Auburn, Maine Rental & Investor Snapshot (2025)
Population: Auburn was estimated at 25,200 residents in 2024 with roughly 0.8% year-over-year growth, so investor demand is coming from a slowly expanding local base.
Average rent: recent Auburn rental data shows an average monthly rent of about $1,700 across property types, with many 1-bedroom units closer to $1,300–$1,400 and 2-bedrooms around $1,550–$1,575. That puts Auburn just under Portland levels but still strong for Maine.
Median age: the city skews mid-40s, around 40–41 years old, which usually means a good mix of working households and long-term renters rather than only students.
Rental temperature: inventory in Auburn is described as a cool to balanced market, so units do get leased, but not every property will hit a 1.00 DSCR on day one. That is exactly where a DSCR loan that can review DSCR below 1.00 is useful.
Property types: investors commonly buy single-family rentals, 2–4 unit buildings, and condos in Auburn. Being able to finance a non-warrantable condo is important because not every small project in Androscoggin County meets agency rules.
Why an Auburn DSCR Loan Makes Sense
Auburn rents are good for Maine, but actual signed leases do not always match the payment a conventional investment loan wants to see. This DSCR and near no-ratio style program qualifies mainly on the income of the property, not your tax returns, and it also calls out a few investor-friendly items that help in Auburn specifically:
No minimum DSCR listed and DSCR < .75 can be considered, which helps if the current tenant is paying under market or the unit was just turned.
No ownership seasoning on cash-out, so you can buy, improve, and recapitalize faster on Auburn properties.
FICO expansion down to 660, with the best leverage at 700+.
Loans to $3,000,000, including an Auburn-relevant tier of $1,500,000 up to 75% LTV at 700 FICO and above, and up to $3 million at 70% LTV.
Non-warrantable condos allowed, which covers Auburn condo purchases that would otherwise be sidelined.
Cash-out can be used as reserves, helpful when an older Auburn property needs updates to get to market rent.
Use the rental income from your Auburn property to qualify
A Debt Service Coverage Ratio loan allows investors in Auburn 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 Auburn
DSCR = Monthly Rental Income ÷ Monthly Housing Expense (principal, interest, taxes, insurance and HOA if any).
If a rental in Auburn 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 Auburn
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 Auburn, 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 Auburn where income can change after closing.
Auburn 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 Auburn investors stay in a DSCR loan even on higher priced single family or small multifamily properties.
Who this DSCR loan helps in Auburn
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 Auburn DSCR loan compared to a conventional investment property loan
Conventional investment property loans in Auburn 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 Auburn 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 Auburn 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 Auburn 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 Auburn?
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 Auburn property.