What are the Carrington Flexible AdvantageSM Refinance Loans?
The Carrington Flexible Advantage (non-prime) and the Carrington Flexible Advantage Plus (near-prime) loans are an ideal solution for anyone with less than perfect credit to refinance their home. If you are not eligible for a conventional or government-backed loan this may be the right loan program for you.
Is the Carrington Flexible Advantage (CFA) right for me?
- Self-employed or 1099
- Credit scores down to 500
- High debt-to-income ratios
- Recent credit event – such as foreclosure, bankruptcy, short sale, missed credit card or late mortgage payments
- 30 & 15 Year Fixed Rate Loans
- 5/1, 7/1, 10/1 ARM Loans
Is the Carrington Flexible Advantage Plus right for me?
- Bankruptcy and foreclosures acceptable (must be 36 months out)
- A recent late payment on your credit report for an account that is current may be acceptable
- No mortgage insurance
- Credit scores down to 620
- Primary residences, townhouses and condos are OK
- W2s and bank statements acceptable for self-employed borrowers
- 5/1, 7/1 and 10/1 adjustable rate mortgages and 30 year fixed mortgage
Is a CFA Cash-out refinance right for me?
With a Carrington Flexible Advantage cash-out refinance you can access your home’s equity and take out as much as $750,000. These are great for those who may have less-than-perfect credit, late payments or are self-employed.
- Reduce high-interest debt
- Make home improvements
- Pay for college
- Buy a second home
- Bank Statement Loans
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.