New Construction Loans in Rhode Island
Mayflower Venture Partners is a direct private lender specializing in new construction loans for experienced residential developers throughout Rhode Island. We focus on ground-up single-family construction financing for homes in the $1 million and above price range. Term sheets in 24 hours. Closings in 10 to 14 business days.
Rhode Island may be the smallest state in the country but it punches well above its weight in terms of luxury residential real estate. From the storied waterfront estates of Newport to the affluent shoreline communities of Barrington, Little Compton, Jamestown, and Watch Hill, Rhode Island has a concentration of high-value single-family markets that rival anything in southern New England. Experienced developers who understand these markets and can deliver quality new construction are finding strong demand and excellent exit values.
Rhode Island’s Luxury New Construction Markets
Rhode Island’s premium residential markets are defined by their coastal character, their exclusivity, and the extraordinary wealth of the buyers they attract. Newport is one of the most historically significant and expensive residential communities in America, with waterfront estates and luxury single-family homes that regularly trade above $2 million and often well above $5 million. Barrington is one of the most sought-after family suburbs in the state, with top-ranked schools and a housing market that has seen consistent appreciation into the $1 million range. Little Compton and Jamestown offer rare coastal privacy that attracts buyers seeking privacy and natural beauty at premium price points. Watch Hill in Westerly is one of the most exclusive coastal communities in New England.
These markets share a common characteristic — supply is severely constrained. Available lots are rare, zoning is protective, and the buyers who want to be in these communities are patient, well-capitalized, and willing to pay for the right product. New construction that delivers quality, design, and location in any of these markets absorbs reliably and at strong prices.
Our New Construction Loan Program in Rhode Island
We lend on ground-up single-family residential new construction throughout Rhode Island. Our program is built for experienced developers working in the $1 million plus price range.
Loan amounts from $500,000 to $5,000,000. Up to 75% of land acquisition cost. Up to 100% of construction budget. Loan terms of 12 months. Interest only monthly payments on the amount disbursed. Construction draws processed in 48 hours. No prepayment penalty.
We are a direct lender, not a broker. Every loan we fund comes from our own capital, which means faster decisions, cleaner communication, and no surprises at the closing table.
Who We Lend To
We work with experienced residential developers who have completed at least one ground-up construction project and understand what it takes to manage a build from land acquisition through certificate of occupancy. We do not finance first-time builders on new construction projects. Our borrowers are professionals who deliver on time and on budget.
Why Developers Choose Mayflower Venture Partners in Rhode Island
We are based in Quincy, Massachusetts — just across the border from Rhode Island — and have been lending to New England real estate developers for years. Rhode Island is a core part of our lending footprint. When you call us with a deal in Newport, Barrington, or anywhere else in the state, you get a straight answer within 24 hours.
We also lend throughout New England including Massachusetts, Connecticut, New Hampshire, and Maine.
Ready to Move on Your Next Rhode Island New Construction Project?
Apply now, email us at lo***@*******er.com, or call 617-553-6781. Term sheets in 24 hours.