Mortgages

Carrington Mortgage review: rates, terms and more

Learn about the different rates, terms, and products offered by Carrington Mortgage in this review. We'll show you how you can qualify even with a low score!

Advertisement

Carrington Mortgage: achieve homeownership soon

Carrington Mortgage LOGO
Read our Carrington Mortgage review and learn more. Source: The Insider Advisor

Are you looking for a lender that offers multiple loan options? Great! Then read our Carrington Mortgage review and learn more about what this lender offers.

Carrington Mortgage LOGO

Carrington Mortgage: how to apply

Learn how to apply for the Carrington Mortgage. Qualify with poor credit and enjoy several loan options – refinancing included. Keep reading.

In this blog post, we’ll explain the main features of this lender. We’ll also compare the pros and cons of working with Carrington Mortgage. So stick around and learn more!

Credit Score500 to 620;
Loans OfferedConventional, VA, FHA, USDA, fixed and adjustable rate. Rate-and-term, cash-out, and streamline refinancing;
Minimum Down PaymentAs low as 3%;
APRSee terms;
Terms15 and 30 years.

Carrington Mortgage review: what you need to know

Carrington Mortgage was founded in 2007 and had the main goal of helping people to achieve homeownership.

Also, it offers loans nationwide, except in Massachusetts and North Dakota.

Its multiple loan options include conventional, FHA, VA, and USDA, with fixed and adjustable rates.

Plus, customers can also refinance their mortgages.

Regarding interest rates, Carrington Mortgage doesn’t display them on its website.

As a result, you’ll need to speak with a loan officer for detailed information.

Additionally, this lender offers Carrington’s Flexible Advantage program.

It is destined for first-time buyers or self-employed customers.

Thus, it allows them to apply for a purchase or to refinance with little credit history. For that, they’ll need to provide their bank statements.

Carrington Mortgage main features

This Carrington Mortgage review brought a lender that offers fast preapproval and closing time.

Therefore, it appears to be a strong option for those looking for convenience and support when buying or refinancing a new home.

But is it the right option for you? Luckily we’re here to help you decide.

Further, compare the pros and cons of working with this lender below.

Pros

Black Couple Using Laptop Shopping Furniture For House After Relocation
Compare Carrington Mortgage’s main features. Source: Adobe Stock
  • Multiple loan options are available, including purchase and refinancing;
  • Several low-down-payment options;
  • Qualify for this lender with poor credit through Carrington’s Flexible Advantage program;
  • Enjoy a first-time homebuyer program.

Cons

  • This lender doesn’t display its rates online;
  • Not available in Massachusetts and North Dakota.

Credit score required to apply

Borrowers must meet some eligibility criteria to qualify for this lender, including a minimum credit score.

However, the exact number will depend on the loan you’re applying for.

For example, for conventional loans, you’ll need at least 620. For VA and FHA, borrowers can qualify with a minimum of 500.

Carrington Mortgage also offers Carrington’s Flexible Advantage program. It allows you to qualify even with poor credit.

Carrington Mortgage application process: how does it work?

Carrington Mortgage, shown in this review, delivers a simple and intuitive application process.

You can complete it fully online and also submit documents electronically.

Do you want to learn more about how the application process for this lender works?

Then keep reading the following article. We’ll explain everything your need to learn!

Carrington Mortgage LOGO

Carrington Mortgage: how to apply

Learn how to apply for the Carrington Mortgage. Qualify with poor credit and enjoy several loan options – refinancing included. Keep reading.

About the author  /  Luis Felipe Regueira

I needed to learn about finances when I was in culinary school and wanted to save money to start my own business. So I haven't stopped because I believe studying and writing about the topic can help more people achieve their goals. Currently, I write about finances and run a small coffee shop.

Trending Topics

content

Learn How to Apply for Ink Business Cash® Credit Card!

Discover the advantages of the Ink Business Cash® Credit Card: fair credit access, no annual fees, and a chance to earn cash back rewards.

Keep Reading
content

Caliber Home Loans: how to apply

Applying for a loan doesn't have to be difficult. Learn how to apply for Caliber Home Loans. Several loan options. Full customer service.

Keep Reading
content

Netspend® Prepaid Card review: rates, pros and cons

Looking for a prepaid card? Check out our Netspend® Prepaid Card review! Earn cash back on select merchants. Apply with no credit check!

Keep Reading

You may also like

content

How to Apply for the Group One Platinum Card?

Learn how to apply for the Group One Platinum Card. Find out if it's good for you. Enjoy 0% APR! Qualify with bad credit!

Keep Reading
content

Apply for the Reflex Mastercard® and be eligible for credit even in debt

This detailed article teaches how to apply for the Reflex Mastercard® Credit Card. Fast application! Enjoy Mastercard benefits!

Keep Reading
content

Alaska Airlines: learn how to buy cheap flights

Need to fly through the U.S. without breaking your budget? Read now to learn how to buy cheap Alaska Airlines flights!

Keep Reading