About
Mayflower Venture Partners is a Quincy, Massachusetts-based direct hard money lender specializing in $1M+ new construction loans for real estate developers across New England. The firm focuses on ground-up construction, tear downs, gut renovations, and luxury flips on 1-4 unit residential properties throughout the Greater Boston market and surrounding New England states.
Mayflower issues term sheets within 24 hours of application, closes in approximately 10 days, and funds construction draws within 48 hours via a mobile app photo submission process. The loan structure covers 80-90% of the acquisition price and 100% of the construction budget, with 12-month interest-only terms at 9.99% to 12.99% and 1-3 origination points.
Beyond fix-and-flip and new construction, Mayflower offers long-term DSCR rental loans at rates from 6.75% with up to 80% LTV and 20-30 year terms. All loans require an LLC entity. First-time flippers are accepted on fix-and-flip with 20% down; new construction requires prior development experience.
Case studies include a $1,750,000 loan on a $2,800,000 ARV project, a $950,000 loan on a $1,500,000 ARV single-family flip with addition, and an $850,000 loan on a $1,400,000 ARV 2-unit new construction.
Key Differentiators
Why investors choose this lender:
- Specializes in $1M+ luxury residential projects in New England - Mayflower is purpose-built for the Greater Boston market where purchase prices and construction budgets routinely exceed $1M; their case studies and loan structures reflect decades of lending on high-value tear downs, gut renovations, and new construction at this price tier
- Term sheet in 24 hours, close in ~10 days - from application to funded in roughly two weeks; term sheet turnaround of 24 hours allows investors to move on competitive Boston-area deals without waiting on institutional underwriting queues
- 100% of construction budget covered - Mayflower funds the full construction budget on both fix-and-flip and ground-up construction; investors only need to bring the down payment on the land or purchase price, not out-of-pocket construction capital
- 48-hour draw turnaround via mobile app - photo-based draw submission with 48-hour average wire delivery keeps Greater Boston contractors paid and active job sites on schedule; one of the strongest draw commitments in the New England regional market
- Full investment cycle under one lender - construction through DSCR exit - investors building and then holding can finance the construction phase with Mayflower's hard money program and refinance into their DSCR rental product at stabilization
- First-time flippers welcome on fix-and-flip - investors without a track record can qualify with 20% down on fix-and-flip projects; Mayflower's stated goal is to build long-term partnerships starting with a borrower's first deal
Where They Lend
New England (CT, MA, ME, NH, RI, VT)
New England - primarily Greater Boston, Massachusetts and surrounding Connecticut, Maine, New Hampshire, Rhode Island, and Vermont markets. Specializes in luxury residential $1M+ projects. 1-4 unit residential only. No owner-occupied homes.
Loan Types, Structures and Terms
$1,000,000+
Typical Loan Amounts
9.99% to 12.99%
Typical Interest Rates
Fix-and-flip: 80-90% acquisition, 100% construction, 70% LTV, 85-90% LTC, 10-20% borrower down payment. New construction: 50-75% land acquisition, up to 100% construction, 70% LTV, 25-50% borrower down payment. DSCR: up to 80% LTV, 20-30 year terms.
Mayflower Venture Partners fix-and-flip loans fund 80-90% of acquisition and 100% of construction at 9.99% to 12.99%, with 12-month terms and 10-day closings. Specializes in $1M+ luxury flips, gut renovations, and tear downs across New England.
| Fix & Flip Feature | Structure & Terms |
|---|
| Loan Term | 12 months | Interest-only monthly payments |
| Interest Rate | 9.99% to 12.99% | Rate depends on LTV, experience, geography, and track record |
| Origination Points | 1 to 3 points |
| Max Leverage | Up to 90% of acquisition | 100% of construction | Max 70% LTV | 85-90% LTC |
| Down Payment Required | 10-20% of purchase price to stay within desired LTV and LTC parameters |
| Speed to Close | ~10 days | Term sheet issued within 24 hours of application | Closing ~2 weeks after signed term sheet |
| Draw Turnaround | 48-hour average from photo submission to wire |
| Property Focus | Luxury flips, gut renovations, and tear downs. 1-4 unit residential. SFR, condos, and multis. Specializes in $1M+ project values in Greater Boston and New England. |
| First-Time Investors | Accepted with 20% down of purchase price |
Mayflower Venture Partners specializes in $1M+ ground-up construction and gut renovation loans across New England. 50-75% land LTV, 100% construction coverage, 12-month terms at 9.99% to 12.99%, and 48-hour draw turnaround.
