Effective Thursday, August 9, 2018, Carrington Mortgage Services, LLC (CMS) will introduce the Investor Advantage Program. The Investor Advantage Program is well suited for Investors with some credit challenges and is convenient without the need for income documentation and traditional debt ratios to qualify. The borrower only needs to have positive cash flow for the subject property expressed as a Debt Coverage Ratio greater than 1.00.
Debt Coverage Ratio (DCR) is the expected Monthly Rents divided by the Total Monthly Payment. For example, if the expected gross rental amount for the property is $2000, then the total loan payment cannot exceed $2000. Other highlights are listed below.
Investor Advantage Program Terms
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Contact your Account Executive with questions.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00