Rehab Loans in New York & Massachusetts

Fund your renovation project with a direct hard money lender. Mako Loans provides specialized rehab financing for purchase and construction, featuring reliable draw schedules, fast approvals, and underwriting that understands complex renovation budgets.

What are Hard Money Rehab Loans?

A rehab loan is a form of short-term, asset-based financing used by real estate investors to purchase and renovate distressed properties. Unlike conventional bank mortgages, Mako Loans’ rehab financing is based on the After Repair Value (ARV) of the property. This allows investors in New York and Massachusetts to secure capital for “fixer-uppers” that would otherwise be ineligible for traditional bank loans.

Renovation Projects We Fund

Purchase + Rehab

Fund the acquisition and 100% of the approved renovation budget.

Rehab-Only

Access capital to complete a rehab on a property you already own.

Light Cosmetic Rehab

Fast capital for paint, flooring, and kitchens to get the unit rent-ready.

Heavy Rehab / Gut

Funding for structural repairs, new mechanicals, and full interior gut.

Bridge to Stabilization

Short-term capital to carry you through construction and lease-up.

Select Small Multifamily

Value-add capital for 5+ unit projects reviewed on a case-by-case basis.

Rehab Loan Rates & Terms

Term

What It Means

Minimum Loan Size

$100,000

Interest Rates

Competitive rates based on experience & LTV

Credit Requirement

Asset-based; no minimum score hard cutoff

Rehab Funding

Typically 100% of construction costs

Loan-to-Cost (LTC)

Up to 85-90% (Deal specific)

Loan Term

12 – 24 months

Draw Process

Rapid reimbursement via inspection

Efficient Construction Draw Management

Example Construction Draw Schedule

Draw 1 ($15,000)

Demo completed, framing up, rough plumbing/electric passed.

Draw 2 ($15,000)

Insulation in, drywall hung/taped, subfloors prepped.

Draw 3 ($15,000)

Cabinets installed, flooring down, painting finished.

Draw 4 ($5,000)

Final punch list, appliances installed, CO obtained.

Regions We Actively Serve

We fund across New York (Capital Region, Central NY, WNY, Hudson Valley) and Western Massachusetts (Berkshires). Looking for local details? Explore our geo pages:

Local Coverage

How to Get Approved for a Rehab Loan

Detailed Scope of Work

A line-by-line list of repairs and costs.

Realistic ARV

Evidence the property will hit its target value once the work is done.

Liquidity

Proof of funds for the down payment and to start the first phase of work.

Experience Level

First-timers considered with a strong GC or team.

Frequently Asked Questions About Rehab Financing

Do you fund 100% of the renovation costs?

Typically, yes. If the deal numbers work (LTC/LTV), we hold the rehab budget in escrow and release it as work is completed.

Can I do the work myself?

Yes, if you are a contractor or have significant experience. We still budget for “market labor rates” to protect the project.

How much money do I need to bring to closing?

You generally need a down payment (10-20% of purchase) plus closing costs. The rehab funds are usually financed.

Can I get a rehab loan with bad credit?

Because we are a hard money lender, we focus on property equity and the project’s viability rather than a strict credit score.

Do you lend on ground-up new construction?

This page focuses on renovation, but we do fund new construction on a case-by-case basis.

What documents do you need?

Purchase contract, Scope of Work (SOW), entity docs (LLC), photo ID, and proof of funds.

Rehab Loans

Ready to Start Your Renovation?

Submit a few details about your property and rehab plan. Our team will review your request and follow up with next steps.

Apply in minutes

60-second form: name, property, budget, timeline.

What We Fund

$100k+ hard money loans • New York & Massachusetts

Get Terms Fast

Deals reviewed and proof of funds sent quicky.

Funds at Closing

We coordinate title/attorney—funds wired once cleared.