Caliber Home Loans Review for 2024

Caliber Home Loans has a broad appeal, with competitive interest rates and a wide range of mortgage loan options for home buyers and refinancers.

Lending flexibility4.7
Customer service4.7
Ease of application3.0
Online experience4.3
Our Score
Caliber Home Loans
Minimum down payment3%
Minimum credit score620
Loan Products Offered

Conventional mortgages
Jumbo mortgages
Streamline Refinancing
Renovation loans

Best Features

  • Wide variety of mortgage and refinance loans
  • Can close some loans in as little as 10 days
  • Mix of in-person and online application services


  • Have to apply to see rates
  • Higher credit score requirements than some other lenders


The Mortgage Reports may be compensated by some of the mortgage lenders we review. However, this does not affect our review process or the ratings lenders receive. All reviews are created independently by our editorial team. We review products and services from partner lenders as well as lenders we do not work with.

Texas-based Caliber Home Loans, Inc. was incorporated in 2013. However, it was formed by the merger of two companies and those go back as far as 1963.

Caliber has 145 "corporate family members," which seems to suggest it operates branch-based regional franchises. That means there's a good chance there are one or more branches in your state.

This is one of America's bigger lenders and it operates in all 50 states and Washington D.C. It offers a comprehensive range of types of mortgages, including some unique, proprietary ones.

Caliber also has a good reputation for helping first-time buyers, veterans, and others needing specialty loans.

Caliber mortgage rates

Caliber Home Loans mortgage rates are fairly low on average, but its closing costs and lender fees are middle-of-the-road compared to other major lenders.

Keep in mind that average rates and fees take into account all sorts of borrowers. Your specific mortgage interest rate will depend on your loan amount, type of loan, and your financial eligibility.

Home buyers with excellent credit could stand to get a great deal from Caliber. But the only way to know how good a rate you’ll qualify for is to request a quote.

Average mortgage rates at major lenders

Caliber Home LoansRocket MortgageWells FargoFreedom Mortgage
Avg 30-Yr Interest Rate, 202112.99%3.00%3.14%2.66%
Median Total Loan Costs, 20211$4,468$4,670$3,600$3,880
Median Origination Fee, 20211$1,224$2,430$1,330$0

Average rate and fee data sourced from public rate and fee records required by the Home Mortgage Disclosure Act (HMDA).

Find your lowest mortgage rate. Start here

Caliber Home Loans review for 2024

What are the benefits of using Caliber for a home purchase or refinance? Here are some key ones:

  1. Wide range of loan options. Whatever type of loan you need, you’re likely to find it here
  2. Personal service. Great for those who like to deal with people
  3. Good technology. Under-the-hood IT means many loans can be processed quickly, sometimes within 10 business days
  4. Options for first-time home buyers. Works with some down payment assistance programs and borrowers with moderate credit

But, as always, there are some drawbacks, too.

A big one is that you can’t compare Caliber mortgage rates at a glance. There are no advertised rates online, and you need to create an account and fill out an application before you have any idea of what your interest rate will be.

In addition, Caliber requires a minimum credit score of at least 620 — even for FHA loans. Many lenders will start at 580 for those. So if your credit is on the low end, this might not be the ideal lender for you.

Working with Caliber Home Loans

After creating an account, Caliber gives you the option to apply for a mortgage online. You can upload documents to the web portal and even track your mortgage application via a mobile app.

Anyone who likes dealing with real people may enjoy working with a Caliber loan consultant. That person should guide you through the entire loan process, from selecting the best loan for your needs through preapproval, the application process, and closing.

Caliber also has state-of-the-art underwriting technologies, which it claims enable it to take “eligible borrowers from application to closing in record time — as little as 10 business days*.”

However, that *asterisk is important. Because it leads to a warning that not all loans are appropriate for accelerated digital delivery. Caliber says, “Processing and closing times vary depending on the nature and complexity of the transaction.”

Borrowers with a troubled credit history or self-employed income, for example, often require manual underwriting that can lengthen the processing time. Still, many are appropriate for an expedited closing, and that’s an impressive level of service.

Caliber Home Loans customer service reviews

Caliber gets solid customer service reviews across the board.

The company receives fewer than one complaint per 1,000 customers, according to the Consumer Financial Protection Bureau (CFPB). And it was middle of the road in J.D. Power’s most recent Mortgage Origination Satisfaction Study.

Caliber Home Loans is also accredited by the Better Business Bureau (BBB) where it maintains an A+ rating. And average reviews across online forums give it a respectable 4.7 out of 5 stars.

CFPB Complaints, 20214Complaints Per 1,000 Mortgages, 20215J.D. Power Satisfaction Score, 20216
Caliber Home Loans840.21850/1,000
Rocket Mortgage3760.24876/1,000
Wells Fargo4880.58832/1,000
Freedom Mortgage2620.35829/1,000

Mortgage loan products at Caliber

Caliber Home Loans offers an exceptionally broad range of both conventional and government-backed mortgage products. There are plenty of loan options whether you want to buy a new home or refinance one you already own.

