Caliber Home Loans Review: Rates, Fees, & Terms

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Caliber Home Loans is a private mortgage lender that operates out of Coppell, Texas. The lender boasts an impressive array of purchase, refinance, and specialty home loans.

Though you can’t rate shop online, you can stop in at one of its branches in 46 states or call for a rate quote.

And once you’ve kickstarted your application, Caliber’s digital mortgage process is second to none.

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Caliber Home Loans Review
Caliber Home Loans
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Caliber Home Loans Pros and Cons


  • Can close in just 10 days
  • Originates mortgages in all 50 states and Washington, D.C.
  • Services the bulk of its own loans after closing
  • Extensive resources and dedicated specialists for military borrowers
  • Participates in down payment assistance, first-time homebuyer, and loan modification programs


  • No mortgage rates published online
  • No second mortgage products
  • Limited weekend customer service hours
  • No online prequalification

Caliber Home Loans Overview

Caliber Home Loans is a mortgage originator that focuses solely on its home loan products. The lender has a reputation for assisting veterans, first-time homebuyers, and specialty loan shoppers nationwide, making it one of the best mortgage lenders around.

And with its top-notch technological prowess, Caliber claims that it can “take eligible borrowers from application to closing in record time – as little as 10 business days.”

Moreover, Caliber combines its in-person, phone-based, and digital customer service to help borrowers from all financial backgrounds find a loan that works for them.

It even trains specialists in-house to walk eligible military borrowers through the process of getting a VA loan.

Unfortunately, Caliber does have a few drawbacks, beginning with its lack of sample mortgage interest rates. And if you want to get a quote, you’ll have to contact Caliber and consent to a hard credit check first.

What Types of Mortgages Does Caliber Home Loans Offer?

Caliber originates a large menu of mortgage products, including fixed- and adjustable-rate conventional, jumbo, mortgage refinance, and government home loans.

Caliber details many of its products online, including its:

  • Conventional loans
  • HomeOne loans that require just 3% down
  • HomeStyle Renovation Loans for repairs, remodels, and renovations
  • HomePossible loans that offer flexible credit score and down payment requirements
  • HomeReady loans to service borrowers with limited incomes
  • FHA purchase, renovation, and refinance loans
  • VA purchase and refinance loans
  • USDA loans

Caliber also operates several specialty programs for some investors that we’ll look at below.

How Does Caliber Home Loans Work?

Interested borrowers can begin the mortgage application process online by creating an account and filling out a form.

Caliber also provides a downloadable mobile app for Android and iOS devices. Both portals let you upload documents, view your application’s status, and contact your loan officer online.

But if you prefer a personal touch, you can drop in at one of Caliber’s physical branches or call by phone.

Either way, Caliber will eventually put you in contact with a loan consultant to review your application and options.

After you’re preapproved, Caliber uses its state-of-the-art digital underwriting technology to get you through to closing.

For some borrowers, the lender boasts that the process takes “as little as 10 business days.” But for others, Caliber notes that “Processing and closing times vary depending on the nature and complexity of the transaction.”

That said, it’s not always a bad thing to take longer. For example, borrowers with a trouble credit history or self-employment income may require manual underwriting to get approved, though it extends the processing period.

Caliber Home Loans Mortgage Rates and Fees

Caliber doesn’t detail its interest rates or lending fees online. According to records sourced under the Home Mortgage Disclosure Act, the lender’s average 30-year fixed interest rate in 2020 was 3.25%.

Caliber also had a median loan cost just under $4,200. Typically, borrowers can expect Caliber to charge origination, title, recording, appraisal, and credit report fees on its loans.

Caliber Home Loans Terms

Caliber offers mortgages with terms ranging from 10 to 30 years on fixed-rate mortgages.

Borrowed can also get adjustable-rate mortgages with 3/1, 5/1, 7/1, 10/1, and 5/5 terms.

How to Qualify for a Caliber Home Loan

Caliber doesn’t post its qualification guidelines online. But the lender does note it follows the conforming loan requirements set by Fannie Mae and Freddie Mac.

It also adheres to loan requirements set by the FHA, USDA, and VA for their respective government-backed home loans.

For most borrowers, this means having a credit score of 580 for FHA loans and a 620-640 credit score for conventional, VA, and USDA loans. Jumbo borrowers will need anywhere from a 650-700 credit score, depending on the specific loan program.

Caliber also states that it considers your debt-to-income (DTI) ratio when considering your eligibility, with under 43% preferred.

Most borrowers will also need at least two months’ cash reserves to pay closing costs and proof of income or employment.

And borrowers who want a lower interest rate or have atypical financial situations can use alternative credit data to qualify.

