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Caliber Home Loans Mortgage Review 2022

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Caliber Home Loans is a national lender founded in 2008 and based in Coppell, Texas. The company is licensed to lend in all 50 states and operates branches across the country. In August 2021, the company was acquired by New Residential Investment Corp., which owns competing national lender NewRez.

Who is this lender for?
  • First-time homebuyers
  • People wanting to renovate their home
  • Servicemembers and veterans seeking a VA loan
  • People building a new custom home
  • Borrowers needing a jumbo loan to finance a high-value home
  • People wanting house-hunting help

8/10  Lendingtree’s mortgage lender rating 

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating.

  = 1 pt   0 pts

  1.   Application online
  2.   Product info online
  3.   Rates listed online
  4.   Helpful articles about mortgages and homebuying
  5.   Standard product offerings (Conventional/FHA/VA/USDA)
  6.   Special programs
  7.   Info about how to qualify for products offered online
  8.   E-closing availability
  9.   Licensed in at least 35 states
  10.   After-hours and weekend access to loan officers

Caliber Home Loans pros and cons


  Quick closing times. Caliber Home Loans says its technology allows you to close on your loan in as little as 10 business days.

  In-depth knowledge of VA lending. The lender has dedicated specialists trained in helping service members and veterans apply for a VA loan.

  Smart series loans. Caliber Home Loans offers loan programs for self-employed borrowers, real estate investors and other borrowers who may not qualify for traditional financing.


  Rates not published online. Caliber Home Loans doesn’t post current mortgage rates offered on its website, making it more difficult for people in the early stages of loan shopping.

  Branches not available in all areas. While Caliber Home Loans is able to lend across the country, the lender may not have a branch in your area.

  No details on home equity products on website. Caliber Home Loans offers home equity loans but doesn’t provide detailed information about these offerings online.

Caliber Home Loans borrowing requirements

Minimum credit score620 for conventional and FHA loans; 580 for VA loans
Minimum credit score 3% for conventional; 3.5% for FHA; 0% for VA and USDA loans
Minimum down payment 3% for conventional; 3.5% for FHA; 0% for VA and USDA loans
Available loan terms 10 to 30 years for fixed-rate loans; 3/1, 5/1, 7/1, 10/1 and 5/5 for adjustable-rate loans
Available loan types Conventional, FHA, VA, USDA, jumbo, new construction, renovation, home equity

Caliber Home Loans mortgage rates and fees

Caliber Home Loans doesn’t publish information on its rates or fees online. However, the lender estimates that closing costs and fees can average between 2% and 7% of the loan amount. These fees and costs can include:

  • Underwriting fees
  • Origination fees
  • Attorney fees
  • Title search fees
  • Appraisal fees

Caliber recommends discussing fees with a loan consultant.

Caliber Home Loans mortgage products


Conventional loans. Borrowers can choose fixed-rate terms from 10 to 30 years, and multiple adjustable-rate options, including 3/1, 5/1, 7/1, 10/1 and 5/5.

Fannie Mae HomeReady® and Freddie Mac Home Possible® loans. Low- to moderate-income borrowers may be able to buy a home with a down payment as low as 3% and a 620 credit score under HomeReady or Home Possible guidelines.

Freddie Mac HomeOne loan. First-time buyers may qualify for the 3% down HomeOne® mortgage from Freddie Mac. Unlike the Home Possible loan, there are no income restrictions.

FHA loans. Caliber offers fixed- and adjustable-rate options for loans backed by the Federal Housing Administration (FHA). A minimum 620 credit score is required for fixed-rate loans.

VA loans. Eligible military borrowers qualify for a loan guaranteed by the U.S. Department of Veterans Affairs (VA). VA loans require no money down, and fixed- and adjustable-rate options are available. VA borrowers who are looking in high-cost areas may qualify for a loan up to $2.5 million through Caliber. A credit score of 580 is required.

USDA loans. If you’re buying a home in a designated rural area, you may qualify for a U.S. Department of Agriculture (USDA) loan. These loans have income limits, but you typically don’t need a down payment.


Conventional refinance. A variety of fixed-rate and ARM options are available, depending on the homeowner’s refinance goals. Borrowers can tap equity with a cash-out refinance or switch from an ARM to the stability of a fixed-rate mortgage.

VA interest rate reduction refinance loans (IRRRLs). No income documentation or appraisal is required. Borrowers with a current VA loan can lower their rate, shorten their loan term or even roll in the costs of energy-efficient home improvements.

FHA streamline refinance. If you’ve paid your current FHA loan on time, you can avoid the hassle of providing income documents or needing a home appraisal. Caliber requires a 620 score for its FHA streamline refi program.

USDA refinance. Rural homeowners with current USDA loans may be able to save money by refinancing to a new, lower-rate USDA loan.

Home equity

Home equity loan. Borrowers with sufficient equity can take out a fixed-rate second mortgage. 

Home equity line of credit (HELOC). Homeowners can tap into home equity as needed with a line of credit.

Special programs

HomeStyle® Renovation loans. Borrowers seeking to finance home improvement projects can finance the costs into a fixed-rate or adjustable-rate HomeStyle® Renovation loan. The program can be used for new or existing homes.

FHA 203(k) loans. If your credit scores are too low or you don’t have enough home equity to meet the qualifications for a HomeStyle Renovation loan, the FHA 203(k) rehabilitation loan may be a better option.

Smart series. Caliber Home Loans offers three non-qualifying loans for borrowers who might face difficulty securing traditional financing. The program includes offerings for self-employed borrowers, real estate investors and buyers with a recent adverse credit event.

How does Caliber Home Loans compare to other lenders?

Caliber Home LoansGuild MortgagePennyMac
Minimum credit score 
  • 620 for conventional and FHA loans
  • 580 for VA loans
  • 540 for FHA loans and USDA loans
  • 620 for conventional loans
  • 620
Minimum down payment 
  • 3% for conventional
  • 3.5% for FHA
  • 0% for VA and USDA
  • 0% for VA, USDA and FHA Zero Down loans
  • 3% for conventional loans
  • 3.5% for FHA loans
  • 3% for conventional
  • 3.5% for FHA
  • 0% for VA and USDA
Loan products and types 
  • Conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • New construction
  • Home equity
  • Conventional
  • FHA
  • VA
  • USDA
  • Renovation
  • Manufactured home
  • Conventional
  • FHA
  • VA
  • USDA
Special programs offered 
  • Renovation loans
  • Smart series
  • FHA Zero Down loans
  • Bridge loans
  • Reverse mortgages
  • Investment property loans
  • Rate match
  • Close-on-time guarantee
Lender ReviewGuild MortgagePennyMac


Today's Mortgage Rates

  • 4.87%
  • 4.19%
  • 3.31%
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