Saco, Maine Rental & Investor Snapshot (2025)
Population: Saco has about 21,064 residents, making it the 11th most populated city in Maine. That is a large enough base to support steady rental demand year-round.
Rental pricing: recent Saco rental surveys show average or median rents in the $2,250 to $2,400 per month range for all property types, which is higher than many interior Maine cities. That higher rent level helps DSCR performance when the payment is kept reasonable.
1-bedroom rent: typical one-bedroom apartments in Saco are now landing near $1,900 to $2,000 per month, with 2-bedrooms often pushing closer to $2,300+. That is solid income for a city of just over 21,000 people.
Commuter and coastal pull: Saco benefits from its location in York County and its access to Biddeford, Scarborough and the greater Portland employment corridor, which helps keep vacancy lower than more rural towns.
Investor takeaway: when rents are in the mid-$2,000s, a DSCR program that will consider DSCR below 1.00, and even below .75, gives Saco investors room to buy older condos or small multifamily while they stabilize rents.
Why a Saco DSCR Loan Makes Sense
Saco is not a massive city, but its rents run hotter than you might expect for a 21,000-person market. That creates a good match for DSCR lending. Your lender's program allows no minimum DSCR, no ownership seasoning on cash-out, non-warrantable condos and loan amounts up to 3 million dollars. That mix is helpful in Saco where some condo projects do not hit agency rules and some units are being repositioned to higher rents.
No minimum DSCR and DSCR < .75 can be considered, which is useful if the current lease is below what nearby units are getting.
No ownership seasoning on cash-out so you can purchase, improve, and recapitalize without waiting a year.
FICO expansion down to 660, with the best pricing and leverage at 700 and above.
$1,500,000 up to 75% LTV at 700 FICO and higher, and up to $3,000,000 at 70% LTV for bigger Saco assets or mixed portfolios.
Non-warrantable condos allowed, which covers Saco properties that are investor heavy or that have association issues.
Use the rental income from your Saco property to qualify
A Debt Service Coverage Ratio loan allows investors in Saco 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 Saco
DSCR = Monthly Rental Income ÷ Monthly Housing Expense (principal, interest, taxes, insurance and HOA if any).
If a rental in Saco 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 Saco
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 Saco, 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 Saco where income can change after closing.
Saco 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 Saco investors stay in a DSCR loan even on higher priced single family or small multifamily properties.
Who this DSCR loan helps in Saco
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 Saco DSCR loan compared to a conventional investment property loan
Conventional investment property loans in Saco 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 Saco 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 Saco 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 Saco 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 Saco?
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 Saco property.