Updated First Time Investor LTV Requirements – CMS Non-QM Investor Advantage Program

Overview

Effective April 18, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce an Investor Advantage program enhancement to increase the maximum LTV to 75% for First Time Investors with higher FICO scores. The maximum LTV requirements for First Time Investors are outlined below:

• Maximum LTV = 75% with FICO ≥ 680 and DSCR ≥ 1.00, or
• Maximum LTV = 65% with FICO < 680 or DSCR < 1.00

Please Note: This change is effective for all new loan submissions and loans in the pipeline.

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.