Caliber Home Loans Mortgage Review 2022

If you’re looking for a mortgage, getting quotes from non-bank lenders like Caliber Home Loans can help you find the best rates and terms. Caliber was a top 10 mortgage originator in 2020, with nearly $71 billion in loans.

It issues loans in all 50 states and offers a variety of products, including conventional, jumbo, FHA, VA and USDA mortgages. Additionally, Caliber’s “smart” mortgage products are an ideal choice for borrowers with unconventional credit or income requirements.

The benefits explained

  • Can complete an online mortgage application: Borrowers who want to start the mortgage process can easily complete their applications online without having to speak with a loan officer first.
  • Many loan programs are available: Caliber Home Loans offers a variety of mortgage products to meet borrower needs, including conventional, jumbo, FHA and USDA loans.
  • Alternative loans for non-traditional borrowers: For borrowers with less than stellar credit, difficulty proving income, or recent late payment, Caliber offers loans with flexible guidelines.

Disadvantages Explained

  • Website does not list current mortgage interest rates: Borrowers can apply online, but they won’t know what mortgage rates are available until they speak with a loan officer.
  • Loan offices are not available in all regions: Although Caliber Home Loans can originate mortgages in all 50 states and have offices in every state, these offices may not be suitable for all borrowers. For example, the nearest office in Memphis is over 180 miles away.
  • Does not offer home equity loans or lines of credit: Caliber does not offer HELOCs or home equity loans, which can be an inexpensive way to tap into your home equity without refinancing your primary mortgage.

Types of mortgages offered by Caliber Home Loans

  • Conventional loans. These traditional loans are intended for borrowers with good credit. They typically require a 20% down payment, but down payments can be as low as 3% with private mortgage insurance.
  • Jumbo Loans. Large conventional loans that do not meet the limits set by the Federal Housing Finance Agency (FHFA) are called jumbo loans. They require a 700+ credit score, a down payment of 20% or more, and cash reserves to cover at least one year of mortgage payments.
  • FHA Loans. The FHA offers a homeownership program for people with low credit scores with down payment requirements as low as 3.5%. Borrowers must have a credit score of 620 to qualify.
  • VA Loans. This is a mortgage loan program for active duty military, veterans and their families. It offers loans with little or no down payment and credit score requirements as low as 580.
  • USDA Loans. Through the USDA, homeowners in rural areas can get a mortgage with no down payment or cash reserves required. This loan program requires a credit score of 640 or higher.
  • Alternative loans. Caliber offers a series of “smart” loans with non-traditional features and flexible guidelines. These are ideal for borrowers who are unable to get approved for traditional mortgage products. These loans allow for credit scores as low as 660 and debt-to-income ratios of up to 50%.

Features and Benefits of Caliber Home Loans

  • Caliber offers several low and no down payment mortgages.
  • Renovation mortgage and streamlined refinance loans are available.
  • Self-employed borrowers can use bank statements to verify their income.
  • Investment property financing is available.

How to Apply for a Caliber Home Loans Mortgage

If you’re ready to apply for a mortgage through Caliber Home Loans, you can start the process online, by visiting a branch, or by calling (855) 808-2124.

To apply online, follow this process:

  1. Click “Apply Now” on the website.
  2. Create an account.
  3. Provide your name, phone number, email address and password.
  4. Verify your phone number by SMS or voice authentication.
  5. Enter your personal information, including your income and debts.
  6. Add the ownership details of the house you want to buy or refinance.
  7. Review loan programs, rates and fees.
  8. Select the mortgage product that meets your needs.

Customer service

To contact Caliber Home Loans about your application or your mortgage, you can call your local branch, contact customer service or submit a message online.

Automated customer service is available 24 hours a day at (800) 401-6587. You can reach a live customer service agent at the same number from 8:00 a.m. to 8:00 p.m. CT, Monday through Friday, and 8:00 a.m. to 12:00 p.m. CT on Saturday.

Client satisfaction

Caliber Home Loans has an outstanding 4.96 out of 5 star rating with over 6,600 reviews on Zillow. Most recent customer reviews mention how reliable and fast loan officers are, and how their loans were closed on time.

Caliber also fared relatively well in Investopedia’s own survey of 45 mortgage lenders, coming in 14th place with a score of 5.95 out of 10.

Account management

Customers can manage their apps and accounts through Caliber’s online portal or mobile app (Apple Where google play). During the application process, the mobile app lets you find a local loan consultant, view your application status, and upload loan documents.

Once your loan is closed, the functionality of the app includes monthly payments, viewing your escrow account, requesting PMI removal, and more. You can also call, text, or email your credit counselor directly from the app.

Alternative choices

Applying for a mortgage with Caliber Home Loans may be the right choice for many borrowers. However, before proceeding with your application, it makes sense to obtain quotes from some of the best mortgage lenders. The table below gives a brief overview of the types of loans offered and the special features that distinguish some of the best lenders.

Types of loans offered Special Features
Caliber Home Loans Conventional, Jumbo, VA, FHA, USDA Special loan programs for the self-employed, bad credit and investors
Citi Mortgage Conventional, Jumbo, VA, FHA Full-service banking products for customers
Primary Residential Mortgage Conventional, Jumbo, VA, FHA, USDA Offers loans for renovation, investment properties and construction
Finance of America Mortgage Conventional, Jumbo, VA, FHA, USDA Offers reverse mortgages for homeowners aged 62 and over

final verdict

Caliber Home Loans is a solid choice when you need a mortgage. It offers a variety of loan types to suit all needs, including products for the self-employed, investors, and people with low credit. You can submit an application online. However, you must speak to a loan officer before you can view the rates, fees, and points for their loan products. Although Caliber’s website isn’t transparent about rates and fees, reviews show overall satisfaction with meeting customers’ mortgage needs.


Investopedia is dedicated to providing consumers with comprehensive and unbiased reviews of mortgage lenders. We assessed 45 mortgage lenders and collected nearly 1,500 data points, including information on the following:

  • Quality of service (customer experience, online applications, benefits/grants, etc.)
  • Operational characteristics (state licensing coverage, number of loan officers, etc.)
  • Types of loans offered (fixed rate, FHA, USDA, etc.)
  • Accessibility (days before closing, minimum debt ratio, etc.)

We also conducted a survey of 1,195 mortgage borrowers to learn more about the most important features from a customer’s perspective and customer satisfaction with different lenders. Mortgage lenders have been objectively rated in the categories above to help readers make informed home loan decisions.

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