  • Conventional loan: A loan conforming to guidelines established by Fannie Mae and Freddie Mac. First-time home buyers can often qualify with a 620 FICO score and a low down payment of 3% of the purchase price. Keep in mind that conventional loans require private mortgage insurance (PMI) with down payments less than 20%
  • FHA loan: Backed by the Federal Housing Administration, this type of loan offers down payments as low as 3.5% and opportunities for borrowers with imperfect credit scores. However, you’re on the hook for mortgage insurance premiums (MIP) for the life of the loan
  • FHA 203(k) rehab loan: This government-backed loan covers both the purchase and renovation of a home, all in one
  • VA loan: Guaranteed by the U.S. Department of Veterans Affairs, eligible borrowers can qualify with as little as $0 down. But it’s only for eligible groups, including veterans and active-duty service members
  • USDA loan: This zero-down loan program is offered by the U.S. Department of Agriculture. The home has to be located in a USDA-designated rural or suburban area, and the borrower must have a low or median income for the area
  • HomeOne: This Freddie Mac loan program features a low down payment requirement of 3% and a minimum 620 FICO score. There are no income or geographic restrictions, and you’re not limited to a single-family home
  • Home Possible: Another low-down-payment mortgage from Freddie Mac intended for buyers with low to moderate income. Credit score requirement of 620 and minimum down payment of 3%
  • HomeReady: This Fannie Mae loan program also features a low 3% down payment. A minimum credit score of 620, income limits, and homebuyer education course apply
  • Homestyle Renovation Loan: This option from Fannie Mae can be used to finance the purchase and remodel of an existing home
  • Jumbo loan: Caliber’s SmartEdge program is a jumbo mortgage for those who need to borrow more than the conforming loan limit, which is $ in most areas of the U.S. Loan amounts of up to $3 million are available to qualified borrowers
  • Jumbo interest-only adjustable-rate mortgage: Again, loan amounts of up to $3 million are allowed. These interest-only loans have ultra-low monthly payments from the start, but you won’t be reducing the amount you owe every month
  • Investment loan: Real estate investors can use Caliber’s SmartVest loan to finance the purchase of an investment property
  • Fixed-rate mortgages: Loan terms of 10, 15, 20, or 30 years. Your interest rate is fixed for the life of the loan
  • Adjustable-rate mortgages: Adjustable-rate mortgages have an initial fixed-rate period of 3, 5, 7, or 10 years. After that, your rate floats with the market

Not many lenders offer such a variety of types of mortgages.

Refinancing with Caliber Home Loans

Homeowners who are looking to refinance their existing mortgage can choose between several refi loan options at Caliber.

  • Rate-and-term refinance: Exchange your original mortgage for a new one that has a lower interest rate or more favorable loan terms
  • Cash-out refinance: Access your home equity by replacing your current mortgage with a new, larger loan amount, and then receiving the difference as a lump sum of cash.
  • FHA Streamline Refinance: No cash-out but allows you to refinance with minimum fuss, perhaps without an appraisal. You must be current with your mortgage payments
  • VA Streamline Refinance (IRRRL): Like the FHA Streamline Refi but for VA loans

Caliber’s refinance rates are similar to its home purchase rates, but you’ll need to get a quote to see the specific rate that you qualify for.

Homeowners who want to tap their home values without refinancing will need to look elsewhere. Caliber does not offer either a home equity loan or home equity line of credit (HELOC).

Where can I get a home loan with Caliber?

You can apply for a Caliber Home Loans mortgage in all 50 states, including the District of Columbia. You can begin your loan application process online. But very soon you’ll be talking to a loan officer, or “loan consultant,” as Caliber calls them.

You can also call to begin that loan process or to schedule a face-to-face meeting with someone in a branch. According to NMLS, Caliber Home Loans currently has brick-and-mortar branches in most states, including:

  • AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, and WV

That said, homeowners in those states without branches are still welcome to use Caliber, as it’s licensed in all 50 states. They’ll just need to apply online or over the phone instead of in person.

That shouldn’t be too much trouble, as Caliber’s technology is reputedly as advanced as many end-to-end online lenders.

Is Caliber the best mortgage lender for you?

Caliber Home Loans is a strong mortgage lender in many regards. It offers every major type of home loan. And it’s flexible in helping borrowers qualify with modest credit scores and down payments starting at 3 percent.

However, many lenders offer similar benefits. So be sure to compare mortgage rates from more than one company before settling on the lender you’ll use.


The Mortgage Reports considers multiple factors when reviewing lenders. These factors include credit and down payment requirements, loan types offered, customer service indicators, and availability of online tools. We then use these factors to rank lenders in four categories:

  • Lending flexibility: Includes the number of loan types offered, special programs offered, minimum down payment requirements, and minimum credit score requirements
  • Customer service: Includes CFPB complaints per 1,000 loans and average rating from other top rating services
  • Ease of application: Includes the availability of an online pre-approval or pre-qualification process
  • Online experience: Includes the robustness of the lender’s online offerings, including online chat availability, phone number availability, and learning center/help center availability
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  1. Average mortgage rates and fees sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act. Rates and fees shown reflect the previous year’s data and may not align with today’s mortgage rates
  2. Monthly principal and interest payments calculated using mortgage calculator. Payments shown are based on a $200,000 loan amount and assume a “very good” credit score. Property taxes and homeowners insurance are not included. Your own monthly payment will vary
  3. Number of mortgage originations for the previous year sourced from self-reported data mortgage lenders are required to file under the Home Mortgage Disclosure Act
  4. CFPB Complaints reflect the number of mortgage origination or closing-related complaints filed with the Consumer Financial Protection Bureau for the previous year
  5. Complaints per 1000 mortgages reflect the number of official complaints filed against a lender with the CFPB for the previous year, compared to the lender’s total number of mortgage originations for the previous year
  6. JD Power Rating reflects the company’s customer satisfaction score according to JD Power’s most recent Primary Mortgage Origination Satisfaction Study. Survey respondents score their lenders in four areas: application/approval process, communication, loan closing, and loan offerings