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 CarringtonWholesale.com for additional information.

Contacts

Please contact your Account Executive or Account Manager with any questions.
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