Summary:
New Silver increases Fix & Flip construction limit
Why It Matters:
The company is offering more money for construction costs and has clarified its fee structure. This makes their loans more attractive to builders who need more cash for their projects.
What Changed:
- Fix & Flip Loans: Construction coverage increased from 90% to 100%.
- Origination Fees: Updated from "up to 18" (likely a typo) to a clear range of 1.25 - 1.75% for Fix & Flip, and 1.5 - 2% for Ground Up loans.
- Recently Funded: Updated the list of closed deals with new locations like Brooklyn, NY and Jacksonville, FL.
- Content: Added a new article about the impact of potential bans on large institutional buyers.