| Construction Feature | Structure & Terms |
|---|
| Project Specialty | Ground-up new construction, tear downs, and gut renovations on 1-4 unit residential properties. Specializes in $1M+ project values in Greater Boston and New England. |
| Land Acquisition | 50-75% of land acquisition cost |
| Construction Budget | Up to 100% of construction costs |
| Max LTV | Max 70% LTV | Down payment: 25-50% of purchase price |
| Interest Rate | 9.99% to 12.99% | 1 to 3 origination points | 12-month interest-only term |
| Experience Required | Required. Mayflower does not fund ground-up construction for first-time investors. Building permit or zoning opinion letter required before draws begin. |
| Draw Turnaround | 48-hour average via mobile app photo submission |
| Speed to Close | Term sheet in 24 hours | Closing approximately 2 weeks after signed term sheet |
Mayflower Venture Partners DSCR loans offer rates from 6.75% with up to 80% LTV and 20-30 year fixed terms. Purchase, rate-term refi, and cash-out refi available across New England.
| Rental DSCR Feature | Structure & Terms |
|---|
| Starting Rate | Rates from 6.75% |
| Loan Terms | 20 to 30 year fixed or ARM terms |
| Max LTV | Up to 80% LTV |
| Loan Types | Purchase, Rate and Term Refinance, Cash-Out Refinance |
| BRRRR Exit Strategy | Investors can use Mayflower's fix-and-flip or construction loan for the rehab phase, then refinance into the DSCR program at stabilization - one lender for the full BRRRR cycle. |
| Geographic Coverage | New England - Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, Vermont |
Don't lose the deal waiting on financing. Apply now and get pre-approved today.
Borrower Qualifications (Are you qualified?)
Mayflower Venture Partners qualifies borrowers with a preferred 620 FICO minimum via soft pull. Fix-and-flip first-timers are accepted with 20% down. New construction requires prior experience. LLC required on all loans. No W-2s or tax returns required on standard transactions.
| Qualification Parameter | Lender Requirements |
|---|
| Minimum Credit Score | 620 FICO preferred. Soft credit pull only - will not impact your credit score. Credit is not the most important qualifying factor; payment history matters more than score. |
| Experience Level | First-time flippers accepted with 20% down on fix-and-flip loans. New construction requires prior experience - Mayflower will not fund ground-up construction for first-time investors. |
| Entity Requirement | LLC required. Loans must be closed under a business entity. LLC formation docs, IRS EIN letter, Certificate of Good Standing, and operating agreement required at closing. |
| Documentation Required | Application, P&S, project budget, track record, LLC docs, EIN letter, Certificate of Good Standing, operating agreement, insurance binder, and ID. Construction projects also require building permit or zoning opinion letter. |
| Down Payment | Fix-and-flip: 10-20% of purchase price. New construction: 25-50% of purchase price. Funds must be seasoned (borrower's own cash). |
Underwriting Process (How long will it take to get approved?)
Mayflower Venture Partners issues term sheets within 24 hours of receiving an application, P&S, and project budget. Soft credit pull only. LLC required. Closing completes approximately 2 weeks after a signed term sheet. Appraisal and title are ordered concurrently with document collection.
| Stage / Requirement | Process & Timelines |
|---|
| Application Submission | Submit application, P&S, and project budget. Mayflower reviews and issues a term sheet within 24 hours. |
| Term Sheet Acceptance | Borrower accepts term sheet and provides a closing deposit. Title and appraisal are ordered concurrently with document collection to minimize delays. |
| Document Collection | LLC docs, IRS EIN letter, Certificate of Good Standing, operating agreement, insurance binder, ID, track record, and soft credit pull. Construction projects also require a building permit or zoning opinion letter. |
| Closing | Closing attorney coordinates HUD settlement statement. Borrower brings required down payment. Closing approximately 10 days from application for complete packages. |
| Appraisal Note | If appraisal comes in lower than expected, Mayflower typically reduces the loan amount to maintain target LTV rather than canceling the transaction. |
Draw Process (How long will it take to get draws?)
Mayflower Venture Partners funds construction draws within 48 hours on average. Borrowers complete work first, then submit draw requests via a dedicated app with photos of completed work. The team reviews and approves draws in line with the approved budget, with wire transfers following within 48 hours.
| Operational Step | Methodology & Timelines |
|---|
| Draw System | Reimbursement-based. Investor funds and completes a phase of construction first, then submits a draw request to be reimbursed against the approved budget. |
| Inspection Method | Mobile app photo submission. Request a draw through the Mayflower app, submit photos of completed work, and the team reviews and approves an amount in line with the approved budget. |
| Funding Turnaround | Average 48-hour turnaround from photo submission to wire transfer in your account. Keeps active contractor schedules and project timelines on track. |
| Construction Requirement | Building permit or zoning opinion letter required for addition or new construction projects before draws can begin. Permits must be in hand. |
| FlipperForce Integration | Track draw phases and contractor milestones using the FlipperForce Project Scheduler to align construction completion dates with Mayflower's draw reimbursement schedule. |
