Non-QM Loans

CARRINGTON PRIME ADVANTAGE℠
Carrington Flexible Advantage Plus℠
Carrington Flexible Advantage℠
Carrington Investor Advantage (DSCR)

The Carrington Prime Advantage℠

660 Minimum FICO with bank statement and W2 income documentation

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

Tools

Carrington Flexible Advantage PlusSM

620 Minimum FICO – Alt doc allowed

This is a great program to energize your pipeline with self-employed borrowers you may have previously had to turn away. With Flexible Advantage Plus, bank statements can be used in place of IRS tax documents to verify income. This program also offers financing solutions for borrowers with recent credit events (late payments, Foreclosures, Bankruptcy). Credit scores down to 620 may qualify.

Products

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

Matrices & Guidelines

Tools

Carrington Flexible AdvantageSM

550 Minimum FICO – Alt doc allowed

If you have borrowers with recent credit events (late payments, Foreclosures, Bankruptcy) and or credit scores down to 550, Flexible Advantage is the Non-QM loan program you’ve been looking for. Alternative documentation/bank statements can be used to verify income in place of IRS Tax documents. Available on purchases, refinance, and cash-out refinance loans.

Products

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

Matrices & Guidelines

Tools

Carrington Investor Advantage

Qualify using property cash flow

Carrington’s new Investor Advantage Program, which doesn’t require personal income for qualifying, could be the competitive edge you need to reach new clients. First-time investors are allowed, and there’s no cap on the number of investment properties the borrower can own (max five with CMS). Only three years of seasoning is required on foreclosure, short sale, bankruptcy, or deed-in-lieu.

No employment or income documentation required. The borrower only needs to have a Debt Coverage Ratio (DCR) greater than or equal to .75.

Products

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

Documents

Tools

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An Equal Housing Opportunity Lender. Copyright 2007 - 2022 . Carrington Mortgage Services, LLC headquartered at 1500 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)

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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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