Caliber Home Loans Inc. is one of the nation’s largest wholesale lenders, which is no surprise considering just how many mortgage products they offer. Whether you’re looking for a conventional home loan or a government loan, Caliber delivers a vast range of loan options to borrowers.

Want to make sure you’re getting the best rate?
Plus, they cater to people of all credit types, even those with below-average credit scores.
Let’s dive into who can apply for a Caliber Home Loans mortgage, what kind of loans you can access, and more. When you’re finished reading, you’ll know exactly what to expect from this nationwide mortgage lender.
Caliber Home Loans Application Requirements
Because Caliber offers such a huge variety of mortgage products, there are some fairly broad requirements for applying. First, you don’t need a history of mortgage or rent payments. That’s a huge plus if you’re a first-time homebuyer.
When it comes to credit, the minimum credit score is 580. You may not qualify for every single kind of home loan if your credit score is on the lower end. But it does mean that Caliber is willing to work with bad credit borrowers to find a mortgage that works.
Caliber Home Loans has a maximum debt to income ratio of up to 50%. Most lenders cap that number at 43%, so borrowers have a little more leeway with Caliber regarding how much debt they carry compared to their income.
Finally, Caliber offers home loans in all 50 states. Unlike many online lenders, it doesn’t matter where you live to apply for a mortgage. If you have any questions about Caliber’s requirements, call customer service and speak to a loan officer.
Types of Home Loans Available from Caliber Home Loans
Caliber offers home loans for both purchasing and refinancing. There are countless products to choose from. Let’s take a look at what’s available for home buyers.
Conventional Loan Products
Conventional loans: These are typically reserved for borrowers with higher credit scores and a solid employment background. You can choose between a fixed rate and an adjustable rate to suit your financing needs.
HomeStyle Renovation: This product can be used on existing properties as well as new construction. You can finance funding for renovations and repairs up to 50% of the post-renovation value.
Home Possible: A program from Freddie Mac, Home Possible, allows for lower credit scores and a down payment of as little as 3% of the purchase price. You can also use a temporary buydown to reduce your interest rate for up to two years.
HomeReady: From Fannie Mae, this program is designed for borrowers with limited income. You’re also allowed to receive financial help from your family or employer, plus take advantage of a 3% minimum down payment.
Jumbo Loans: If you need a mortgage for a luxury property or a high-cost area, then a jumbo loan from Caliber Home Loans could work. You could borrow as much as $2.5 million, and down payments start as low as 5%. Plus, you can pick a fixed rate, adjustable rate, or interest-only payments.
Fresh Start Program: These loans are designed to assist borrowers who have had a troubled lending history. If you don’t qualify for traditional mortgage financing, a Fresh Start loan may be perfect for you.
Government Loans
FHA Loans: Backed by the Federal Housing Administration, this mortgage program requires just a 580 credit score and a 3.5% down payment. While you will have to pay private mortgage insurance with this loan type, you can get a temporary buydown on your interest rate for the first year or two.
FHA 203(k) Fixed Rate Rehab: You can buy a fixer-upper to help repair or renovate your new property before you even move in. There are two options to choose from. The first is the Standard loan, designed for remodeling and repairs. The Limited loan allows for minor remodeling and only non-structural repairs.
USDA Loans: This mortgage loan backed by the U.S. Department of Agriculture lets you buy a home in a rural area with no down payment at all. There are also less strict requirements on credit score and income. In fact, there are limits on how much you can earn to qualify for a USDA loan.
VA Loans: Designed for veterans and active military service members, a VA loan is another option to get a mortgage with no down payment. There are options for fixed rates, adjustable rates, and even high-balance home loans.
Fees and Rates
Caliber Home Loans doesn’t advertise its rates and fees, likely because they will vary so greatly depending on the type of loan you’re looking for. It’s easy, however, to talk to one of their loan consultants to figure out what kind of mortgage could work best for you.
Also, once you start the Caliber Home Loans mortgage application, you should receive a loan estimate outlining all the standard fees, interest rates, and closing costs associated with your specific scenario.
Caliber Home Loans Mortgage Process
Caliber’s mortgage process starts with either applying online or contacting a Caliber loan consultant. You can search online for a physical branch near you, or you can contact Caliber Home Loans through their centralized loan consultant program. This service is available in all states except New York and Utah.
When applying online, you’ll first be greeted with a list of electronic resources you can read if you’d like, including some state-specific disclosures. Once you acknowledge that you’ve seen these documents, you can continue to the application page.
Start by filling out your basic information. Then, you’ll automatically be assigned a loan officer to help you through the loan process.
Caliber Home Loans has recently enhanced its online application capabilities so that you can upload all of your documents electronically. You can also track your loan’s progress and request a call back if you want to talk to someone in person.
They also use electronic verification of income, assets, and employment. This can save a substantial amount of time and effort so that you don’t have to scan or fax tons of hard copies to your loan officer.
Once your loan closes, it will most likely be serviced by Caliber Home Loans. In fact, the direct lender services around 94% of their closed loans, which is relatively uncommon in the industry. For you, that means you’ll know exactly where to start making your monthly mortgage payments when you get your mortgage.
Caliber Home Loans Special Features
Caliber’s biggest advantage is the wide variety of mortgage products and loan programs you can choose from. This helps borrowers of all types. If you’re a first-time buyer and you don’t really know what kind of mortgage you want or even could qualify for, then you have the flexibility to compare different loan types with Caliber Home Loans.
On the other hand, a more experienced home buyer can access more sophisticated loan products that can help get them in the kind of house they want and can afford.
Plus, with both a robust online platform in addition to an assigned loan consultant to your application, you can get the best of both worlds with Caliber Home Loans.
Caliber Home Loans Reviews
One of the best ways to research mortgage lenders is by reading third-party reviews. You can discover what actual customers are saying about them before you choose to do business with them.
Caliber Home Loans currently has a Better Business Bureau (BBB) rating of A+, an indicator of excellent customer service. They also have very few complaints. You can find more Caliber Home Loans reviews at other review sites as well.
Bottom Line
Caliber Home Loans comes with a lot of strengths in terms of loan offerings and its online experience. As with any lender, be sure to compare rates, terms, and fees to make sure you’re getting the best deal. Caliber’s customer service reviews indicate that the lender is difficult to deal with, so keep that in mind.
Buying a house is a significant investment, both financially and emotionally. Take your time to shop around and find what’s right for you. If you can, start early in your house hunt so that you’re ready to pounce when your dream home hits the market.