Carrington Mortgage Services Review 2025

Carrington Mortgage Services has been in business since 2007. It is headquartered in California and originates loans in 49 states. The company offers a wide range of loan options, including mortgages for borrowers with credit scores as low as 500. Since its founding, it has worked with more than 1.4 million customers.

Pros and cons of Carrington Mortgage Services

Affordability: 2.6/5

Because of higher interest rates than Bankrate's averages, Carrington Mortgage Services scored 2.6 out of 5 stars for affordability. 

• Interest rates: The lender reported an annual percentage rate (APR) above Bankrate's national average mortgage rate, at the time of this review.
• Down payment: The company offers FHA loans, which typically require a 3.5 percent down payment, and conventional loans, which require at least 3 percent down. If you qualify, you can also get a VA or USDA loan, which both have no down payment requirements.
• Fees: Carrington doesn’t list fees online but has reported charging an underwriting fee. If you’re considering applying with Carrington, check your loan disclosure to get a full picture of the lender fees.
• Closing costs: Carrington estimates closing costs of 3 to 6 percent of the loan amount, which is fairly standard.

Availability: 5/5

Because of the company’s non-QM loan products for borrowers with poor credit and its widespread loan coverage, Carrington Mortgage Services scored 5 out of 5 for availability.

• Home loans offered: Carrington Mortgage Services offers a wide range of mortgage types, including non-QM loans for borrowers with bad credit and conventional loans. The lender also offers government-backed loans, such as FHA, USDA and VA loans.
• Footprint: The company is licensed to originate mortgages in every state except Massachusetts.
• Where to apply for a loan: You can start a mortgage application online at any time with Carrington.

Borrower experience: 3/5

Because of a lack of rate and fee transparency and fewer contact methods than other lenders, Carrington Mortgage Services scored 3 out of 5 for borrower experience.

• Application and preapproval process: To get prequalified with Carrington, you'll need to provide some financial information and wait to speak with a loan officer, who will suggest loan options for your needs. Once you're prequalified, you'll have a better idea of how much house you can afford. You can formally apply for a loan after a seller accepts your offer on a home.
• Transparency: While the company’s website clearly outlines credit score requirements for some loan products, there is a lack of transparency regarding rates or fees. 
• Customer service: You can call the lender at 888-267-0584 Monday through Friday between 10 a.m. and 9 p.m. ET. Other contact methods include sending an email and filling out an online form.

Carrington Mortgage Services is not accredited by the Better Business Bureau and does not hold a score from the organization at the time of this writing. The lender gets a “Great” rating on Trustpilot, however, that rating is only based on two reviews. Carrington was not featured in J.D. Power's most recent 2024 mortgage origination satisfaction study.  

What consumers say about Carrington Mortgage Services

On Bankrate, borrowers have generally negative comments about the lender, citing unsupportive customer service and issues with loan servicing. 

Carrington Mortgage in the news

In late 2022, the Consumer Financial Protection Bureau took Carrington Mortgage Services to task for a number of missteps, including wrongfully charging late fees and providing false information about the pandemic forbearance program.

A key point of differentiation for Carrington is the company’s non-QM offerings, which can help you buy a home if you don’t have great credit or a predictable income. If you’ve been rejected by other lenders, Carrington has three main products that might meet your needs. None of them require private mortgage insurance.

Carrington Flexible Advantage

With this loan option, borrowers with credit scores as low as 550 can borrow up to $1.5 million to buy a home.

Carrington Flexible Advantage Plus

This loan program requires a minimum credit score of 620 and a maximum loan amount of $2 million. It is a great option for those with late payment histories who are now in good standing. Borrowers who have faced bankruptcy or foreclosure must wait at least 36 months to be eligible.

Carrington Prime Advantage

Borrowers with higher credit scores (at least 660) who can't qualify elsewhere for conventional or government-backed mortgages are eligible to borrow up to $3.5 million, even with a recent bankruptcy or foreclosure.

Carrington Mortgage Services offers both rate-and-term and cash-out refinancing options. The lender lets borrowers refinance conventional loans along with those through the VA, FHA and USDA programs. However, the refinance rates and fees for these options aren’t available online. Instead, you’ll need to complete a form, and a loan officer will call you the following business day.

This company offers a variety of mortgage types to fit all situations. You can apply for a mortgage with Carrington Mortgage Services in-person at a branch location, online or by phone at 800-561-4567. Its customer service hours are Monday through Friday, 8 a.m. to 8 p.m. ET. Here are some tips to prepare for the process:

1. Check your credit report. Because Carrington caters to borrowers with lower credit scores, it’s not as important to check your credit report as compared to other lenders. Carrington expects to see some blemishes. However, you will benefit from improving your credit score as much as possible before applying.
2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements. Because Carrington also offers non-qualified mortgages, or non-QM loans, you might need to provide bank statements, too.
3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)