Carrington Mortgage Services

Carrington Mortgage Services Reviews

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Written by Jennifer Schurman
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Edited by Sally Jones

About Carrington Mortgage Services

Carrington Mortgage Services (NMLS #2600) is a full-service mortgage lender that provides various loan options to a wide range of borrowers. The company was founded in 2007 and has since served over 1.4 million customers. It offers a digital loan servicing experience through its online loan portal and mobile app.

Pros
  • Check rates online
  • Flexible loan qualifications
  • Personalized online dashboard for account management
Cons
  • No in-person branches
  • No phone support on weekends

Featured Reviews

Fleetwood, PA
Verified purchase
John was assigned as my loan officer after a difficult and challenging three months trying to refinance my loan. John was familiar with the unconventional loan/deed issues that we...

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Lebanon, OH
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Carrington helped me to purchase my current home. Being a widow with a young child made homebuying a hard process. Carrington helped walk me through the process and directed me to...

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Rates

You can check rates for purchase loans on Carrington Mortgage Services’ website. From the home page, click “Purchase” and select that you’re not an existing customer. Once you answer questions about the home's purchase price, the property's ZIP code, your down payment amount, your income and your credit score, Carrington shows you loans you may qualify for along with interest rates and annual percentage rates (APRs).

CMS offers both fixed- and adjustable-rate loans. Adjustable-rate mortgages (ARMs) have an introductory fixed-rate period that typically lasts five, seven or 10 years before the rate changes on a regular basis. An ARM could be a good choice if you want a lower rate to start or plan to either refinance or sell your home before the rate adjusts.

According to data provided under the Home Mortgage Disclosure Act, Carrington’s average home purchase rate from 2019 to 2021 was slightly higher than the national average. In 2021, its average home purchase rate was 0.75% higher than the national average.

Carrington Mortgage Services average home purchase rate vs. national average

Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.

Application process

You can start the application process with Carrington Mortgage Services online by calling to speak with a loan officer. Be ready to answer questions about your income, assets and debts; the company uses this information to pre-qualify you for a loan.

During the application process, you’ll need to submit specific financial documents, such as W-2s, pay stubs, bank statements and previous years’ tax returns, to your loan officer.

Rosanne, a ConsumerAffairs reviewer from Hazlet, New Jersey, said of working with Carrington Mortgage Services:

"I can't say enough about my dealings with Ben, my loan specialist at Carrington Mortgage. … Ben is pleasant, knowledgeable, caring, and excellent with communication. He is easy to speak with and takes the time to explain every detail of the process and answer any questions you may have. My loan processor, Tiffany, was also excellent at keeping me informed as it came time to close. She responded to my emails immediately, which is not something you often find."

Carrington Mortgage Services application features

Loan types

Carrington Mortgage Services offers a variety of loan products, including:

The company also offers a loan option called Carrington Flexible Advantage, which it says is ideal for those with low credit scores or high debt-to-income ratios, those who are self-employed or don’t track income traditionally, or those with a recent credit event, like a foreclosure or bankruptcy.

Carrington also has a Flexible Advantage Plus loan for those who have lower credit scores but are current on their debts, and a Prime Advantage loan for those with a credit score of at least 660 who don’t qualify for a conventional or government-backed mortgage.

Fixed-rate loans come in 15-year or 30-year terms. ARMs are available as 5/1, 7/1 or 10/1 loans. (A 5/1 ARM means the borrower will have a fixed interest rate for five years, then the interest rate will adjust every year after.)

In 2021, CMS reported 11,272 home purchase applications; it closed on 6,243 home purchase loans (55%). About 12% of these home purchase applications were denied.

Loan applications for home purchases only by year

Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.

Refinancing

You can refinance with Carrington to pull cash out of your home's equity or change your rate or term. The company offers both conventional and government-backed refinance loans.

The majority of the mortgages Carrington Mortgage Services originated from 2019 to 2021 were for refinancing. In 2021, about 83% were for rate-and-term refinances and cash-out refinances combined. Only about 17% of its loans in 2021 were for home purchases.

Home purchase vs. refinance loans by year

Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.

Requirements

Carrington Mortgage Services provides general borrower requirements by loan type. For conventional loans, Carrington requires a credit score of at least 620 and a down payment of 20% or more. It does offer Home Possible loans that require as little as 3% down.

If you’re applying for an FHA or VA loan with Carrington, you need a credit score of at least 500. FHA loans require as little as 3.5% down, while the other government-backed loans don’t require money down.

Carrington’s Advantage loans permit credit scores down to 550 and allow you to qualify even with negative credit events.

National mortgage requirements by type

Cost and fees

Carrington Mortgage Services discloses some, but not all, fees online. Many of the fees you pay for your loan depend on the loan type, the loan amount, your down payment amount, where the property is located and other factors.

You’ll receive an estimate of closing costs and other fees after you apply for a loan from Carrington, but you can also ask a loan officer at the time you apply. At least three days before the closing, CMS will give you a finalized list of closing costs in a document called a Closing Disclosure.

FAQ

How does Carrington Mortgage Services work?

