Renovo Financial for Maine investors
Renovo Financial is the largest Chicago-based hard money lender. Founded 2011, they've closed thousands of loans across the Midwest and have particularly deep penetration in Chicago, Indianapolis, and Milwaukee. Strong relationships with the local broker community make them a default first-call for many Chicago investors.
Maine context
Maine seasonal rental market. Coastal STR potential.
How Renovo Financial positions in Maine
Within Maine, Renovo Financial competes alongside other DSCR lenders. Renovo Financial strengths: Chicago-based — strongest local market knowledge, experienced underwriting team. The medium aggregate DSCR economics of Maine create demand for Renovo Financial programs in Portland and Bangor particularly.
City-level coverage in Maine
Renovo Financial provides DSCR coverage across Maine metros including Portland, Bangor, and Maine. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Renovo Financial program terms apply uniformly across Maine metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family |
| Loan size | $100K - $5.0M |
| Rates | 9.5%-12.5% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 6-24 months (hard money) / 30-year (rental) |
| Typical close time | 7-14 days typical |
| Maine property tax | 1.2% |
| Maine state income tax | 7.15% |
Renovo Financial strengths in Maine
- Chicago-based — strongest local market knowledge
- experienced underwriting team
- national reach with local depth
- strong fix-and-flip program
Ideal borrower: Experienced Chicago-area investor doing 2+ deals/year on SFR or 2-4 unit projects
FAQ
Likely; verify direct Maine coverage. Renovo Financial is based in Chicago, IL and operates in Chicago / national.
Portland is the top investor market in Maine and is generally within Renovo Financial Chicago / national footprint. Portland property tax follows the Maine state rate of 1.2 percent. Renovo Financial typically underwrites Portland acquisitions at standard rate sheets.
Yes. Bangor ranks among the larger Maine investor metros and sees consistent DSCR loan volume from Renovo Financial. Submarket variation within Bangor matters for property selection.
Renovo Financial applies the same rate sheet across Maine metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Portland, Bangor, and Maine all qualify for the same Renovo Financial program.
Renovo Financial indicative DSCR rate range is 9.5 to 12.5 percent with 1 to 3 points.
Maine seasonal rental market. Coastal STR potential. Renovo Financial follows standard business-purpose loan structures.
Renovo Financial funds fix-and-flip, BRRRR, new-construction, bridge, rental, multi-family in Maine.
Maine allows standard DSCR prepay structures; Renovo Financial typically uses 3-5 year step down.
Renovo Financial typical close: 7-14 days typical.
Bottom line
For Maine DSCR borrowers, Renovo Financial is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Renovo Financial.