Carrington Mortgage Services, LLC (CMS) is pleased to announce the following guideline enhancements for the Non-QM loan programs (Prime Advantage, Flexible Advantage Plus and Investor Advantage). These changes are effective September 13, 2021.
The Prime Advantage program has the following enhancements:
Program Maximum LTVs | Primary Residence & Second Homes | |||||
Full Doc | Alt Doc | |||||
Loan Amount | Reserves | FICO | Purchase & R/T | Cash Out | Purchase & R/T | Cash Out |
$3,000,001 up to $3,500,000 |
12 Months | 720+ | 75% | 65% | 75% | 65% |
700 | 70% | 60% | 70% | 60% |
The Investor Advantage program has the following enhancements:
Flexible Advantage Plus Program
The Flexible Advantage Plus program has the following enhancement:
Please contact your Account Executive or Account Manager with any questions.
Carrington thanks you for your business.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00