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Carrington Mortgage Services, LLC
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Carrington Non-QM Programs

As a leader in Non-QM lending, Carrington is here to support you and your borrowers and real estate investors.

PRIME ADVANTAGESM

660 Min FICO - For borrowers who just miss qualifying for Agency or Jumbo financing.
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INVESTOR ADVANTAGESM (DSCR)

For property investors who want to skip the income qualifying process.
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FLEXIBLE ADVANTAGE PLUSSM

For borrowers who have recently re-established credit scores 620 and above.
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FLEXIBLE ADVANTAGESM

For borrowers who have recent housing events and FICO down to 550.
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LEADING IN NON-QM LENDING

  • We write the guidelines and as the end investor, we have the final say
  • Exceptions granted with acceptable compensating factors
  • FICOs 550 and up
  • Our bank statement programs start at 600 FICO
  • No bankruptcy seasoning required
  • Mix and match income documentation, let us show you how
  • Our specialized Non-QM credit, operations, support and setup teams only work on Non-QM loans to deliver accuracy and speed
  • 40-year loan option available
  • ITIN borrowers (non-US citizens who live and pay taxes in the US)
 
 

Non-QM Program Comparison

Credit Parameters Prime Advantage Flexible Advantage Plus Flexible Advantage Investor Advantage
Minimum FICO 660 620 550 620
Mortgage/Rental History 1x30 1x30 0x60 up to 0x120 1x30
BK/FC Seasoning 48 months 36 months 0-24 months 36 months
Max DTI 43% standard (expanded to 50%) 50% standard 43% standard (expanded to 50%) DSCR < 1.0 and No DSCR available
Residual Income $2,500 + $150/dependent $2,500 + $150/dependent $1,500 + $150/dependent None
Reserves 6, 9, or 12 months based on loan size 6, 12 months 3, 6 months 3 months
LTVs Up to 90% purchase/rate-term 80% cash-out 80% purchase/rate-term 75% cash-out 80% purchase/rate-term 70% cash-out 85% purchase/rate-term 75% cash-out
Max Loan Amount $3.5 million $2 million $1.5 million $3 million
Cash-Out Maximum $1 million $500k $500k $1 million

Other Parameters Prime Advantage Flexible Advantage Plus Flexible Advantage Investor Advantage
Product Type 15, 30 & 40 year fixed
5/6, 7/6 ARM
5/6, 7/6 interest only
15, 30 & 40 year fixed
5/6, 7/6 ARM
5/6, 7/6 interest only
15, 30 & 40 year fixed
5/6, 7/6 ARM
5/6, 7/6 interest only
15, 30 & 40 year fixed
5/6, 7/6 ARM
5/6, 7/6 interest only
Ineligible States MA, (WV: no interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed MA, (WV: no interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed MA, (WV: no interest-only) NY: Max Conf Balance + $1 NY: CEMA not allowed MA
No interest-only in WV
QM Fees Limited to Sect. 32, 5% limit Limited to Sect. 32, 5% limit Limited to Sect. 32, 5% limit Limited to Sect. 32, 5% limit
INVESTORSabout uswholesale

Equal Housing Opportunity An Equal Housing Opportunity Lender. Copyright 2007 - 2025 . 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.

The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services, LLC 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

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