Maine's rental stock is old, solid and often multi-unit: wood-frame two- and three-family buildings in Portland, Lewiston and Biddeford that have gained value as demand for housing has grown.
In short: LendingStreet is our top pick for a Maine DSCR cash-out refinance. We qualify on the building's rent, with no W-2s or tax returns, and offer cash-out up to 75% LTV with 30-year terms available. LLC borrowers are standard, 1 to 8 unit properties qualify, and loans start at $150,000 with no stated maximum. We lend across Maine, from Greater Portland to Lewiston-Auburn, Bangor and the coast.
LendingStreet finances business-purpose DSCR cash-out refinances on Maine rentals from single-family homes to 8-unit buildings. That range covers most of the state's classic multi-family stock without moving into commercial lending.
It is built for investors who want to recycle equity into the next purchase, consolidate a higher-cost loan, or fund repairs across a portfolio, all without W-2s or tax returns. To see your numbers, use the form below or call (877) 298-1001.
Well-known DSCR cash-out refinance lenders include CoreVest, Dominion Financial, LendingOne, Lima One, New Silver and RCN Capital. Compared scenario by scenario for investors in Maine, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Rental loan above $2M | LendingStreet | Our DSCR loans have no stated maximum. LendingOne states DSCR loans up to $2,000,000 and RCN Capital states long-term rental loans up to $1.5M. |
| Credit score in the 620s | LendingStreet | Our DSCR minimum is 620. RCN Capital and New Silver state 660 minimums, and Dominion Financial states 680, with exceptions to 660. |
| 5-8 unit building | LendingStreet | We treat 1-8 units as residential DSCR. Lima One and CoreVest state 1-4 unit eligibility for their rental loans. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
When you shop a Maine cash-out refinance, you are really choosing between lender types. Banks, hard money lenders and investor-focused DSCR lenders each work differently.
Each type has a place. A bank may suit a borrower who wants to document personal income, and hard money is built for short projects. When the goal is long-term cash-out on a rented property, a DSCR loan is designed for the job.
| What investors need | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Qualify on rent instead of tax returns | Yes, DSCR-based | Usually requires tax returns and debt ratios | Often asset-based; varies |
| Cash-out leverage | Up to 75% LTV | Varies; often conservative on rentals | Varies; usually short-term |
| Borrow in an LLC | Standard | Sometimes, often with extra steps | Common |
| Loan term | 30-year terms available | Often shorter terms or balloons | Usually 6 to 24 months |
| Loan size | From $150,000, no stated maximum | Often capped by local policy | Varies by lender |
| Coverage | All of Maine, plus 49 other states and DC | Usually its local market | Usually local or regional |
Greater Portland, including South Portland and Westbrook, has the state's highest rents and values, with many older two- to four-unit buildings. Lewiston-Auburn and Biddeford-Saco grew around mills and still have a deep supply of wood-frame multi-family housing at lower prices.
Bangor serves as a regional hub for northern and eastern Maine, while Brunswick, Augusta and Waterville have steady year-round demand. Coastal towns have strong seasonal rental demand, but local rules on short-term rentals vary.
Maine property taxes are set by each municipality's mill rate. Towns revalue on their own schedules, so assessed values can lag the market, and a revaluation can raise the bill sharply. The homestead exemption applies only to a resident's primary home.
Maine's real estate transfer tax applies to deeds and is split between buyer and seller, so it does not apply to a refinance where ownership stays the same. On a cash-out, the main costs are title, appraisal and recording. If you pay for heat in a multi-unit building, that cost is not in the DSCR formula, but it belongs in your own cash flow math.
Portland has a rent control ordinance that limits annual rent increases on many units, so a Portland cash-out should be sized on current rents, not projected ones. Portland also registers and caps short-term rentals, with tighter limits on units the owner does not live in; other towns set their own rules.
Winter shapes insurance and upkeep. Insurers ask about heating systems, roof condition and older wiring, and some coastal and riverfront properties fall in mapped flood zones.
This example is illustrative and not a quote. An investor owns a Portland triplex appraised at $650,000, with $300,000 left on the existing loan. The three units lease for a combined $4,500 a month under the city's rent rules. Taxes are about $780 a month and insurance is about $260.
At 75% LTV the new loan is $487,500. After the $300,000 payoff and an estimated $7,500 in closing costs, about $180,000 comes back to the investor. Estimated principal and interest is about $3,243, so the full monthly payment is about $4,283 and DSCR is about 1.05x.
At 70% LTV the loan is $455,000, cash back is about $147,500, estimated principal and interest is about $3,027 and DSCR rises to about 1.11x. Because Portland limits rent increases, the investor cannot count on raising rents to fix a thin ratio, so sizing the loan right matters.
| Item | 75% LTV cash-out | 70% LTV cash-out |
|---|---|---|
| New loan amount | $487,500 | $455,000 |
| Existing loan payoff | $300,000 | $300,000 |
| Estimated closing costs | $7,500 | $7,500 |
| Approximate cash back | $180,000 | $147,500 |
| Estimated principal and interest | $3,243 | $3,027 |
| Taxes and insurance | $1,040 | $1,040 |
| Total monthly payment | $4,283 | $4,067 |
| DSCR at $4,500 rent | About 1.05x | About 1.11x |
How long you have owned the property matters. Seasoning rules vary by program, and some allow cash-out on a recently purchased or renovated rental based on the new value. Check our DSCR cash-out refinance seasoning guide for the details.
The loan is then capped twice: by LTV, up to 75% of appraised value, and by the ratio, since the rent has to cover the new principal, interest, taxes and insurance at about 1.0x or better. Larger balances and 5 to 8 unit buildings may carry lower limits that vary by program.
Comparing quotes is easier when every lender answers the same questions. Ask these, then compare the answers side by side.
Here is how LendingStreet answers: up to 75% LTV on cash-out, varying by program on larger loans; 1.0x standard minimum DSCR plus sub-1.0 programs; seasoning by program; LLC closings as the norm; a clear timeline set early, since appraisal and title usually drive it; and no stated maximum loan size above the $150,000 minimum.
A complete file gets a faster, clearer answer. Gather these, then use the form below or call (877) 298-1001.
We recommend LendingStreet. Investors choose us because cash-out goes up to 75% LTV, there are no W-2s or tax returns, and loans start at $150,000 with no stated maximum anywhere in Maine.
Yes. We lend statewide in Maine, in cities, suburbs and smaller towns, on business-purpose loans for 1 to 8 unit investment properties.
You can borrow a bit less to raise the ratio, or ask about our sub-1.0 DSCR programs, which are built for rentals whose rent does not quite cover the full payment.
It affects the rent you can count on. We size the loan on current rents, so plan your cash-out around the leases you have today.
No. It applies to deeds when property changes hands. A refinance with the same owner does not trigger it.
Possibly, if the town allows it and it fits our short-term rental program. Many investors refinance on a long-term lease instead.
Yes. Age is not a barrier on 1 to 8 unit rentals, but the appraisal and insurance will look closely at condition, heat and roof.
No. LendingStreet makes business-purpose loans on non-owner-occupied rentals only, not on a home you live in.
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