FLEXIBLE ADVANTAGE^SM

550 Minimum FICO – Alt doc allowed

If you have borrowers with recent credit events (late payments, Foreclosures, Bankruptcy) and or credit scores down to 550, Flexible Advantage is the Non-QM loan program you’ve been looking for. Alternative documentation/bank statements can be used to verify income in place of IRS Tax documents. Available on purchases, refinance, and cash-out refinance loans.

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℠ Product Matrix
• Carrington Flexible Advantage℠ Underwriting Guidelines

Tools

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