Carrington Mortgage Services offers purchase and refinance loans to customers across the U.S. To apply for a mortgage, you can start online or call the company. A loan officer works with you to determine your needs and guide you through the process, from pre-qualification through closing. After your loan closes, you can use the online dashboard to verify loan details, see account activity and make payments.

Is Carrington Mortgage Services legit?

Carrington Mortgage Services is a legitimate mortgage lender that’s been in business since 2007. The company offers a number of home purchase and refinancing options for borrowers throughout most of the U.S.

Where is Carrington Mortgage Services available?

Carrington Mortgage Services is available in all states except Massachusetts and North Dakota. The company has branch locations in Arizona, California, Connecticut, Florida, Indiana and Maryland.

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Carrington Mortgage Services Reviews

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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Customer ServicePunctuality & SpeedStaffLoan Process

    Reviewed Jan. 28, 2025

    Admiral ** helped me with my loan modification every step of the way. He answered all my questions in a decent amount of time, and I asked a lot! He was very forthcoming with information even if it wasn't what I wanted to hear—he gave me all the facts so I could make a sound informed decision. His customer service is spot on! To break it down, if you want someone who is going to be attentive, take their time with you, answer all your questions truthfully, and make sure you understand the process, then Admiral ** is who you want as your loan officer during these tough times. I can't say enough good things about this gentleman! Thank you so much!

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    Customer ServiceStaffLoan Process

    Reviewed Nov. 12, 2024

    My loan was transferred to this company earlier this month, and the process has been deeply flawed and frustrating. The portal I have access to only allows payments, with no option to view an updated statement. Despite calling multiple times to request one, I’ve received no resolution. During my most recent call, I was advised to sign up for the portal, which I did, only to then be told that receiving an updated statement would take 5-10 business days—pushing it nearly into the next billing cycle. This defeats the purpose of having a portal if important information isn’t readily accessible. While the customer service representatives were polite, they demonstrated a lack of accountability and contradicted what previous representatives had told me.

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      Customer ServiceSales & MarketingLoan Process

      Reviewed Oct. 30, 2024

      So I had a flood in my basement. The insurance company took almost 2 months to pay me. After I received a check it was made out to me and Carrington mortgage. Carrington has another department called lost track that handled their insurance. They gave me the option to overnight the check which cost me $80. I figured if I overnight it, it would expedite the process which it didn't. Lost track is a nightmare is a scam and they need to be investigated. They're supposed to send me a portion of my funds to start the repairs which they didn't. Every single step with them took about two weeks. They wanted to know what the fund is for. I told him that the insurance based it on my estimate I sent them the estimate. They needed to verify with Insurance Company that took them another two weeks after a month I decided to fix my basement with my own funds. Still they never release my partial payment.

      I called them and requested an inspection. They informed me that that would take 5 to 7 days after nine days. I called him back. They said it's over time so I will. "We will expedite it. The inspector should call you within five days after five more days." I finally get an inspection. The inspector came, did my inspection. I called lost track a week later to get an update so they can release my phone, they inform me that the inspector hasn't sent the report yet and give it another 5 to 7 days. After another week, I called again. They said oh we finally received the inspection report. Will send you a check out within 5 to 7 days after two weeks. I called and said I never received my check. They said, "Oh we're gonna have to put a stop for payments since you didn't receive your check, we didn't certify mailed The post office fault. It will take another five days before the fun can be released from the stop payment and then will mail it out to you. You should get it another Friday." So they keep stalling us every step is two weeks long.

      So right now I'm still waiting my check. They receive my check since August 24 and right now it's October 30. They need to be investigated fraud. Carrington is a fraud. LossTrack is a fraud. They taking my funds and using it for whatever installing me out on my payment there's no way that I should be waiting over two months for a check that needed to be endorsed by them. My basement been flooded since June and now it's still and now is Almost November and nothing. Carrington is the worst company ever. They can't send you a certified Letter for your check, but they can send you a certified letter when you're late on your mortgages.

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      Customer Service

      Reviewed Oct. 23, 2024

      My mortgage was sold to this company as my original mortgage was through US Bank. Upon receiving this notice I found that my bank account through US Bank had been shut down due to inactivity and my money was sent to unclaimed funds. I have since became disabled and receive disability social security and this mortgage company refuses my debit card as payment that has been provide to me from the US Government and I'm ♿disabled homebound so it's made it extremely difficult to pay my mortgage every month. It's been a nightmare for me. I've asked and asked every time they call or I call them to try and find a easier way for me to pay my mortgage but never have they obliged in doing so. I'm so worried of foreclosure just ahead...

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      Customer ServiceRatesTransparency

      Reviewed Oct. 16, 2024

      Carrington Mortgage Services LLC is the fraudulent financial institution that unfortunately legally operates in the US. This is the worst company I ever dealt with. They create mess in the statement, numbers never add up: they manage to change the amount of your fixed mortgage monthly payments, increasing it without your knowledge. No explanation given when you call. They impose fees, buy a new insurance and increase your monthly payments even though you have a full coverage with your HOA, then pretend that never received the insurance info from your HOA. They charge you property taxes, adding to your mortgage with an interest without your consent, even though we never had any agreement with Carrington regarding property tax payments.

