Announcement 22-0008: Carrington Investor Advantage Program Enhancements

Overview

Effective March 21, 2022, Carrington Mortgage Services, LLC (CMS) is pleased to announce the following enhancements for the Investor Advantage loan program:

• Increased Maximum LTV from 82.50% to 85% for the 700 FICO band with loan amounts up to $1,000,000.
• Increased the permitted interested party Seller Contributions from 2% to 4% toward closing.
• Gift Funds are now acceptable for down payment provided minimum borrower investment requirements are met. Must be from relative and a signed Gift Letter is required.  Sources of funds used for the minimum required investment and reserves must be owned by the borrower.
• Reduced the required Borrower Contribution to 5% of borrower’s own funds.

Resources

Refer to the Carrington Investor Advantage Program Guidelines and Matrix available on Carrington Correspondent.com for additional information.

Contacts

Please contact CorrespondentRM@carringtonms.com with any questions.

Carrington thanks you for your business.