New Construction Loans in New York & Massachusetts

Secure ground-up construction financing from a direct private lender. Get a fast decision, milestone-based draws, and local underwriting to keep your job site moving.

Is Your Project a Fit for Private Construction Financing?

Spec builders & developers funding end-to-sale projects

Investors building with a GC and a clear scope + timeline

Infill builds / tear-down rebuilds with strong comp support

Non-owner-occupied investment construction

Not sure if it fits? Submit the basics — we’ll tell you quickly.

What We Can Fund

Ground-Up Construction

Draws tied to progress and approved budget.

Infill Residential Builds

Market-driven projects supported by comps.

Tear-Down + Rebuild

Demo through completion with milestone inspections.

Construction-to-Sale

Build, list, and exit at sale.

Construction-to-Refi

Bridge to DSCR/long-term financing after completion.

Land + Construction

When leverage and structure make sense.

Typical Hard Money Construction Terms

Construction terms vary by project. Here’s what most deals look like before final underwriting.

Term

What It Means

Minimum Loan Size

$100,000

Term Length

Up to 24 months

Leverage / LTC

Deal-specific; set after underwriting

Interest & Fees

Based on asset, experience, leverage, timeline

Rehab Funds

Draws tied to inspection and approved budget

Prepayment

Available; ask about details

Extensions

Case-by-case, subject to review

All terms issued after underwriting; ranges shown are illustrative.

Get Funded in 3 Simple Steps

Construction terms vary by project. Here’s what most deals look like before final underwriting.

01

Submit the Basics

Provide your plans, specs, line-item budget, and exit strategy.

02

Rapid Underwriting

We validate the budget and end-value (ARV) to issue preliminary terms.

03

Close & Break Ground

Once closed, request milestone draws as you hit specific build phases.

What Determines Pricing?

We price construction based on execution risk and clarity — not a one-size-fits-all rate sheet. The cleaner the file and the clearer the exit, the better the structure tends to be.

Example Milestone-Based Draw Schedule

Inspections are quick. Draws reimburse completed work per the approved budget and milestones.

Milestone 1

Foundation complete

Milestone 2

Framing + dried-in

Milestone 3

Rough mechanicals + drywall underway

Milestone 4

Finishes + completion / CO

What We Look For

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

Why Builders Choose Mako Loans

We’re not just another lender, we’re your hometown partners in real estate success.

Lightning Fast Decisions

Get loan decisions in days not weeks, with funding that moves at the speed of your deals.

Local Market Experts

Collectively, our team has over 100 years’ experience as investors, lenders, and property managers in every market we serve.

Relationship-First Approach

You'll work with the same team on every deal, building long-term success together.

Investor Network

Access deals, contractors, partnerships and opportunities you won't find elsewhere.

Direct Access

Call us directly - no phone trees, no runaround. Reach actual decision makers who can say yes and move your deal forward.

Proven Track Record

20+ years of local real estate financing, from first flips to multimillion‑dollar projects.

Projects Funded

850 +

Total Funded

$ 100 M+

Avg Decision

24 hr

Client Satisfaction

90 %

Example Builds & Timelines

Sample scenarios to show how investors structure ground-up projects.

Syracuse Infill SFR | 6-month build

Albany Spec Duplex | 8-month build

Hudson Valley SFR | 7-month build

Frequently Asked Questions

How fast can I close on a new construction loan?

Many hard money construction loans close in 7–14 days once we have your permits and plans.

Do you fund the land purchase too?

We review land + construction on a case-by-case basis. We typically look for projects where the land is already owned or the borrower has significant skin in the game.

Do I need a licensed General Contractor (GC)?

For new construction, we typically require an experienced, licensed, and insured GC to ensure the project meets local building codes in NY or MA.

What’s the minimum loan size?

$100,000.

Do you fund first-time builders?

Sometimes. Strong comps, a realistic budget, and an experienced GC/team make a big difference.

Can you fund land + construction?

Case-by-case. We’ll review leverage, total cost, and the finished value comps.

Will I need an appraisal?

We validate end value using comps and may require third-party valuation depending on the file.

What documents do you need to underwrite?

At minimum: plans/specs, line-item budget, timeline, exit plan, borrower/entity details, and experience/GC info. We may request additional items depending on the file.

Get Pre-Qualified

Get your project funded

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.