Caliber Home Loans of Coppell, Texas, offers mortgage and home equity products nationwide. Options include conventional, adjustable-rate, jumbo, refinancing, Federal Housing Administration, U.S. Department of Agriculture and Veterans Affairs loans.
Caliber has been in business since 2008, and is solely focused on home lending products.
- A first-time homebuyer program called HomeOne. It only requires a 3% down payment and borrowers may qualify with a minimum 580 credit score.
- Government-insured loans including Federal Housing Administration, Veterans Affairs, and United States Department of Agriculture programs are available.
- No home equity loans
- No other financial services
Which Products Does Caliber Home Loans Offer?
Caliber Home Loans offers conventional and government-backed mortgage programs, including:
- Conventional loans
- Adjustable-rate loans
- Mortgage refinance loans
- FHA loans
- VA loans
- USDA loans
Caliber Home Loans does not offer a home equity loan.
How Can I
You need a credit score of at least 580 to qualify for a Caliber mortgage, such as an FHA loan. Certain loan programs will have higher minimum score requirements, however.
In some cases, you may qualify for a loan of up to $3 million with a debt-to-income ratio of up to 50%. Down payment requirements also vary depending on the type of loan. For example, Caliber’s HomeReady program for homebuyers with limited incomes offers low down payments starting at 3%, whereas USDA loans require nothing down.
What
Caliber Home Loans doesn’t disclose closing costs or other fees for its mortgages.
Does Caliber Home Loans Provide Good
Caliber Home Loans has an A- Better Business Bureau rating.
The Consumer Financial Protection Bureau received 262 mortgage-related complaints in 2020 about Caliber Home Loans. The most common issues were related to:
- Having trouble during the payment process.
- Struggling to pay the mortgage.
- Applying for or refinancing a mortgage.
Caliber Home Loans provided the CFPB with a timely response on every issue.
Does Caliber Home Loans Offer
Caliber Home Loans allows prospective borrowers to apply online. It also has a mobile app to help you find a loan consultant, view your application status, upload documents, make payments, and connect with customer service.
- Borrowers who qualify for one of the lender’s loan programs.
- Borrowers who have at least a 580 credit score.
- Borrowers who want several loan options.
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