What do fix and flip loans cost at Mayflower Venture Partners?

Our loans typically cost 0.5 to 2 origination points with an 8.99 to 11.99 percent interest only monthly payment. Where your loan falls in those ranges depends on leverage, experience, geography, and our track record together.

How fast can you close a fix and flip loan?

Closing typically happens within two weeks after we receive a signed term sheet and deposit. Term sheets are issued within 24 hours of a complete application.

Do you lend to first time flippers?

Yes, we finance first time flippers when the deal is strong and the borrower puts down 20 percent of the purchase price. We do not finance ground up new construction for first time investors.

How does the construction draw process work?

Construction funds are released on a reimbursement schedule as work is completed. You request a draw through our app, submit photos of the progress, and funds are typically wired within 48 hours of submission.

1 to 4 Unit Investment Property. Under $5M. New England.

Fix N Flip and New Construction Loans

This is the residential lending side of Mayflower Venture Partners: direct loans for flips, gut renovations, teardowns, and ground up construction across Massachusetts, Connecticut, Rhode Island, New Hampshire, and Maine. Term sheets within 24 hours. Closings in about two weeks. Draws in 48 hours. One decision maker the whole way.

Call 617-553-6781 Apply Now

Built for Real Estate Investors, Not Homeowners

Every loan we make on this side of the business follows the same rules: 1 to 4 unit residential investment property, non-owner-occupied, closed in an LLC or entity, in one of the five New England states we know street by street. We underwrite the deal and the plan, not your W2. Banks need tax returns, seasoned funds, and sixty days. We need the property, the budget, the exit, and about two weeks.

24 Hours

To a Term Sheet

80 to 90%

Of Acquisition

100%

Of Construction

48 Hours

Draw Turnaround

Two Programs, One Standard

Fix N Flip Loans

80 to 90 percent of the purchase price financed
100 percent of the construction budget financed
Cosmetic refresh to full gut renovation, additions, and condo conversions
12 month interest only terms, extensions available
Typical down payment: 10 to 20 percent of purchase price
First time flippers considered with 20 percent down and a strong deal
No prepayment penalty: sell early, stop paying

Ground Up New Construction

50 to 75 percent of land acquisition financed
Up to 100 percent of construction costs financed
Single family, duplex, and up to 4 unit projects
Teardown and rebuild projects welcome
Typical down payment: 25 to 50 percent of the land price
Building permit or zoning opinion letter required before closing
For experienced builders and investors only, no first timers

Both programs price the same way: 0.5 to 2 origination points and an 8.99 to 11.99 percent interest only monthly payment. Where your loan lands in those ranges depends on leverage, experience, geography, and our track record together. Repeat borrowers earn better terms, and we say that out loud because it is the whole point: we are trying to become your lender for the next ten projects, not just this one.

How the Draw Process Actually Works

Construction money is not fronted. It is released on a reimbursement schedule as work gets completed, in line with your budget. Close on the property, start the work, then draw against the budget as phases finish. Here is the part that matters: our draws are fast. You request a draw, we send you a link to an app, you photograph the progress, our team reviews it against your budget, and the approved amount is wired to you. Average turnaround from photo submission to funds in your account is 48 hours.

That speed is not a detail. A flip that stalls waiting ten days for a draw pays ten extra days of carry on every dollar outstanding. Over a six month project with four or five draws, a slow-draw lender quietly costs you weeks of interest and schedule. Ask any GC what a lender who reimburses in two days is worth.

The Process, Application to Closing

Apply

Fill out the application and send us your P&S and budget. That is everything we need to underwrite the deal.

Term Sheet Within 24 Hours

We evaluate the deal and send terms. Accept, place the deposit, and we immediately order title and appraisal.

Documents in Parallel

While title and appraisal run, we collect LLC documents, insurance binder, ID, soft credit pull, and track record. New construction and addition projects need the building permit or zoning opinion letter before closing.

Close in About Two Weeks

Value there, title clean, the closing attorney drafts the HUD and schedules closing. Delays only happen when documents lag or title has a cloud, so send documents fast.

What We Look At, Honestly

The Deal First, You Second, Your W2 Never

The deal: purchase price against the neighborhood, budget against the scope, and an after repair value supported by real comparable sales. If the appraisal comes back light, that usually does not kill the deal. We adjust the loan amount to stay inside our leverage targets and keep moving.

You: we pull a soft credit report to confirm a history of paying on time. No hard minimum score, but we prefer 620 and up. Experience shapes leverage and pricing: a first flip means 20 percent down and no ground up construction; a track record means better terms with every project.

The structure: LLC or entity borrower, non-owner-occupied investment property only, in Massachusetts, Connecticut, Rhode Island, New Hampshire, or Maine. If you are planning to live in the property, we are not your lender and a local bank is the right call.

Documents We Will Need

The Complete List, No Surprises Later

Completed application, P&S, and construction budget
Track record of completed projects
LLC formation documents, IRS EIN letter, operating agreement, certificate of good standing
Government issued ID
Insurance binder (instructions provided at term sheet)
Building permit or zoning opinion letter (new construction and additions)
In unique cases: rent rolls or bank statements, though generally not required

Frequently Asked Questions

QWhat are the rates and points?

0.5 to 2 origination points and 8.99 to 11.99 percent interest only. Leverage, experience, geography, and our history together determine where you land. Repeat borrowers with clean execution get our best pricing, and we tell you your exact number on the term sheet within 24 hours, not after weeks of process.

QHow much do I need to put down?

Fix and flip: typically 10 to 20 percent of the purchase price, with 100 percent of construction financed. Ground up: 25 to 50 percent of the land price, with up to 100 percent of construction financed. Stronger experience and stronger deals sit at the lower end.

QWill you fund my first flip?

Yes, with 20 percent down on a deal whose numbers hold up. We will not fund a first ground up construction project; build the track record on renovations first, then we grow into construction together.

QDo you check credit or income?

Soft credit pull only, no hard minimum, 620 plus preferred. No W2s, no tax returns, no income verification. The property, the plan, and your history carry the underwriting.

QWhat if my project is over $5M or outside 1 to 4 units?

That is our commercial side. For construction, development, multifamily, and commercial projects of $5M and above, nationwide, see Mayflower Commercial Capital Placement.