Carrington Flexible Advantage

Home Loan

Carrington Flexible AdvantageSM

Test Carrington Flexible Advantage is our home loan product which is an ideal solution for consumers with lower credit scores, high debt-to-income ratios, who are self-employed or need help documenting their income, or who have had a recent credit event – such as foreclosure, bankruptcy, short sale, missed credit card or late mortgage payments – and may not be eligible for conventional or government loan products.

Highlights of the Carrington Flexible Advantage* loan for purchase or refinancing include:


  • Purchase, Refinance and Cash Out Loan Programs available
  • Credit scores down to 500
  • Loan amounts up to $2 million and cash-out up to $750,000**
  • Recent credit events such as bankruptcy, short sale, foreclosure and history of late payments are acceptable***
  • Single-family homes, town houses and condos are allowed
  • Bank statements are acceptable to verify income in place of IRS tax documents for self-employed borrowers
  • Cash-out refinance allows you to payoff higher interest rate loans, consolidate debt, pay for home improvements or college, and possibly lower overall monthly payments
  • Fixed and Adjustable Rate Programs available
  • No mortgage insurance required

The Carrington Flexible Advantage PlusSM

If you have a less than perfect credit and have a history of late payments but are current, our Plus program offers may be right for you.


  • Bankruptcy and foreclosures acceptable (must be 36 months out)
  • Late payments on an account may be acceptable if they are brought current
  • Borrow up to $2 million
  • No mortgage insurance required
  • Credit scores down to 620
  • Primary residences, town houses and condos are OK
  • W2s and bank statements acceptable for self-employed borrowers
  • 5/1 and 7/1 adjustable rate mortgages and 30 year fixed mortgage

How Do I Get Started?

Once you have decided to move forward, contact us and speak with a Carrington loan officer.

We will be happy to answer any questions and walk you through the application process.

Call (888) 267-0584 or Start now

*Carrington's Flexible Advantage and Advantage Plus product requirements vary depending on the consumer's credit grade, Loan-To-Value, Debt-To-Income, and FICO scores and may require reserves from 3 to 6 months. Ask your Loan Officer for additional details and requirements. NOTE: Not available in AK, MA, NY, WV and ND.

**Cash-out limited to $750,000 based on borrower's Loan To Value, Credit Score and Loan Amount. Certain property types are ineligible including but not limited to Rural Properties, Co-ops, Manufactured homes, and Mixed Use Properties. The consumer may be able to reduce their monthly payment by refinancing, however, the consumer's total finance charges may be higher over the life of the loan. Contact your Loan Officer for additional information.

***Credit events include, but are not limited to, recent late charges (allows no 60 day lates within last 12 months); foreclosure; short sale; deed-in-lieu and modifications (24 month seasoning requirement), or bankruptcy (12-24 months seasoning requirement based on credit grade). Cash out of Investment properties are not allowed in Texas.