Caliber Home Loans Review 2023

Breakdown of Caliber Home Loans overall score 

• Affordability: You won’t find the latest mortgage rates from Caliber Home Loans on the lender’s website; you’ll need to request a quote in order to compare offers.

• Availability: Caliber Home Loans is a national lender with a big lineup of mortgage products for various needs, including construction loans and investment property financing.

• Borrower experience: The lender ranked above-average in J.D. Power’s report on mortgage origination customer satisfaction, and it offers many ways to get in touch with a loan officer should you have questions.

• Methodology

  Bankrate's expert editorial team collects lender information through a variety of methods. We contact lenders directly, and we also turn to regulatory filings and to assessments by third parties. Our research takes into account three main factors – affordability, availability and borrower experience.

  Bankrate's reporters and editors have decades of experience covering the mortgage industry. They're skilled at gathering information through interviews and by scouring regulatory filings. Bankrate evaluates more than 85 lenders for factors relating to affordability, availability and customer experience, assigning each a Bankrate Score out of five stars. Here's how we assess each of the categories:

  • Affordability. Loan cost is a deciding factor for many borrowers. We look at two metrics: 1) a lender's lowest advertised annual percentage rate (APR) based on Bankrate's sample scenario, which assumes a 740 or higher credit score and a 20 percent down payment, among other factors and 2) established-customer discounts or incentive pricing, when applicable.
  • Availability. Another factor is how quickly your loan application will be approved, and how many loan programs the lender offers. So we evaluate approval and closing timelines and diversity of loan products.
  • Customer experience. Finally, we delve into what it's like to deal with the lender as a consumer. We look at the lender's application process and availability of customer service support. We also consider the results of J.D. Power's 2022 Mortgage Origination Satisfaction Survey.

  Bankrate's editorial team confirms the accuracy of data at the time of publication. Our team is dedicated to maintaining the timeliness of information – the mortgage industry is changing constantly, so we regularly revisit these reviews to update them.

  Bankrate's methodology page spells out our rating process in greater detail.

Affordability: 3/5

Caliber Home Loans doesn’t advertise mortgage rates on its website, but you can get a quote after submitting some basic personal information through an online form. The lender’s fees include an origination fee and other closing costs, which can include title services, recording, appraisal and credit report fees.

Availability: 4/5

Caliber Home Loans offers the full suite of home loan products, including conventional, jumbo, FHA, VA and USDA mortgages. The lender also offers rate-and-term, cash-out and streamline refinancing, as well as home equity solutions. It works with borrowers across the U.S.

Borrower experience: 4.7/5

Caliber Home Loans is accredited with the Better Business Bureau and has A+ rating from the organization. J.D. Power rated the lender above-average for mortgage origination customer satisfaction in 2022.

When you’re ready to get a mortgage with Caliber, the lender accepts loan applications online and offers both prequalification and preapprovals. You can reach customer service by email, text, over the phone and at branch locations.

Caliber’s website features educational tools to help you better understand the mortgage process, and with its app, you can check your application status, upload documents, connect with representatives, manage your payments, view escrow, request changes to your private mortgage insurance (PMI) status and update your user profile.

Refinancing with Caliber Home Loans 

You can refinance a mortgage with Caliber, but the lender doesn’t advertise the rates or fees associated with a refinance online. 

Alternatives to Caliber Home Loans

• Rocket Mortgage review – For an online process with many educational tools available
• Wells Fargo Home Mortgage review – For a big brick-and-mortar option
• Lower mortgage review – For more online rate transparency