      We were paying our taxes many years before this fraud came around and take over our mortgage from Bank of America. But amazingly after charging you property taxes, they do not make a payment to the government. Never deal with them. You will regret thousand times. The worst company ever. Carrington Mortgage Services should have been shut down long ago. Even after many complaints, investigations, and lawsuits against them, this company still operates and continues its deceptive and unlawful practices.

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      Reviewed Sept. 24, 2024

      Whatever you do stay away from Carrington Mortgage Services. They are known for making mistakes with your escrow account. Creating a shortage by overpaying on taxes, and then raising your payment to cover for their mistake, in hopes you can't afford an attorney to fight them over their mistake, in hope they can foreclose on your home so they can take it and sell it. That's what they are trying to do to me right now. 9-24-24. I'm getting ready to file a small claims lawsuit against them, they will be paying the attorney fees. The treasurer's office has all the evidence. You have to stand up against corrupt companies like this. Otherwise they will walk all over you and take your money or your home. They should be shut down for good!

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      Reviewed May 13, 2024

      I have never had a lender so unwilling to work with me. Their policies are terrible and they make life very difficult for the customer. I thought policies couldn't get any worse than when I was with Chase but I was very wrong. I am seriously considering taking the several thousand dollar hit to refinance with another company to cut all ties with Carrington.

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      Customer ServicePunctuality & SpeedStaffRates

      Reviewed April 10, 2024

      Best Catch Recommendation for Carrington Mortgage Services is: In 2020, my husband and I worked with Brendan ** to refinance our home mortgage and Brendan went above and beyond to make sure he got us the best rate. My husband and I had checked other sources but Brendan's customer service and his relentlessness to make sure we were taken care of exceeded our expectations. Recently we had been getting calls and emails from other loan officers from Carrington but I happen to see Brendan's most recent email contacting us about equity in our home and I remembered his name and how he helped us and I told my husband that we should reach out to Brendan again.

      Brendan gave us all the information and let us ask as may questions to gain a better understanding and he said he would send us information via email on the loan, amounts we could possibly take out and what that would look like for us going forward. He jumped right on getting that information to us quickly. Talking to Brendan makes you feel at ease and lye makes you feel as if he genuinely cares and we are not just a number. He does not rush you and makes sure your questions are answered. It is a pleasure working with him.

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      Customer ServicePunctuality & Speed

      Reviewed April 9, 2024

      I was charged a late fee of $70 on an underpayment of $66 when I misplaced my mortgage statement. I paid from an older bill which showed an incorrect amount as my payment had gone up and I forgot about the increase. We have never been late or short before and they would not waive the late fee. First time I asked, they refused but never called me back after saying they would look into it. Tried again 2 months later and was refused because they followed their policy. Basically took advantage of a senior that was never offered and forgot to ask for a waiver. Terrible and unsatisfactory customer service. I would not do business with them.

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      Customer ServicePunctuality & SpeedStaffLoan Process

      Reviewed Jan. 12, 2024

      Marine Corps Veteran. Carrington Mortgage put me on a forbearance agreement from 8/1/2023 to 12/31/2023. I contacted them prior to the end of the forbearance agreement and told them I needed a few more months and if they can extend my forbearance agreement another 3 to 4 months would be greatly appreciated. Not did they not extend it another 3 to for months, but they wanted me to sign a loan modification taking my payment from $3600 to $6000 a month. How is that helping me out? How's that helping my daughter out?

      I called the customer service department and both people I spoke with were very rude. They said not only are they not going to extend my forbearance agreement but they want all 6 payments in the forbearance agreement paid immediately or they're marking my credit report delinquent 6 payments. I said I don't have $22k to pay you. What if I make one payment and you place the remainder of it on the back of the loan like most people coming out of a forbearance agreement and I go back to making my normal payments. The rude rep said even if I sent them one payment they will not apply it to my account until I pay all 6 payment. I said, "What about my credit." She said, "We're still going to mark you late." I said, "You just screwed my family over."

      How am I going to refinance my house if my credit report is going to show 6 payments down? No response from her. Then I said, "If I'd known this is how you guys were going to handle this I'd would have refinanced my house last year when the rates were better than they are now." Because of this I had to file for Chapter 7 Bankruptcy on 1/4/2024 and now I'll be homeless with my daughter and all because they didn't want to help out a Marine Corps Veteran. I did 2 tours in Iraq and you think that all I've done for this country they'd at least extend out my forbearance agreement a few more months so I can save my house for my daughter. This shows you Carrington Mortgage doesn't care about military veterans as long as they can put them on the street and take their houses. This is wrong on so many levels. A nightmare!

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      Sources
      ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. To learn more about the content on our site, visit our FAQ page . Specific sources for this article include:
      1. Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Sept. 12, 2022.

      Carrington Mortgage Services Company Information

      Company Name:
      Carrington Mortgage Services
      Website:
      carringtonms.com