Carrington Mortgage Services review 2026

Core Insights - Carrington Mortgage Services offers a variety of mortgage loan options, including conventional, FHA, VA, USDA, and non-QM loans, but lacks home equity loans and HELOCs [2][6][10] - The company has low customer satisfaction ratings, ranking below average in the 2025 J.D. Power Mortgage Servicer Satisfaction Study, and has faced investigations and lawsuits regarding its customer treatment [3][24][28] Loan Offerings - Carrington provides several types of home loans, including conventional, FHA, VA, USDA, and non-QM loans, and services loans in all 50 states and Puerto Rico [6][9] - FHA loans account for over half of Carrington's mortgage origination business, making them the most popular product, followed by VA and conventional loans [9] - The company does not offer home equity loans or HELOCs, with cash-out refinancing being the primary option for accessing home equity [10] Customer Satisfaction and Reputation - Carrington ranks below average in customer satisfaction according to J.D. Power, and has been investigated by the Consumer Financial Protection Bureau for deceptive practices during the pandemic [3][24][28] - The company has been ordered to pay over $5 million in damages and was involved in a class action lawsuit in 2022 [3][24] Interest Rates and Loan Costs - Carrington's mortgage rates score is 4 out of 5 stars, indicating below-median rates of 6.25%, while its total loan costs score is 1 out of 5 stars, reflecting higher-than-median total loan costs of $10,153.70 [16] - The company does not publicly advertise interest rates, requiring potential borrowers to fill out an application for quotes [13][28] Comparison with Other Lenders - Carrington offers comparable loan options to other lenders like Fairway Independent Mortgage and AmeriHome Mortgage, but has unique offerings such as non-QM loans and USDA loans [22][23] - Both Carrington and its competitors lack transparency regarding interest rates, but Carrington's customer satisfaction ratings are notably lower [23][28] Application Process - To apply for a mortgage, customers must fill out an online application or contact a loan officer, as Carrington does not have a preapproval process but offers prequalification [17][18] - The company provides various mortgage calculators and educational resources on its website to assist potential borrowers [20]