• Government and conventional loans that don’t fit government and conventional guidelines
• Self-employed and alternative documentation borrowers
• Good credit borrowers
Eligible Property Types Include; SFR, PUD, Townhome, Condominium, 2 Unit, Modular and Mixed-Use Properties.
| Full Doc | Bank Statement |
|---|---|
| 660 Min FICO | 660 Min FICO |
| 90% Max LTV | 90% Max LTV |
• Loan amounts to $3.5M
• Cash-out limits to $750,000
• Up to 50% DTI
• Mortgage history 0x30x12
• Seasoning: 48 Mo. from ch. 13,11 or 7 bankruptcy
• Seasoning: 48 Mo. from foreclosure or short sale
• Fixed-rate, ARM, & IO ARM options
• Asset conversion
• Borrowers who are on the road to repairing their credit
• 620 FICO borrowers who need cash-out up to 75% (see matrix for details)
• Self-employed or Alt doc (bank statement or W2)
Eligible Property Types Include: SFR, PUD, Townhome, Condominium, 2-4 Unit, Modular, Hobby Farms, and Mixed-Use Properties
| Full Doc | Bank Statement |
|---|---|
| 620 Min FICO | 620 Min FICO |
| 80% Max LTV | 80% Max LTV |
• Loan amounts up to $2M
• Cash-out up to $500K
• Up to 80% cash-out (full doc & 620+ FICO)
• Up to 50% DTI
• 1×30 mortgage lates in the last 12 months
• Seasoning: 36 Mo. from ch. 13,11 or 7 bankruptcy
• Seasoning: 36 Mo. from foreclosure or short Sale
• Fixed-rate, ARM, & IO ARM options
• Minimum 550 FICO
• Consumer credit challenges with consistent housing history
• Credit grades for 24 Months from housing event to no seasoning required from housing event
• Documentation-Full Doc (2-Yrs W-2/1099 or 2-Yrs Tax Returns) & Bank Statements, Asset
Eligible Property Types Include: One Unit Single Family Residences (Attached and Detached), PUDs (Attached and Detached), Condos (Low and High Rise), Site Condo, Townhouse, 2-4 Unit Properties, Modular Homes, Hobby Farms, and Mixed-Use Properties.
| Full Doc | Bank Statement |
|---|---|
| 550 Min FICO | 620 MIN FICO |
| 80% MAX LTV | 80% MAX LTV |
• Loan amoints up to $1.5M
• Cash-out up to $250K
• Up to 50% DTI
• Up to 0x120 mortgage lates
• Seasoning: 1 day from ch. 13,11 or 7 Bankruptcy
• Seasoning: 1 day from foreclosure or short sale
• Fixed-rate, ARM, & IO ARM options
• First-time investors
• Investors who need cash-out (up to 750k)
• No residual income required
Eligible Property Types: One Unit Single Family Residences (Attached and Detached), PUDs (Attached and Detached), Condos (Low and High Rise), Site Condo, Townhouse, 2-4 Unit Properties, Modular Homes
• 620 Min FICO
• 82.5% MAX LTV
• No income documentation required
• No employment verification
• Minimum 3 months reserves
• Up to $2M
• Up to $750k cash-out
• Minimum DSCR .75
• Fixed-rate, ARM, & IO ARM options
Loan Submission Form
Non-QM Cover Letter (required for all submissions)
Bank Statement Calculator
DSCR Calculator
Self-Employed Income Calculator
Housing Wire
An Equal Housing Opportunity Lender. Copyright 2007 - 2019. Carrington Mortgage Services, LLC headquartered at 1600 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.