

5. Consider the Prepayment Penalty Trade-Off

Run the numbers on whether paying 0.5% higher rate for no prepayment penalty makes sense based on your likely hold period.

6. Bundle Properties

If you're acquiring multiple properties, ask about portfolio pricing. New Silver may reduce fees or rates for bulk business.

7. Provide Clean Documentation

Incomplete or messy documentation slows underwriting and can lead to additional conditions. Provide clear, organized documents from the start.

Real-World Scenarios

Scenario 1: First Rental Property

Profile: 680 credit, no previous rental experience, $280K purchase, 20% down
Property: Single-family, $2,300 rent, DSCR 1.15
Result: Approved at 8.75%, 2 points origination, 6 months reserves
Verdict: Good fit. Premium lenders might not accept first-time investors; New Silver's lack of experience requirement is key.

Scenario 2: Self-Employed with Multiple Properties

Profile: 720 credit, 3 existing rentals, $450K purchase, 25% down
Property: Duplex, $3,800 rent, DSCR 1.28
Result: Approved at 8.25%, 1.5 points origination, 9 months reserves
Verdict: Mixed. The approval is great, but Visio or Kiavi might offer 7.5-7.75% for this strong profile.

Scenario 3: Marginal Cash Flow Market

Profile: 700 credit, experienced investor, $380K purchase, 25% down
Property: Single-family, $2,600 rent, DSCR 0.85
Result: Approved at 9.5%, 2.5 points origination, 8 months reserves
Verdict: Strong fit. Most lenders wouldn't touch DSCR below 1.0 or would require 30%+ down.

The Verdict: Is New Silver Worth It?

Rating: 3.8/5

New Silver occupies an important niche in the DSCR lending landscape: the flexible middle ground between ultra-competitive lenders and hard money shops.

Use New Silver if:

• You're a first-time rental investor
• Your credit score is 640-700
• Your DSCR is below 1.1
• You need flexibility more than rock-bottom rates
• You're a foreign national investor

Look elsewhere if:

• You have 740+ credit and 1.25+ DSCR (get better rates from Visio or Kiavi)
• You can qualify for conventional financing
• Your market has multiple DSCR lenders competing (shop extensively)
• You're extremely cost-sensitive and operating on thin margins

Bottom Line

New Silver is the lender you choose when conventional options are off the table and you need someone who'll actually consider your deal. They're not the cheapest, but they're reliable, responsive, and genuinely flexible.

The key is knowing what you're paying for. If you're marginal on credit, DSCR, or experience, New Silver's premium pricing buys you access you wouldn't otherwise have. If you're a strong borrower, that same premium is simply leaving money on the table.

Do your homework, get multiple quotes, and choose New Silver when their flexibility solves a problem that cheaper lenders can't—or won't—address.