Carrington Flexible Advantage Refinance

Home Loan

What are the Carrington Flexible AdvantageSM Refinance Loans?

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 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, townhouses and condos are OK
  • W2s and bank statements acceptable for self-employed borrowers

Carrington Prime Advantage 

Carrington Prime Advantage is a home financing solution 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 a Carrington Flexible Advantage Loan?

Once you have decided a Carrington Flexible Advantage refinance loan will fit you best, 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