Caliber Home Loans Mortgage Review

Caliber Home Loans offers conventional and government-backed mortgages, including:

Caliber Home Loans also offers home equity loans and home equity lines of credit.

Before you apply for a Caliber loan, you can arrange a meeting or phone call with a Caliber loan consultant to prequalify based on your credit score, debt and income. You can apply for a mortgage with Caliber Home Loans online or in person with a loan consultant. Depending on your situation, it could take just 10 business days to get from application to closing.

You can get a fixed-rate loan from Caliber Home Loans with a term between 10 and 30 years, and 3/1, 5/1, 7/1, 10/1 and 5/5 adjustable-rate mortgages are available. With a government-backed VA or USDA loan, you may not have to make a down payment, while FHA loans offer down payments as low as 3.5%. If you make a down payment below 20% on a conventional loan, you will likely need to buy private mortgage insurance. Closing costs on a loan from Caliber may include a loan origination fee.

First-time buyers may be able to reduce closing costs with Caliber Home Loans.

You can see what loan amount you might receive from Caliber Home Loans by meeting with a Caliber loan consultant to prequalify. Caliber will consider factors such as your credit score and debt-to-income ratio, with Caliber’s website advising that an affordable loan keeps your DTI at or below 43%. Credit score and down payment requirements vary based on your loan type.

You need a credit score of at least 580 to qualify for an FHA or VA mortgage with Caliber, and a 620 score for a USDA loan. A 620 score can also get you a conventional loan, but you will need at least a 675 for the most competitive rates. For a jumbo loan, you will need a score of at least 700. Caliber also considers your DTI when you apply for a loan.

You can get a mortgage from Caliber Home Loans in all 50 states and the District of Columbia.

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

Caliber Home Loans has an A+ Better Business Bureau rating.

The Consumer Financial Protection Bureau received 228 mortgage-related complaints in 2021 about Caliber Home Loans. The most common issues were having trouble during the payment process, applying for or refinancing a mortgage, and struggling to pay the mortgage. Caliber Home Loans provided a timely response to all but three complaints and closed 207 complaints with explanation, 17 with monetary relief and four with nonmonetary relief.

Caliber Home Loans has an overall 4.5-star rating out of 5 from U.S. News, with 4.5 stars for affordability, 4.4 stars for customer service and 4 stars for eligibility. The average for mortgage lenders in U.S. News’ ratings is 4.3.

Customers can contact Caliber Home Loans at 800-401-6587, with an automated system active 24/7 and customer service available Monday through Friday from 8 a.m. to 8 p.m. Central Time and Saturday from 8 a.m. to noon Central Time. You can speak with a local loan consultant to prequalify and apply for a loan. Customers who have complaints can speak with local managers and escalate concerns through an online form.

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 view digital statements.