Carrington Mortgage Services Review
Founded 2007 · Anaheim, CA · Nationwide
4.0
Editor Rating
Carrington Mortgage Services is a vertically integrated lender and servicer with a deep non-prime and non-QM focus. Its "Flexible Advantage" series targets self-employed and credit-challenged borrowers, and consumers can apply directly through Carrington's retail channel.
Editor's Take
One of the most established non-QM players, and unusually willing to work with lower credit scores and recent credit events. You can apply directly, but compare its servicing reputation and costs against direct-lender alternatives.
— Bill Rice, 30+ year mortgage lending veteran
Carrington Mortgage Services Review: The Full Breakdown
Carrington Mortgage Services has spent more than a decade as one of the most committed non-prime and non-QM lenders in the market. Its "Flexible Advantage" series is purpose-built for borrowers who do not fit agency guidelines — including the self-employed, those with recent credit events, and borrowers with credit scores starting around 600, which is lower than many competitors will go.
For a consumer, an important point in Carrington's favor is access: unlike broker-only non-QM lenders, Carrington runs a retail channel, so you can apply directly. Its menu is wide, spanning bank statement, asset, 1099, P&L, and ITIN programs, and because Carrington also services loans it keeps many of them in-house rather than selling them off.
The cautions are worth taking seriously. Carrington operates squarely in the non-prime space, so pricing and fees reflect the added risk, and its loan-servicing arm has drawn mixed consumer reviews over the years. None of that disqualifies it — for a borrower who has been turned down elsewhere, Carrington's flexibility can be exactly what gets a deal done — but it is a lender to shop against direct competitors on both rate and total cost before committing.
Pros & Cons
Pros
- Strong non-QM focus, including lower-credit borrowers (from ~600)
- Consumer-direct retail channel — you can apply directly
- Flexible Advantage series spans bank statement, asset, 1099, P&L, ITIN
- Also services loans, so it keeps many in-house
Cons
- Geared toward non-prime — pricing reflects added risk
- Servicing reputation is mixed; read reviews carefully
- Higher origination costs on some programs
Loan Products Offered
Eligible Property Types
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Carrington Mortgage Services Review: Frequently Asked Questions
Is Carrington Mortgage Services a legitimate lender?
Carrington Mortgage Services is an established lender founded in 2007 and headquartered in Anaheim, CA. It lends nationwide and specializes in bank statement loans, self employed mortgages, non qm loans, asset depletion loans, 1099 income loans, profit and loss loans, no tax return mortgages and itin mortgages. To verify it for yourself, confirm Carrington Mortgage Services's current NMLS registration and state licensing, check its Better Business Bureau (BBB) profile and reviews, and compare written quotes before you apply.
What are the pros and cons of Carrington Mortgage Services?
Pros: Strong non-QM focus, including lower-credit borrowers (from ~600); Consumer-direct retail channel — you can apply directly; Flexible Advantage series spans bank statement, asset, 1099, P&L, ITIN. Cons: Geared toward non-prime — pricing reflects added risk; Servicing reputation is mixed; read reviews carefully; Higher origination costs on some programs.
Does Carrington Mortgage Services offer bank statement loans?
Yes. Carrington Mortgage Services offers bank statement loan programs that qualify self-employed borrowers using 12–24 months of bank deposits instead of tax returns or W-2s — useful for business owners and 1099 earners with non-traditional income.
What credit score do you need for Carrington Mortgage Services?
Carrington Mortgage Services's published minimum credit score is 600. A higher score generally unlocks better rates and higher leverage. Requirements vary by loan program and are subject to change.
What rates and fees does Carrington Mortgage Services charge?
Carrington Mortgage Services's rates run approximately 7.25%–10% with origination fees of 0–2.5 points, on loans from $100K to $4M (up to 85% LTV). All figures are approximate and subject to change — request a written quote for your scenario.
How fast can Carrington Mortgage Services close a loan?
Carrington Mortgage Services typically closes in 25–45 days, depending on the loan program, the property, and how quickly you provide documentation.
Disclaimer: Rates, terms, and requirements shown are approximate and based on publicly available information as of March 2026. Actual terms may vary based on your credit profile, property details, and market conditions. Always verify current terms directly with the lender before making financing decisions. Self-Employed Lending Hub provides editorial reviews for educational purposes and does not guarantee loan approval or specific terms.