Carrington Flexible Advantage

Home Loan

Carrington Flexible AdvantageSM

Carrington Flexible Advantage is our home loan product that 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:

Features*:

  • Purchase, Refinance and Cash Out Loan Programs available
  • Credit scores down to 550
  • Loan amounts up to $1.5 million and cash-out up to $250,000
  • 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

Carrington Flexible Advantage PlusSM

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

Features*:

  • Bankruptcy and foreclosures acceptable (must be 36 months out)
  • 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

Carrington Prime Advantage

Carrington Prime Advantage is a home financing solutions for those who have high credit scores but miss qualifying for a conventional, government, or Jumbo loan, and may have credit events over 4 years old. Offering competitive pricing and allowing for the use of alternative income documentation, Prime Advantage offers loans up to $2.5 million.

Features*:

  • Credit scores from 660
  • Purchase, refinance and cashout loans available
  • Single-family homes, town houses and condos are allowed
  • Loan amounts up to $2.5 million and cash-out up to $500,000
  • Bank statements are acceptable to verify income in place of IRS tax documents for self-employed borrowers
  • First-time homebuyers welcome
  • Recent credit events such as bankruptcy, short sale, foreclosure and history of late payments are acceptable
  • Fixed, Adjustable Rate, and Interest-Only Programs available
  • No mortgage insurance

*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 MA and ND. No cash-out available in TX.

How Do I Get Started?

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

Let's get started.

Call (888) 267-0584 or Start now