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Carrington Prime Advantage℠
The Carrington Prime Advantage℠
Carrington Prime Advantage program with Fixed, ARM and Interest-only ARM options. Carrington Prime Advantage allows alternative income documentation along with competitive pricing and loan amounts up to $2,500,000 and is designed for higher-credit-quality, non-agency borrowers who fall between the Carrington Flexible Advantage Plus (CFA+) program and conventional or jumbo loans.
Available Products for the Carrington Prime Advantage℠ Programs
- 30yr Fixed
- 5/1 ARM & IO ARM
- 7/1 ARM
- 10/1 ARM & 10/1 IO ARM
Carrington Flexible Advantage℠ Plus
Carrington Flexible Advantage℠ Plus
Carrington is now offering Non-QM, (Near Prime) loan products for purchase, refinance and cash-out refinance with loan amounts up to $2 million, up to 80% LTV.
Fixed, ARM & IO ARM options available. Borrowers with recent credit events (late payments, Foreclosures, Bankruptcy) and credit scores down to 550 may qualify. Alternative document programs / Bank statements accepted to verify income in place of IRS Tax documents. Includes Texas Home Equity.
Available Products for the Carrington Flexible Advantage℠ Programs
- 30yr Fixed
- 5/1 ARM & 5/1 IO ARM
- 7/1 ARM & 7/1 IO ARM
- 10/1 ARM & 10/1 IO ARM
Carrington Flexible Advantage℠
Carrington Flexible Advantage℠
Carrington is now offering Non-QM, (Non-Prime, Near Prime) loan products for purchase, refinance and cash-out refinance with loan amounts up to $1.5 million, up to 80% LTV.
Fixed, ARM & IO ARM options available. Borrowers with recent credit events (late payments, Foreclosures, Bankruptcy) and credit scores down to 550 may qualify. Alternative document programs / Bank statements accepted to verify income in place of IRS Tax documents. Includes Texas Home Equity.
Available Products for the Carrington Flexible Advantage℠ Programs
- 30yr Fixed
- 5/1 ARM & 5/1 IO ARM
- 7/1 ARM & 7/1 IO ARM
- 10/1 ARM & 10/1 IO ARM
Carrington Investor Advantage
The Carrington Investor Advantage Program
Carrington is now offering an Investment loan product for purchase, refinance and cash-out refinance with loan amounts up to $1.5 million, up to 80% LTV and NO Prepayment. 5/1 and 10/1 ARM options available.
Borrowers with credit events (late payments, Foreclosures, Bankruptcy) and credit scores down to 660 may qualify. No employment or income documentation required. The borrower only needs to have a Debt Coverage Ratio (DCR) greater than or equal to .75.
Available Products for the Carrington Investor Advantage Program:
- 5/1 ARM & 5/1 IO ARM
- 7/1 ARM & 7/1 IO ARM
- 10/1 ARM & 10/1 IO ARM
FHA
About FHA Products
The FHA program has been in place since the 1930s to help stimulate the housing market by making loans accessible and affordable. Traditionally, FHA loans have helped military families who return from war, the elderly, handicapped, or lower-income families, but really, anyone can get an FHA loan – they are not just for first-time home buyers.
Available Products
- 30yr Fixed
- 25yr Fixed
- 20yr Fixed
- 15yr Fixed
- 10yr Fixed
FHA Streamline Refinance
About FHA Streamline Products
FHA Streamline Refinance is a home financing solution for borrowers with an FHA Loan. This program offers lower total lender fees and reduced documentation compared to standard FHA loans.
Available Products
- 30yr Fixed
- 25yr Fixed
- 20yr Fixed
- 15yr Fixed
- 10yr Fixed
- 30yr Fixed High Balance
Documents
FHA 203H
About 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 the recent disasters designated as Presidentially-Declared Major Disaster Areas (PDMDA):
- Purchase Transactions are currently available to qualifying renters/tenants and homeowners in PDMDA’s and may have the ability to purchase a new home with zero-dollar down payment. For purchases, the property isn’t required to be located in the same area as the previous residence.