Caliber Home Loans Features and Benefits

Quick Online Application

Caliber lets you get started with an online or mobile application. Both let you fill out your information, upload documents, and track your status.

Plus, you can browse the information-packed website to gain insight into the mortgage and homebuying process if you get stuck. And loan officers are standing by 12 hours a day, five days a week to assist you.

Personalized Guidance

Caliber’s website offers a “Find Your Loan Consultant” feature to connect you with a loan officer in your area.

They will walk you through your options, nab your perfect mortgage, and get you through to closing as quickly as possible.

Unique Loan Options

In addition to its standard fare, Caliber Home Loans has a variety of unique loan options on the menu.

For instance, eligible borrowers can get jumbo loans up to $3 million or conventional loans as low as $100,000.

Caliber also offers a portfolio of “Smart” loans for jumbo, investment, and self-employed mortgage seekers.

Military Friendly

Caliber also places a special focus on originating loans for eligible military borrowers via its sister website,

Here, veterans can review details about their VA home loan options and eligibility requirements. Options include 0% down, high-balance loans up to $2.5 million, and refinance benefits.

Plus, Caliber also has a team of dedicated specialists with in-house VA training standing ready to assist borrowers from the military community.

How Does Caliber Home Loans Compare to Other Lenders?

#1. Caliber Home Loans vs. Rocket Mortgage

Rocket Mortgage is a popular online lender that sets the standard for the online mortgage experience. Borrowers can enjoy ten-minute preapprovals, automatic document and asset retrieval, and 90-day rate locks.

But you may have to contend with a longer-than-average closing period for the price. And if you want to take out a second mortgage or speak to a loan officer in person, you’re out of luck.

>> More: Rocket Mortgage Review

#2. Better Mortgage vs. Caliber Home Loans

Better Mortgage is an online-only lender that claims to save borrowers up to $3,000 and close in as few as 14 days.

Though its loan menu is somewhat basic, it does consider alternative credit data and offer bridge loan programs.

Plus, you can get preapproved in just 20 minutes and receive an “underwriter approved” letter within 24 hours.

Unfortunately, doesn’t originate loans in every state, and its palette of government-backed loans is sparse. Plus, if you want to lock your rate, you’ll have to pay an extra fee.

>> More: Better Mortgage Review

#3. NASB Mortgage vs. Caliber Home Loans

North American Savings Bank is an FDIC-insured bank and mortgage lender headquartered in Missouri.

The organization offers a robust loan menu, online conveniences, and flexible borrowing requirements.

That said, NASB focuses on originating VA loans and specialty mortgages such as bank statement loans, FLEX loans, and bridge loans.

>> More: NASB Mortgage Review

#4. Caliber Home Loans vs. Movement Mortgage

Movement Mortgage is a hybrid lender that serves all 50 states via its 650 branch locations and online portal.

You can shop a wide range of mortgages, including conventional, government-backed, and low credit score options. They also offer reverse and construction loans plus rate-and-term refinancing.

To get started with Movement, you’ll need to fill out a form and wait for the lender to contact you.

After that, you can enjoy their comprehensive online and mobile app experience. And best of all, over 75% of Movement’s borrowers see their loans processed and closed within a week.

>> More: Movement Mortgage Review

What Credit Score Do You Need for Caliber Home Loans?

Caliber requires a 580-credit score to qualify for an FHA loan or 620 for VA, USDA, and conventional loans. Borrowers in search of a jumbo loan will need a credit score of at least 700.

Is Caliber Home Loans a Direct Lender?

Caliber Home Loans is a direct lender, seller, and servicer.

Is Caliber Home Loans a Good Place to Get a Mortgage?

Caliber Home Loans may be ideal if you’re a first-time homebuyer, veteran, or need a specialty mortgage. And because Caliber offers its extensive menu in every state, you can get a loan no matter where you are.

How Do Caliber Home Loan Mortgage Rates Compare to the National Average?

Caliber’s mortgage rates seem to fall in line with the national average, though its rates are higher than some competitors. However, you won’t find rate information online.

Bottom Line: Caliber Home Loans Review

Caliber offers eligible borrowers a wide array of loans to choose from, including conventional, government-backed, and specialty mortgages.

The online mortgage lender also boasts a top-notch customer service team, specialized resources for military borrowers, and jumbo loans up to $3 million. But if you’re just rate shopping, you’ll have to consent to a hard credit pull to get a quote.

Jordan Blansit
Jordan Blansit

Jordan Blansit is a Senior Writer, Researcher, & Product Analyst for SimpleMoneyLyfe with an inexplicable predilection for mortgages, investing, and personal finance. When she’s not click-clacketing from the comfort of her living room, you can find her in the California Redwoods or Oregon Siskiyous. Jordan’s areas of expertise are mortgages, personal loans, credit cards, and investing.