Carrington Mortgage Service or also known as CMS is a finance company that offers various loan services. Established in 2007, CMS is a subsidiary company of Carrington Holding Company, an investment management company. This mortgage service is headquartered in California and already spreads to several states. Is it a really worth finance option for home loan? Get to know more about CMS through Carrington Mortgage reviews below.
As a company that provides loan services to the customers, Carrington Mortgage Service has a mission to deliver outstanding customer care to both investors and borrowers. CMS offers several programs that support borrowers to own a residence and feel comfortable to stay in it. This commitment is reflected by exceptional service offered by CMS by creating value for the borrowers and investors.
Carrington Mortgage services reviews will also let you know the responsibilities taken by this loan company. CMS conducts the business according to some principles including responsibility to customers, responsibility to each other, and responsibility to key stakeholders.
- Responsibility to customers
CMS prioritize their customers and provide solutions as well as advice if needed. Working with integrity is the commitment of Carrington Mortgage, allowing the customers to enjoy the best service.
- Responsibility to each other
This commitment relates to treating the colleagues with respect as a partner. The best people deserve best opportunity to develop their potential. It creates supportive working climate, allowing the employees to show their best.
- Responsibility to stakeholders
Carrington Mortgage Service considers stakeholders as valuable partner that should be treated as they deserve. CMS provide superior results for the investors, borrowers, colleagues and communities. This is the key to keep their good work for this long.
Carrington Mortgage Reviews: Process and Loan Types
CMS provides loans that vary in type. You can choose specific loan type that is considered as the most affordable according to your financial condition. Say that you are going to buy a home. You already found the right one and you choose CMS to help your finance. According to Carrington Mortgage reviews, there is purchase process every customer should take.
The purchase process through Carrington Mortgage Service requires your concern. Once you’ve made the decision, follow this home buying process from CMS:
- Know your finance
The very first step before beginning the purchase process is to understand your finance. It is essential to know your credit score and credit report because it relates to the loan type you can get. This allows you to understand any issue that may appear when applying a loan service. In other words, understanding your finance helps create a good start for the buying process.
- Choose a down payment
The more down payments you pay; the lower mortgage payment you get. This is the principle that you should take into account. CMS may suggest the amount of down payment to pay, allowing you to have more affordable monthly mortgage payment to afford.
- Prequalify prequalification
This process helps strengthen your position whenever negotiating with home seller. You will be considered as qualified buyer; therefore the seller will not make the process complicated.
- Choose real estate agent
Carrington Mortgage Service will help you get the appropriate and credible real estate agent. Finding a professional agent is important, allowing you to choose the right home and guide through the process.
- Make an offer
It is an important step after finding a home. You need to determine how much you will offer and how much loan you will need. If needed, the real estate agent will help you to make the offer and negotiate with home seller.
- Loan processing
After determining the amount of loan, CMS will start to process your loan application. You will receive guidance for inspections, appraisal and others to ensure a smooth closing.
When the financial process is completed, the next process is closing or settlement. You need to sign the paperwork, make appointment with seller and real estate agent. You will also need to sign all contracts. When everything is done, you will get the home key.
Now you already know the purchase process whenever you decide to buy a home. Carrington Mortgage Services helps you get the dream house in the simplest way. When it comes to the loan, CMS offers several loan types that can be chosen according to your finance. If needed, the CMS will be ready to help you determine the best loan that suits your condition.
Carrington Mortgage Service: Available Loan Types
Carrington Mortgage Service understands that every customer is under different circumstances when decide to purchase a home. These available loan types are designed to make the borrowers convenient to pay the mortgage payment.
- FHA loans
This loan type is considered easy and affordable choice for the borrowers. It offers flexible criteria to determine whether or not you are qualified for the loan. FHA loan also require fewer down payments compared to other conventional loans. There are two types of FHA loan to choose; FHA 203k and FHA 203h. FHA 203k combines home financing and repairs into one, while FHA 203h is for homes impacted by natural disasters.
- Jumbo loans
Jumbo loan is a type of loan that accommodates huge amount of loan which typically cannot be found in other loan types. CMS provides various mortgage options ranging from $417,000 to $2.5 million.
- Conventional loans
If you have stable income and wish to get stable mortgage payment, conventional loan is what you need to choose. The advantage of this loan is stable payment that will be suitable for those having stable income.
After all, Carrington Mortgage Service is a finance company that offers you various solutions for home loans. Aside from various loan types that you will get, CMS also provide help for any borrowers or investors who need it. In case you have no experience in purchasing home from real estate agent, CMS will be ready to facilitate you. According to Carrington Mortgage Services reviews, would you like to feel their best service?