Status update: Kiavi Funding LLC was acquired by Figure Technology Solutions. The acquisition closed 1 September 2026, and DSCR loans are now originated by Figure Lending LLC dba Figure. Figure has not published a timeline for combined guidelines or pricing, so the Kiavi figures on this page describe the program as it operated before the acquisition closed.
Overview
Kiavi (based in San Francisco, CA, hard money) and New Silver (based in West Hartford, CT, hard money) are both non-QM lenders serving real estate investors. Kiavi serves National; New Silver serves National.
Figures for both lenders below were checked against their published materials as of 2026-09-17. Rates and terms change and are not a quote for either lender.
Kiavi vs New Silver: attribute by attribute
| Attribute | Kiavi | New Silver |
|---|---|---|
| Interest rate range | 5.875%–12% | 9.5%–11.75% |
| Origination points | 1–3 points | 1–3 points |
| Minimum credit score | 660 | 660 |
| Minimum DSCR | 0.80 | 0.75 |
| Max LTV | 80% | 85% |
| Max LTC | 95% | 90% |
| Minimum loan size | $100K | $100K |
| Maximum loan size | $2.0M | $3.0M |
| States covered | 49 states | 39 states |
| Typical close time | 7-14 days typical | 5-14 days typical |
| Founded | 2013 | 2018 |
| Headquarters | San Francisco, CA | West Hartford, CT |
Which one fits which borrower
- New Silver's minimum DSCR is 0.75, below Kiavi's 0.80 floor — New Silver will consider a property that cash-flows more thinly than Kiavi's minimum allows.
- New Silver's max LTV is 85% against Kiavi's 80% — on the same purchase price, New Silver's published leverage lets a borrower put down less cash.
- Kiavi's max LTC is 95% against New Silver's 90% — for a rehab-heavy deal, Kiavi's published figure covers a larger share of total project cost.
- New Silver's maximum loan size is $3.0M, above Kiavi's $2.0M ceiling — a larger transaction may need to go to New Silver.
- Kiavi publishes coverage in 49 states versus New Silver's 39 — confirm your specific state with either lender, since licensing changes.
- Kiavi was founded in 2013, 5 years before New Silver (founded 2018) — longer time in the market, not a claim about which underwrites better today.
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Kiavi vs New Silver FAQ
Kiavi's published rate range is 5.875%–12%. New Silver's published rate range is 9.5%–11.75%. Both ranges depend on credit, leverage, DSCR coverage and borrower experience, so where a specific deal prices inside either range varies.
Kiavi Funding LLC was acquired by Figure Technology Solutions. The acquisition closed 1 September 2026, and DSCR loans are now originated by Figure Lending LLC dba Figure. Figure has not published a timeline for combined guidelines or pricing, so the Kiavi figures on this page describe the program as it operated before the acquisition closed.
Kiavi publishes a minimum credit score of 660. New Silver publishes a minimum credit score of 660.
Kiavi's minimum DSCR is 0.80. New Silver's minimum DSCR is 0.75.
Kiavi's loan size runs $100K to $2.0M. New Silver's loan size runs $100K to $3.0M.
Kiavi's typical close time is 7-14 days typical. New Silver's typical close time is 5-14 days typical. Actual timelines depend on documentation, title work and underwriting load regardless of lender.
This comparison is an independent directory listing. DSCR Loan Program is not affiliated with Kiavi or New Silver, receives no payment for placement, and does not rank lenders in exchange for compensation. Rates, terms, and eligibility are determined by each lender and subject to change. Always verify current pricing directly with the lender before relying on any specifics.