The bottom line: Caliber offers a substantial array of both conventional and government-backed loans, and boasts many online conveniences. However, potential borrowers can’t shop its mortgage rates online.
Min. Credit Score
Min. Down Payment
Loan Types and Products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Pros & Cons
Offers extensive educational resources for military borrowers.
Provides digital tools for a streamlined application process.
Participates in some state down payment assistance and first-time home buyer programs.
No mortgage rates displayed online.
Doesn’t offer home equity loans or lines of credit.
Compare to Other Lenders
Lender at a glance:
Caliber Home Loans boasts an impressive array of purchase and refinance products, and is one of the highest-volume lenders in the country. You can't shop rates online, but once you've begun the application process, Caliber offers considerable digital conveniences.
Here's a breakdown of Caliber's overall score:
Variety of loan types: 3 of 5 stars
Variety of loan products: 5 of 5 stars
Online convenience: 5 of 5 stars
Rates and fees: 3 of 5 stars
Rate transparency: 1 of 5 stars
» COMPARE Caliber Home Loans with other lenders
Caliber Home Loans’ mortgage types and products
Caliber Home Loans is among the top 10 highest-volume mortgage lenders in America, according to the latest available Home Mortgage Disclosure Act data. It offers home loan services through its network of consultants, as well as independent mortgage brokers and loan officers.
Caliber offers a broad selection of home purchase and refinance loans, including fixed- and adjustable-rate mortgages.
On the conventional loan side, Caliber’s mortgage selection includes low-down-payment options like HomeReady and Home Possible loans, and the HomeStyle Renovation Mortgage.
On the government loan side, Caliber offers mortgages from the Department of Veterans Affairs, U.S. Department of Agriculture, and the Federal Housing Administration, including 203(k) renovation loans. Mortgages insured or guaranteed by these government agencies generally allow for lower credit scores, down payments and income.
In fact, Caliber appears to place special emphasis on serving military members through its VA home loans. On a separate website, CaliberMilitaryLending.com, it provides extensive details about VA loan options and eligibility requirements. The lender also claims to have created a “specialized, in-house educational curriculum” to help its loan consultants and branch managers meet the needs of military borrowers.
Caliber Home Loans’ online convenience
To get started with Caliber, just click or tap the blue "begin application" button. You'll create an account, then begin the fully online application via the online portal.
For borrowers on the go, Caliber offers a mobile app for Android and iPhone. The app also lets you access your account to upload documents, view the status of your loan application and easily contact your loan officer by phone, email or text message.
Not into the online thing? No problem. You can chat with a Caliber loan officer over the phone or in one of hundreds of branch locations across the country.
» MORE: Start your mortgage preapproval
Caliber Home Loans’ mortgage rates and fees
One of the most important considerations when choosing a mortgage lender is understanding what the loan will cost. In order to provide consumers with a general sense of what a lender might charge, NerdWallet scores lenders on two factors regarding fees and mortgage rates:
A lender's average origination fee compared to the median of all Home Mortgage Disclosure Act reporting lenders. Caliber Home Loans earns 3 out of 5 stars on this factor.
A lender's offered mortgage rates compared to the best available on comparable loans. Caliber Home Loans earns 3 out of 5 stars on this factor.
Borrowers should always consider the balance between lender fees and mortgage rates. While it's not always the case, paying upfront fees can lower your mortgage interest rate. Some lenders will charge higher upfront fees to lower their advertised interest rate and make it more attractive. Some lenders just charge higher upfront fees.
You can always decide to buy discount points, a fee paid with your closing costs, to reduce your mortgage rate.
Deciding whether or not you want to pay higher upfront fees is a matter of considering how long you plan to live in your home and how much cash you have to apply toward closing costs when you sign the loan paperwork.
» MORE: 'Should I buy points?' calculator
Caliber Home Loans’ rate transparency
Mortgage interest rates, either general or customized, are not available on the Caliber Home Loans website. To find out the rate for which you might qualify, you’ll have to contact the lender. This makes it difficult to compare Caliber Home Loans with other lenders when you’re mortgage shopping.
More from NerdWallet
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.