Carrington Advantage Series

Carrington Advantage Series

Overview

Carrington Prime Advantage℠ program with Fixed, ARM and Interest-only ARM options. Carrington Prime Advantage allows alternative income documentation along with competitive pricing and loan amounts up to $2,500,000 and is designed for higher-credit-quality, non-agency borrowers who fall between the Carrington Flexible Advantage Plus (CFA+) program and conventional or jumbo loans.

Products

  • 30yr Fixed
  • Fixed & Interest Only
    • 5/1 ARM
    • 7/1 ARM
    • 10/1 ARM

Matrices & Guidelines

Texas Home Equity

Overview

We offer Non-QM, loan products for purchase, refinance and cash-out refinance with loan amounts up to $3 million, up to 90% LTV and NO MI.  Fixed and ARM options available. Borrowers with recent credit events (late payments, Foreclosures, Bankruptcy) and credit scores down to 500 may qualify. Alternative document programs / Bank statements accepted to verify income in place of IRS Tax documents. Includes Texas Home Equity (separate matrix below)

Products

  • 30yr Fixed
  • 5/1 ARM
  • 7/1 ARM
  • 10/1 ARM

Matrices & Guidelines

Texas Home Equity

Overview

Carrington is offering an Investment loan product for purchase, refinance and cash-out refinance with loan amounts up to $2 million, up to 80% LTV and NO Prepayment or MI! 5/1 and 10/1 LIBOR ARM options available. Borrowers with credit events (late payments, Foreclosures, Bankruptcy) and credit scores down to 620 may qualify. No employment or income documentation required. The borrower only needs to have positive cash flow for the subject property expressed as a Debt Coverage Ratio (DCR) greater than 1.00.

Products

  • 5/1 ARM
  • 10/1 ARM
  • 30yr Fixed

Documents

TURN TIMES

Initial Submission

2 Days

Underwriting

4 Days

RM Conditions Review

2 Days

Conditions Review

4 Days

Closed Loan submission

2 Days

Closed Loan Purchase Review

2 Days

Closed Loan Condition Review

1 Day