Carrington Flexible Advantage Refinance

What are the Carrington Flexible Advantage^SM Refinance Loans?

The Carrington Flexible Advantage (non-prime) and the Carrington Flexible Advantage Plus (near-prime) loans are an ideal solution for anyone with less than perfect credit to refinance their home. If you are not eligible for a conventional or government-backed loan this may be the right loan program for you.

Is the Carrington Flexible Advantage (CFA) right for me?

• Self-employed or 1099
• Credit scores down to 500
• High debt-to-income ratios
• Recent credit event – such as foreclosure, bankruptcy, short sale, missed credit card or late mortgage payments
• 30 & 15 Year Fixed Rate Loans
• 5/1, 7/1, 10/1 ARM Loans

Is the Carrington Flexible Advantage Plus right for me?

• Bankruptcy and foreclosures acceptable (must be 36 months out)
• A recent late payment on your credit report for an account that is current may be acceptable
• No mortgage insurance
• Credit scores down to 620
• Primary residences, townhouses and condos are OK
• W2s and bank statements acceptable for self-employed borrowers
• 5/1, 7/1 and 10/1 adjustable rate mortgages and 30 year fixed mortgage

Is the Carrington Prime Advantage right for me?

• Credit scores from 660
• Purchase, refinance and cashout loans available
• Single-family homes, town houses and condos are allowed
• Loan amounts up to $2.5 million and cash-out up to $1 million
• Bank statements are acceptable to verify income in place of IRS tax documents for self-employed borrowers
• First-time homebuyers welcome
• Recent credit events such as bankruptcy, short sale, foreclosure and history of late payments are acceptable
• Fixed, Adjustable Rate, and Interest-Only Programs available
• No mortgage insurance

Is a CFA Cash-out refinance right for me?

With a Carrington Flexible Advantage cash-out refinance you can access your home’s equity and take out as much as $750,000. These are great for those who may have less-than-perfect credit, late payments or are self-employed.

• Reduce high-interest debt
• Make home improvements
• Pay for college
• Buy a second home
• Bank Statement Loans

How Do I Get a Carrington Flexible Advantage Loan?

Once you have decided a Carrington Flexible Advantage refinance loan will fit you best, contact us and speak with a Carrington loan officer.