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New Temporary Rate Buydown Program

July 17, 2023


Effective July 17, 2023, Carrington Mortgage Services, LLC (CMS) is pleased to introduce a new temporary rate buydown program which provides affordable options for prospective homebuyers.  Temporary buydowns are when up-front funds are deposited into a buydown custodial account to temporarily reduce the interest rate, as well as the effective monthly mortgage payment, for a specific timeframe.

The new temporary rate buydown program is available for all FHA, VA and Conventional Conforming purchase transactions with the *Conventional exceptions listed below.  Borrowers must qualify at the note rate. All buydown fees must be seller-paid and comply with the interested party contribution limit for the applicable product. CMS offers the following buydown options:

  1. 3-year: 3/2/1
  2. 2-year: 2/1
  3. 1-year: 1/0

Ineligible Loans

Buydowns are not available for the following:

  • Non-Agency loan products
  • Conventional investment properties
  • Conventional manufactured properties
  • Conventional 3-4 Unit Home Possible loans,
  • Second Lien loan products
  • All Refinance transactions across all loan types


Please contact your Account Executive or Relationship Manager with Questions

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Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2024 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site:

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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

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