New Silver for South Dakota investors
New Silver is a tech-forward non-QM lender with fast underwriting and accessible minimum loan sizes that suit newer investors.
South Dakota context
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore).
How New Silver positions in South Dakota
South Dakota is well covered by national DSCR lenders, with New Silver as one option. Where New Silver differentiates: tech-driven fast underwriting. Where it competes: rates 9.5 to 11.75 percent against peer programs.
City-level coverage in South Dakota
New Silver provides DSCR coverage across South Dakota metros including Sioux Falls, Rapid City, and South Dakota. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. New Silver program terms apply uniformly across South Dakota metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, rental, bridge |
| Loan size | $100K - $3.0M |
| Rates | 9.5%-11.75% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 5-14 days typical |
| South Dakota property tax | 1.2% |
| South Dakota state income tax | None |
New Silver strengths in South Dakota
- tech-driven fast underwriting
- low minimum loan sizes
- BRRRR-friendly
Ideal borrower: Newer-to-mid investor with smaller deal sizes
FAQ
Yes, operates nationally including South Dakota. New Silver is based in West Hartford, CT and operates nationally.
Sioux Falls is the top investor market in South Dakota and falls within New Silver national coverage. Sioux Falls property tax follows the South Dakota state rate of 1.2 percent. New Silver typically underwrites Sioux Falls acquisitions at standard rate sheets.
Yes. Rapid City ranks among the larger South Dakota investor metros and sees consistent DSCR loan volume from New Silver. Submarket variation within Rapid City matters for property selection.
New Silver applies the same rate sheet across South Dakota metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Sioux Falls, Rapid City, and South Dakota all qualify for the same New Silver program.
New Silver indicative DSCR rate range is 9.5 to 11.75 percent with 1 to 3 points.
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore). New Silver follows standard business-purpose loan structures.
New Silver funds fix-and-flip, BRRRR, rental, bridge in South Dakota.
South Dakota allows standard DSCR prepay structures; New Silver typically uses 3-5 year step down.
New Silver typical close: 5-14 days typical.
Bottom line
South Dakota investors considering New Silver should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with New Silver.