Use a DSCR / nearNONI style loan in Maine
Debt Service Coverage Ratio (DSCR) loans in Maine are designed for real estate investors who want to qualify using the property's cash flow instead of personal income or tax returns. This program from theLender is a nearNONI style solution: it is not quite the full NONI, but it is cut from the same cloth and built to help investors close more deals.
According to the product notes, this DSCR program allows no minimum DSCR, will consider DSCR < .75, offers no ownership seasoning on cash out, and expands credit down to 660. It also allows non-warrantable condos, offers a 40 year fully amortized term, and goes up to $3,000,000.
That mix of features makes it easier for Maine investors to buy, refinance, or cash out on properties that do not fit traditional investment property guidelines.
Key Benefits of a Maine DSCR Loan
No minimum DSCR required
DSCR < .75 considered for tighter cash flow deals
No ownership seasoning on cash out
FICO expansion down to 660
Non-warrantable condos allowed
40 year fully amortized term available
Cash-out can be used as reserves
Loans to $3,000,000
LTV & Loan Amount Structure
The lender's notes specify two important tiers for Maine investors:
$1,500,000 up to 75% LTV with a 700 FICO & up
Up to $3,000,000 at 70% LTV
This structure rewards stronger credit while still allowing higher balance DSCR loans statewide.
Who This DSCR Program Helps in Maine
This program is a strong fit for:
Investors who do not want to document personal income or tax returns
Borrowers buying or refinancing non-warrantable condos
Investors who want to pull cash out immediately (no ownership seasoning)
Clients with FICO scores as low as 660
Buyers of properties where the current rent will not hit a 1.0 DSCR on day one
Prepayment Options
The lender offers several prepay choices to match your exit strategy:
5, 4, 3, 2 & 1
No prepay
6 months of interest
3% fixed prepay
Declining prepay option available
Common Questions About Maine DSCR Loans
A DSCR loan is an investment property loan that qualifies primarily on the property's ability to cover its debt (rent vs. payment) rather than on the borrower's personal income. This program goes further by allowing DSCR < .75.
No. The notes for this program specifically say no ownership seasoning on cash out, which is helpful for investors who buy, improve and want to recapitalize quickly in Maine.
The programstarts with a 700 FICO & up.
Yes. Non-warrantable condos are allowed under this DSCR program, which is useful in parts of Maine where condo projects do not meet agency guidelines.
Loans to $3,000,000 are available, with $1,500,000 up to 75% LTV at 700 FICO & up, and up to $3,000,000 at 70% LTV.
Yes. 5, 4, 3, 2, 1, no prepay, 6 months interest, 3% fixed prepay and a declining prepay option are available so your loan can match your hold or exit strategy.
Maine DSCR & Investment Property Financing
Lighthouse Mortgage Group helps Maine real estate investors qualify with DSCR (Debt Service Coverage Ratio) loans that use the property’s rental income to approve the loan. Whether you are buying a single-family rental, a 2–4 unit, or a condo that is not agency-warrantable, we have DSCR options in the Maine markets below and in surrounding towns.