Bangor, Maine Rental & Investor Snapshot (2025)
Population: 32,446 residents in 2024, making Bangor one of the three largest cities in Maine.
Rents: recent rental data in Bangor shows published averages in the $1,269 to $1,591 per month range, with a mid-line median around $1,470 for typical apartments in 2025. That is well below many coastal New England markets, which is why investors look here for cash flow.
Unit mix: studios around $790–$850, 1-bedrooms around $1,250–$1,350, 2-bedrooms around $1,275–$1,550, and 3-bed rentals often at $1,350–$1,850 depending on location and age of the building.
Vacancy: city housing reporting has shown vacancy in the 5.0% to 5.4% range, which supports DSCR underwriting because units tend to turn and refill without long downtime.
Age & income profile: median age sits near 41 years and median individual income around the mid $30,000s, which lines up with a renter base that often chooses apartments over buying.
Downtown rehabs: newer downtown buildings have commanded much higher rents (often $2,000+ for premium units), which pulls the upper end of DSCR rental comps up for investors.
Why a Bangor DSCR Loan Makes Sense
Bangor rents have risen faster than many local wages, and some investors are buying older triplexes and four-units that have not had leases raised yet. A DSCR or near no-ratio program is useful here because it can qualify mainly on the property income and will look at DSCR below 1.00, even down to < .75, while still allowing cash-out with no ownership seasoning.
No minimum DSCR listed and DSCR < .75 can be considered.
No ownership seasoning on cash-out, so value-add investors can refinance right after improving units.
FICO expansion down to 660, with the best Bangor leverage at 700+.
$1,500,000 up to 75% LTV at 700 FICO and up to $3,000,000 at 70% LTV.
Non-warrantable condos allowed, useful for Bangor projects that do not meet agency condo requirements.
How This Helps Bangor Investors Specifically
Because Bangor's average rent is often quoted in the low to mid $1,400s while premium renovated units can rent above $2,000, a single DSCR line on a conventional worksheet can be misleading. This program will let you buy based on today's rent and later raise leases without having to re-qualify your personal income. Cash-out can also be posted as reserves, which is helpful when you are updating older Penobscot County housing stock.
Use the rental income from your Bangor property to qualify
A Debt Service Coverage Ratio loan allows investors in Bangor to qualify on property cash flow instead of personal income, W 2s or full tax returns. It is a good fit for rental property buyers, landlords and small multifamily investors who want a cash flow based mortgage.
This DSCR program is flexible. It allows no minimum DSCR, will consider DSCR below .75, has no ownership seasoning on cash out, permits non warrantable condos, offers a 40 year fully amortized term and allows loan amounts up to 3,000,000 dollars. Credit can be reviewed down to 660 and investors with 700 and above can reach 75 percent LTV up to 1,500,000 dollars.
How DSCR is calculated in Bangor
DSCR = Monthly Rental Income ÷ Monthly Housing Expense (principal, interest, taxes, insurance and HOA if any).
If a rental in Bangor receives 2,000 dollars in rent and the proposed payment is 1,800 dollars, the DSCR is 2,000 ÷ 1,800 = 1.11. Many lenders want 1.00 or higher. This program can review DSCR under 1.00 and even under .75 which is helpful when the property has not reached full market rent.
What properties can qualify in Bangor
Single family rental homes
2 to 4 unit investment properties
Condos including some non warrantable condos
Investor focused condos that do not meet agency rules
Because this is a non QM style DSCR mortgage, it can often be used on the real world properties that investors buy in Bangor, not only the ones that fit conventional condo guidelines.
When the DSCR is under 1.0
A DSCR below 1.0 means the rent is slightly lower than the payment. That can happen if the lease is old, if the unit was just rehabbed, or if the property is rented furnished or part time. The notes on this program say DSCR below .75 can be considered. That makes it useful in Bangor where income can change after closing.
Bangor DSCR loan structure
Two main levels are available on this product:
1,500,000 dollars up to 75 percent LTV with a 700 FICO and above
Up to 3,000,000 dollars at 70 percent LTV
This lets Bangor investors stay in a DSCR loan even on higher priced single family or small multifamily properties.
Who this DSCR loan helps in Bangor
Investors who do not want to provide full income documentation
Buyers of non warrantable or investor heavy condos
Clients doing a cash out refinance right after purchase
Self employed borrowers whose tax returns do not show all income
Short term and mid term rental hosts who are still building rental history
Benefits of a Bangor DSCR loan compared to a conventional investment property loan
Conventional investment property loans in Bangor can be strict about income, condo eligibility and cash out timing. A DSCR loan is built around the rental itself, so it gives investors more room. These are the main advantages.
Qualification based on rent. A conventional loan often requires W 2s, pay stubs and tax returns. A DSCR mortgage in Bangor looks first at whether the rent can cover the payment.
Lower DSCR accepted. Conventional lenders usually want stronger coverage. This program can review DSCR under 1.0 and even under .75.
No ownership seasoning on cash out. Conventional loans often make you wait to pull equity. This DSCR option lets investors recapitalize sooner.
Non warrantable condos allowed. Many condo projects around Bangor do not meet agency rules. DSCR gives you a financing path for those.
40 year term available. This helps lower the payment and improve cash flow which most conventional investment loans do not offer.
Better for portfolio growth. If you own several rentals, conventional lenders can get tighter. DSCR is built for repeat investors.
Prepayment and exit choices
You can match the prepay to your plan.
5, 4, 3, 2 and 1 year prepay
No prepay option
6 months of interest
3 percent fixed prepay
Declining prepay option available
Common Questions About Bangor DSCR Loans
Do I have to show personal income?
Not the same way as a full documentation loan. The property income is the main qualifying factor.
Can I get a DSCR loan if the rent is low right now?
Yes. This program can consider DSCR below .75 which is useful when you plan to raise rents after closing.
How fast can I do a cash out in Bangor?
There is no ownership seasoning requirement, so you can pull equity out sooner.
What credit score do I need?
FICO can be reviewed down to 660. At 700 and higher you can reach 75 percent LTV to 1,500,000 dollars.
How do I start?
Call the number at the top of the page or submit the short application and mention that you want the DSCR or nearNONI style investor loan for your Bangor property.