Carrington recently launched the Carrington Flexible AdvantageSM which gives borrowers with less than perfect credit and/or recent credit events (like a late payment or recent bankruptcy) the opportunity to buy or refinance a home.
Not sure if this loan is the right fit for you?
Check out how we helped these borrowers buy a home.
Borrower # 1
- Credit score: 642
- Property:
Non Warrantable CondoA non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or Fannie Mae, and as such, mortgage financing for this type of property is considered by most banks to be more “risky.”
- Loan Amount: $650,000
- Chapter 13 bankruptcy discharged just 6 months prior
- Home foreclosure completed 11 months ago
- Zero late payments (over 30 days) on the current rental property
- 80% loan-to-value (LTV)
- 20% down payment
This borrower was approved.
Borrower # 2
- Credit score: 720
- Loan amount: $81,600
- Chapter 7 bankruptcy discharged 2 years ago
- Home foreclosure 2 years ago
- 85% loan-to-value (LTV)
- 25% down payment
This borrower was approved.
