Prime Advantage vs. Jumbo

October 27, 2020rashtonNews

Comparable Benefits with Easier Qualifications

Although the market for Jumbo loans is bouncing back for traditional banks, Carrington Mortgage Services offers borrowers a better-priced alternative – Carrington Prime Advantage℠ – that has comparable benefits with easier qualifications for loans up to $2.5 million. Dare to compare!

piggybank
“The Bank”
partnership
Carrington
One loan up to 90% LTV? No

Yes
We offer up to 90% LTV

DTI’s Up to 50%? No Yes
FICO’s as low as 660? No Yes
Our minimum is FICO 660
Less than a 2-year Income History? No Yes
We allow 1-year of tax returns or W-2s to verify income
Qualify with bank statements? No Yes
We allow 12 & 24 months of personal or business bank statements
12-month mortgage history? No Yes
We only need a 12 month mortgage history when others need 24 months!
Less than 7-year BK and FC Seasoning? No Yes
We require only 48 months seasoning for BK, FC, Short Sale, Modification or Deed In Lieu
Quick Approvals? Some may Yes
Since we underwrite and service ourselves, we control the turn times!