Government Loans

FHA Loans
FHA Streamlined Refinance
FHA 203H
USDA
USDA Streamlined Assist
VA
VA IRRRL

FHA Loans

We are manual underwriting experts

FHA loans have helped credit challenged, first-time buyers, and lower-income families since the 1930s. But really, anyone can get an FHA loan. If you have a borrower with thin tradelines, non-traditional credit references may be eligible instead, making FHA a great option for those borrowers.

Program Features

FICOs 500+
Max LTV 96.5%
Loan amounts vary on location
Cash-out up to 80% LTV
Some may qualify for $100 Down Program
Non-traditional credit references allowed

Terms available

30, 25, 20, 15, and 10yr Fixed

Documents

FHA Product Matrix
FHA Simple Refi Matrix
Product Matrix – $100 Down Loan
FHA Guidelines
Government Overlays

Tools

See Today’s Rates (login required)
FHA Manual Underwriting Checklist

FHA Streamline Refinance

No Minimum FICO – No income documentation

FHA Streamline Refinance offers current FHA loan holders easy refinancing with minimal documentation and no appraisal. This program also offers lower total lender fees and reduced documentation compared to standard FHA loans.

Program Features

No income documentation
No appraisal required
No minimum FICO

Terms available

30, 25, 20, 15, and 10yr Fixed
30yr Fixed High Balance

Documents

Streamline Product Matrix
Underwriting Guidelines
Government Overlays

Tools

See Today’s Rates (login required)
Net Tangilble Benefit Worksheet
Fee Worksheet

FHA 203(h) Products

The FHA 203(h) Mortgage Insurance for Disaster Victims program is available on purchase and refinance transactions for individuals impacted by disasters designated as Presidentially-Declared Major Disaster Areas (PDMDA). Currently available to qualifying renters/tenants and homeowners in PDMDA’s, some of which may qualify to purchase a new home with zero down payment. Refinance Transactions are available to current qualifying homeowners in PDMDA’s and may have the ability to refinance repairs, refurbishing, or rebuilding of their home up to 100% LTV.

Program Features

Home may be repaired, rebuilt, or purchased
Purchase or refinance
500 minimum FICO
Up to 100% LTV

Terms available

30, 25, 20, and 15yr Fixed
15-30yr Fixed High Balance

Documents

203(h) Product Matrix
Government Overlays

Tools

See Today’s Rates (login required)

USDA Loans

550 Minimum FICO – 100% Financing Available

USDA loans are used primarily to help low-income individuals or households purchase homes in rural areas. Deliver on your client’s dream of a property in a less-populated area with no money down and possibly no out-of-pocket expenses.

Program Features

Min FICO 550
Max LTV 100%, Zero down payment, zero out of pocket costs
Loan amounts are determined by qualifying ratios and county maximum income limits
Seller can pay closing costs and prepaids
No cash reserve requirements

Documents

USDA Product Matrix
USDA Underwriting Guidelines
Government Overlays

Tools

See Today’s Rates (login required)
Check eligibility by visiting http://eligibility.sc.egov.usda.g

USDA Streamlined Assist

No Minimum FICO – No DTI calculations

With Carrington’s USDA Streamlined Assist loan, borrowers can refinance an existing USDA loan with a simplified process requiring no appraisal, credit reports, property inspections, or DTI calculations. Typically, USDA loans are used to help low-income individuals or households finance homes in rural areas.

Program Features

Max loan amount determined by county limits
No minimum FICO if no lates in the past 12 months
No appraisal or property inspection
No cash-out

Terms available

30-year Fixed

Documents

Streamlined Assist Product Matrix
Underwriting Guidelines
Government Overlays

Tools

See Today’s Rates (login required)

VA Loans

Especially for qualified veterans, service members and their spouses

As one of the country’s largest VA mortgage loan servicers, Carrington Mortgage Services, LLC continues to serve those who served in our nation’s armed forces by offering incredibly favorable lending terms to our nation’s veterans. We deliver quality customer service, competitive rates, and numerous loan options to fit your clients’ financing needs.

Program Features

Min FICO 500
Max LTV 100%, Zero down payment, zero out of pocket costs
Loan amounts vary by geographic location

Terms available

30-year Fixed
30-year Fixed High Balance

Documents

VA Product Matrix
VA Underwriting Guidelines
Government Overlays
VA Borrower Fees & Charges
Nearest Living Relative Form
Disability Questionaire
Sponsorship Form
VA Guaranteed Home Loan Cash-Out Refinance Comparison Certification

Tools

See Today’s Rates

VA IRRRL Products

No Minimum FICO – No income documentation

Lowering rates and payments of existing VA loans is easy with Carrington. As one of the country’s largest VA mortgage loan servicers, we continue to “serve the underserved” by offering incredibly favorable lending terms to our nation’s veterans. The VA IRRRL is perfect for existing VA borrowers who may have some late mortgage payments and could benefit from better loan terms.

Program Features

No minimum FICO in most cases
Refinance of existing VA loan
No income documentation
No appraisal required

Terms available

15 & 30-year Fixed
15 & 30yr Fixed High Balance

Documents

VA IRRRL Product Matrix
VA IRRRL Product Guidelines
Government Overlays
VA IRRRL Borrower Fees & Charges

Tools

See Today’s Rates (login required)
CAREERSINVESTORSABOUT USCORRESPONDENT
An Equal Housing Opportunity Lender. Copyright 2007 - 2022 . Carrington Mortgage Services, LLC headquartered at 1500 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS)

Consumer Access Web Site: www.nmlsconsumeraccess.com.

The content of this website is intended for licensed third party originators or brokers only and may not be duplicated or dissemniated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.

Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

arrow-right linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram