Caliber Home Loans

caliber home loans logo
3.0 rating

Foundation Year
2008


Office Address
1525 S Belt Line Rd., Coppell, TX 75019


Phone number
(855) 808-2124


Pros

  • Licensed service: NMLS#15622;
  • FHA direct endorsement approval/VA automatic lending approval;
  • Over 3,500 Employees Nationwide;
  • Operate in all 50 states;
  • Top Mortgage Lender in 2015.

Cons

  • Offered home loans only;
  • Affect credit score.

Overview

Credible Home Loans is a lender that operates in all 50 states. Each department is staffed with experts who are fond of sharing their knowledge and help to apply for a home loan. This company also provides loans for a military community as they may also apply for a loan from Credible Home Loans. This lender has achieved FHA direct endorsement approval/VA automatic lending approval in 2009. In 2014, It ranked Top 20 Overall Lender in the Nation, Overall Purchase Volume Lender in the Nation, and Overall Mortgage Servicer. In 2015, Caliber’s Servicing portfolio grew to over $81 Billion. In 2016, Credible Home Loan ranked #1 in Top Volume Gain as a Top Mortgage Lender in 2015 by Scotsman Guide and #3 Top Mortgage Company in America 2 years in a row! — Mortgage Executive magazine.

What loans does Credible Home Loans offer?

Credible Home Loans offers home loans. This company makes availanle two loan options: conventional and government. Conventional loan options are subdivided into:

  • Conventional Loan not insured by the FHA or VA;
  • HomeOneSM only requires a 3% down payment;
  • HomeStyle® Renovation Loan;
  • Home Possible® is a Freddie Mac loan program created to bring homeownership within reach to more borrowers;
  • HomeReady™ is a Fannie Mae loan program that is created to extend the privileges of homeownership to buyers with limited household incomes.

Government Home Loans include:

  • FHA Home Loan with its relaxed requirements;
  • FHA 203k Home Loan requires repairs or renovations an FHA 203k can help provide those additional funds before moving in;
  • FHA Streamline Refinance;
  • USDA Home Loan;
  • VA Home Loan;
  • VA Streamline Refinance.

What state does this company service?

This company operates in all 50 states.

What terms and rates does this company offer?

Conventional Loan not insured by the FHA or VA has the following terms and rates:

  • Interest rates are some of the lowest available.
  • There are lots of fixed-rate options with terms ranging from 10 to 30 years, but not limited to 15- and 30-year terms.
  • Several ARM programs are accessible: 3/1, 5/1, 7/1 and 10/1 ARMS along with a 5/5 ARM option.
  • Down payments as low as 3% depending on your loan amount.

HomeOneSM has the following benefits:

  • Low down payments beginning at just 3% of your total loan payment.
  • You may qualify with a minimum 620 credit score.
  • Several property types are allowed, including single-family home, condo, modular homes, one unit co-ops, manufactured home.
  • No income or location restrictions, so you’re free to shop for a home within the neighborhood you prefer.
  • Homebuyer education is required, and help you prepare for the mortgage’s responsibilities.

HomeStyle Renovation has provided the following terms:

  • You may qualify for renovation fund amounts from $5,000 up to 75% of your home’s post-renovation value.
  • Lower closing costs, since you’re closing a single transaction.
  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, second homes, and homes in Planned Unit Developments (PUDs).
  • Fixed- and adjustable-rate mortgage options.

Home Possible® has the following key features:

  • Down payments of as low as 3%.
  • Credit scores as low as 620 are enough for the approval.
  • Fixed-rate financing for easier budgeting.
  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).
  • Temporary buydowns can reduce your starting interest rate for 1-2 years.

HomeReady™ includes the following features:

  • Down payments as low as 3%.
  • Credit scores as low as 620 are enough for the approval.
  • Permits family or friends to co-sign the loan.
  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).

Government Home Loans has almost the same terms and rates. Surf the website to get to know more about possible terms and rates.

How do I qualify for a loan?

The only requirement we have found is a credit score over 600 points. Contact Caliber Home Loans to get to know on how to qualify for a home loan.

Can I take a loan if my credit score is low?

As low your credit score as lower your chances to apply for a home loan online through Caliber Home Loan.

Does this service have a mobile app?

Caliber Home Loans has a mobile app. It becomes possible to apply for a home loan using a mobile app.

Conclusion

This website seems to be reliable. You may apply for a loan through a mobile app or a website. Caliber Home Loans provides a detailed informaton about types of programs offered. Possible terms and rates are individually described. We appreciate this company operates in 50 states that make its service available for people nationwide.

Reviews

1.0 rating

I have personal very negative experience with FAKE Servicer Caliber Home Loan, Inc. The worst part is that most homeowners will not even realize that it is a securities brokerage firm that is collecting their mortgage payments via Black Knight, Inc.

Noelle Horton
5.0 rating

My experience with Caliber Home Loans was always absolutely perfect! I got the loan through Caliber, and recently easily undergone the loan refinance procedure to take advantage of the new lower rates.

Aaron N. Ross

Feedback Form