Carrington Mortgage Services LLC is a subdivision of Carrington Holding Company, LLC that provides support for both mortgagors and realtors in relation to mortgage loan services. The branch is founded in 2007. This mortgage services company is based in Anaheim, California.
It has provided more than $10 billion mortgage services support since its development. Carrington Mortgage Services LLC is licensed to help customers find and get a loan in 49 states across United States, from California to Alaska.
The company wants to help customers selecting suitable loan programs and agreements, aid them throughout the whole process, and support customers to make their payments on time. The mortgage service company prides its excellent customer service. Its mission is to promote company’s growth through superior service and quality.
Carrington Mortgage Services LLC values virtue, transparency, and justice. In line with those values, the company employs and retains first-rate Mortgage Professionals.
These Mortgage Professionals have obtained federal and state license. They are eager to help customers getting the best experience and service during the mortgage loan process.
The Types of Loans Offered at Carrington Mortgage Services
There are several types of loans offered at Carrington Mortgage Services LLC. These loans aim to aid people from various different background, ensuring that customers will get positive experience.
The first types of loans are the conventional ones. Federal Housing Administration (FHA) Loans is the more flexible type of loan that is insured by Department of Housing and Urban Development. The down payment needed is only around 3.5% and you do not need high credit scores (minimum 500 credit scores).
Carrington Mortgage Services LLC also offers Conventional Loans with distinctive maximum amounts according to number of family members and location. It offers two payment options which are 30 years and 15 years, both with fixed rates.
Next type is Carrington Jumbo Loans. This is a type of mortgage with the amount of loan exceeding Fannie Mae and Freddie Mac conventional loan ceiling, which is currently at $729,750 depending on the location.
Jumbo Loans will finance up to 80% of your home value. For primary residences, it offers rate/term and cash-out refinance as well as purchase options.
Rate/term refinance and purchase choice are offered to secondary homes. It applies to one to two units properties. Low, mid, or high rise condominiums are eligible for this loan type.
Carrington Mortgage Services LLC also accommodates lower income borrowers with two loan types. There are Down Payment Assistance (DPA) Programs and USDA Loans.
DPA programs assist prospective home buyers to pay down payments and closing costs. The company has conducted 53 DPA programs in 13 states so far.
Meanwhile, USDA Loans aim to aid low income people in buying or refinancing homes in rural locations. There will not be down payments required for this type of loan.
However, borrowers need to own minimum 550 FICO credit scores (500, if your loan is aided by Carrington Mortgage Services LLC). You can build, renovate, move a home with the fund obtained from this loan.