GROUND-UP CONSTRUCTION · Massachusetts (MA) Underwriting Matrix · Stephen R. Mannenbach, J.D., MBA

Massachusetts Ground-Up Construction Loans (Spec Homes, Duplex/Fourplex & Build-to-Rent) — 2026 Rates, LTV Caps & State Rules

Massachusetts Ground-Up Construction provide business-purpose real estate investors with Up to 85% LTC / 70%–75% Completed ARV across loan amounts from $100,000 – $15,000,000+ at 9.75% – 11.75% Interest-Only on Drawn Funds (12 – 24 Months Interest-Only, 660+ FICO min FICO, 14 – 21 Business Days close). In Massachusetts (MA), lenders underwrite to a Non-Judicial (Statutory Power of Sale + Land Court) statutory framework (90–140 days-day average timeline), a 1.17% average property tax rate (~$580/mo at the $595,000 state median), and $540/$100K hazard insurance (~$268/mo).

Max Leverage / LTC

Up to 85% LTC / 70%–75% Completed ARV

Min FICO: 660+ FICO

2026 Rate Band

9.75% – 11.75% Interest-Only on Drawn Funds

12 – 24 Months Interest-Only

MA Security Instrument

Non-Judicial (Statutory Power of Sale + Land Court)

90–140 days days avg timeline

MA Avg Tax & Ins

1.17% Tax

$540/$100K Hazard Ins