Carrington Offering USDA Loans

""Carrington Mortgage Services"":http://www.carringtonhomeloans.com/ has announced it has expanded its portfolio of government loan programs by offering U.S. Department of Agriculture (USDA) loans through its retail and wholesale lending operations.

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Carrington's USDA loan program requires low--and in some cases no--down payment or cash reserve, complementing the company's existing range of government products that are designed to increase the borrowing potential of real estate consumers.

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The USDA loan program adds to Carrington's government loan offerings, which already included Federal Housing Administration (FHA) and Veterans Affairs (VA)-insured loans, as well as FHA Streamlines and 203k products for borrowers seeking to refinance.

With a USDA loan through Carrington, eligible borrowers may obtain up to 100 percent financing on a home's appraised value. Purchase, rate/term refinance, and streamline refinance options are all available to borrowers with a debt-to-income ratio of 29/41 and a minimum FICO score of 580 (other restrictions may apply.

""Carrington is deeply committed to providing a wide range of products that meet the individual needs of borrowers--and that give the real estate professionals and brokers who serve them the confidence to close transactions,"" said Ray Brousseau, EVP of Carrington Mortgage Services' Mortgage Lending Division. ""By adding USDA loans to our government-based portfolio, we're providing consumers with an additional lending option that can make purchasing or refinancing a property more accessible.""