- Refinance Transactions are available to current qualifying homeowners in PDMDA’s and may have the ability to refinance the repairs, refurbishing or rebuilding of their home up to 100% LTV.
- To qualify, 203(h) loans must be initiated within a year of the PDMDA Declaration Date. See Product Matrix for program guidelines.
Available Products
- 30yr Fixed
- 25yr Fixed
- 20yr Fixed
- 15yr Fixed
- 30yr Fixed – High Balance
- 25yr Fixed – High Balance
- 20yr Fixed – High Balance
- 15yr Fixed – High Balance
FHA REO 203(b) Repair Escrow
About FHA REO Repair Escrow “203(b)” Products
FHA REO Repair Escrow program is intended to allow uncomplicated rehabilitation to a HUD owned home. This program is only available for HUD owned homes.
Available Products
- 30yr Fixed
- 15yr Fixed
- 30yr Fixed – High Balance
- 15yr Fixed – High Balance
USDA
About USDA Products
USDA loans are primarily used to help low-income individuals or households purchase homes in rural areas (USDA loans are not offered in the state of OH).
Available Products
- 30yr Fixed
USDA Streamlined Assist
About USDA Streamlined Assist
USDA loans are primarily used to help low-income individuals or households refinance homes in rural areas (Currently not available in Ohio).
Available Products
- 30yr Fixed
VA
About VA Products
These loans are made by a lender, such as a mortgage company, savings and loan, or bank and are insured by the US Department of Veteran’s Affairs. VA’s guaranty on the loan protects the lender against loss if the payments are not made, and is intended to encourage lenders to offer veterans loans with more favorable terms.
Available Products
- 30yr Fixed
- 30yr Fixed High Balance
VA IRRRL
About VA IRRRL Products
The Interest Rate Reduction Refinancing Loan (IRRRL) offers current VA mortgage holders an excellent opportunity to take advantage of low interest rates.
To learn more about the Value Point 4 (VP4) from CoreLogic, which may be required, contact Randy Reugger at (949) 214-1621 or rreugger@corelogic.com.
Available Products
- 30yr Fixed
- 15yr Fixed
- 30yr Fixed High Balance
- 15yr Fixed High Balance
Conventional
About Conventional Conforming Products
Carrington has a variety of conventional conforming and high balance (loan amounts up to $1.2 million) products that can meet the needs of your qualifying customers. Perfect for home purchase, rate/term refinance or cash out refinance.
Available Conventional Products
- 30 yr
- 20 yr
- 15 yr
Available High Balance Conventional Products
- 30 yr
- 15 yr
Freddie Mac Super Conforming
About Freddie Mac Super Conforming Product
Freddie Mac Super Conforming is a program for borrowers that offers higher maximum loan limits.
Available Products
- 30yr Fixed
- 15yr Fixed
Lender Paid Mortgage Insurance
About LPMI, Lender Paid Mortgage Insurance Products
Industry leading LPMI products for both refinance and purchase loans. A great alternative to PMI for borrowers who may require lower down payments and higher LTV than a standard conventional conforming loan products. Maximum loan amounts up to $1 million.
Available Products
- 30yr
Texas Home Equity
About Texas Home Equity Products
Conventional conforming refinance program for Texas only. Rate/Term and Cash-Out available.
Available Products
- 30 yr
- 20 yr
- 15 yr
HomeReady
About FNMA HomeReady Product
FNMA’s HomeReady is a program for borrowers that offers financing up to 97% LTV, low down payment, flexible sources of funds, and an affordable and cancellable monthly MI option. Borrowers do not need to be first time home buyers to qualify for the program.
Available Products
- 30 yr
- 20 yr
- 15 yr
- 10 yr
HomePossible
About FHLMC HomePossible
FHLMC’s HomePossible are programs for borrowers that offer financing up to 97% LTV, and flexible sources of down payments and income. Good for first time home buyers, move-up borrowers, retirees, and families in underserved areas.
Available Products
- 30 yr
- 20 yr
- 15 yr