FLEXIBLE ADVANTAGE PLUS^SM

620 Minimum FICO – Alt doc allowed

This is a great program to energize your pipeline with self-employed borrowers you may have previously had to turn away. With Flexible Advantage Plus, bank statements can be used in place of IRS tax documents to verify income. This program also offers financing solutions for borrowers with recent credit events (late payments, Foreclosures, Bankruptcy). Credit scores down to 620 may qualify.

Products

• 30yr Fixed
• 5/6 ARM
• 7/6 ARM
• 40-year loan option available
• ITIN borrowers (non-US citizens who live and pay taxes in the US)

Matrices & Guidelines

• Carrington Flexible Advantage Plus℠ Product Matrix
• Carrington Flexible Advantage℠ Underwriting Guidelines

Tools

• P&L and 1099 Calculator
• Asset Conversion Calculator
• Bank Statement Calculator
• Non-QM Loan Submission Form
• Cover Letter (required)