Carrington Mortgage Services

CMS Expands Affordability-Minded Offerings

Posted on by TMN Editor
Carrington Mortgage Services expanded its offerings to include 40-year loans and temporary buydowns as homebuyers prioritize affordability in today’s tough market. The lender said it aims to offer greater affordability to homebuyers, especially first-timers, buyers who are in the process of improving their credit, and those with non-traditional incomes.  “At Carrington, it’s our company’s mission to enable a lifetime of simple and attainable homeownership,” said Greg Austin, EVP of Mortgage Lending for CMS. “For homebuyers looking for greater affordability, our 40-year loan and temporary buydowns are options that we are proud to offer.” Broad offerings are especially important in the age of gig work and side hustles. One study found that gig workers make up a full quarter of the…

Carrington Adding Assumable Loans To Its Services

Posted on by TMN Editor
Carrington Mortgage Services, a private non-bank lender, is adding assumable mortgages to its list of services. Assumable mortgages allow buyers to assume responsibility for a seller’s loan terms. This includes the current balance, interest rate, remaining term, and any other terms of the mortgage. “Carrington is committed to ensuring borrowers have every possible opportunity to obtain a loan on the home they want,” said Greg Austin, EVP, Mortgage Lending for CMS. “Assumable mortgages are another loan option that Carrington is educating home sellers and buyers about in this very complex real estate market.” Buyers who have the opportunity to assume a mortgage with a low interest rate could see significant savings over the life of the loan. Carrington is alerting…