Biddeford, Maine Rental & Investor Snapshot (2025)
2024 population is about 22,370 residents, making Biddeford one of the larger rental and employment hubs in southern Maine, just ahead of nearby Saco and close to Westbrook in size. :contentReference[oaicite:0]{index=0}
Average advertised rent in 2025 is landing close to $2,050 to $2,075 per month for all unit types, which is high for a city of this size and helps DSCR ratios once leases are updated. :contentReference[oaicite:1]{index=1}
Median age is about 36 years, so many renters are working-age and tend to rent close to employment, the university, or the mill redevelopment areas. :contentReference[oaicite:2]{index=2}
Typical renter household size is a little over 2.0 people per unit (about 2.08), which supports 2-bedroom and small-multifamily investment strategies. :contentReference[oaicite:3]{index=3}
Because Biddeford sits in the Portland–South Portland–Biddeford corridor, investors often buy older stock or condos that do not always line up with agency condo rules. A DSCR loan that will review non-warrantable condos and DSCR below 1.0 is a practical fit. :contentReference[oaicite:4]{index=4}
Why a Biddeford DSCR Loan Makes Sense
Biddeford has seen steady rent growth and redevelopment around its historic mill district, but leases do not always match current asking rents. This DSCR / near no-ratio style program qualifies mainly on the income the property produces, and the lender notes allow no minimum DSCR and can review DSCR < .75. That gives investors room to buy, rehab, and then season rents without being blocked by personal tax return requirements.
No minimum DSCR listed and DSCR below .75 can be considered.
No ownership seasoning on cash-out, which helps when you improve an older Biddeford property and want to pull cash back out.
FICO expansion down to 660, with the best leverage at 700 and up.
Loans to $3,000,000, including a key 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 lines up with some Biddeford/Saco area condo projects.
Use the rental income from your Biddeford property to qualify
A Debt Service Coverage Ratio loan allows investors in Biddeford 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 Biddeford
DSCR = Monthly Rental Income ÷ Monthly Housing Expense (principal, interest, taxes, insurance and HOA if any).
If a rental in Biddeford 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 Biddeford
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 Biddeford, 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 Biddeford where income can change after closing.
Biddeford 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 Biddeford investors stay in a DSCR loan even on higher priced single family or small multifamily properties.
Who this DSCR loan helps in Biddeford
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 Biddeford DSCR loan compared to a conventional investment property loan
Conventional investment property loans in Biddeford 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 Biddeford 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 Biddeford 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 Biddeford 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 Biddeford?
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 Biddeford property.