Effective Monday, June 19, 2023, Carrington Mortgage Services, LLC (CLS) will introduce the following changes for the Non-QM Loan Programs:
The new 40-Year Fixed options are well-suited for borrowers looking for more affordable monthly payments and offers the following advantages:
The 40-year option is not available at this time for Adjustable Rate programs, Interest Only, and alternative documentation types such as 1-year Alt Doc, 1099, and P&L programs. Those may be introduced at a later date.
Contact your Account Executive or Relationship Manager with questions.
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Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00