Caliber Home Loans, Inc. is a privately held, full service national mortgage lender headquartered in Irving, TX.
The company originates loans through various channels and transaction types, and since its inception, grown its mortgage production volume while growing its servicing portfolio to over $75 billion.
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Our loan officer was really fantastic to work with. My spouse and I were buying our first home together, and our LO was able to answer all of our questions, providing deeper insight when we needed more information. We discussed several loan products, and were able to make an informed decision about what product best suited our goals and financial position. The closing went extremely smoothly. As a bonus, we got a great rate locked in just before the election!
Thank you, Mark! We appreciate the time you spent to share your feedback! We’re happy to hear we were able to provide you with excellent service while purchasing your first home!
Wonderful service! I previously had a mortgage with Bank of America, and it was painful. The difference is night and day. Caliber Home Loans provided seamless service, closed on time, were able to coordinate everything, fixed the mistake that the escrow company made. I can't recommend them enough! They also secured an excellent interest rate for me the minute I put down an offer on the house.
Anna, We’re delighted to read your feedback about working with Caliber for your home loan! Thank you for taking time to share your positive experience. We aim to provide the best service for each customer!
We have been with Caliber for 2 years. They are less than helpful. I have never had challenges with home loans, you pay on time no problem. Well that is not the case. For the past two years, the escrow amount continues to climbs, you pay yet there is still a shortage. Call about removing PMI and they want to refinance the house, asked for customer service, they want to send an appraiser out and have you pay for it. I can't wait to be able to move on and I am so disappointed.
When we refinanced with Caliber in early 2016, our title company miscalculated our insurance and property taxes. We refinanced to a rate of 3.375 from 3.575 APR for a savings of roughly $350 per month on our payment. However, we received a letter from Caliber in early 2017 that our mortgage was going up $900 per month to cover the depleted escrow. Now that we are caught up (2018) our payment went back down but is just over $100 more than it was before we refinanced and over $450 more than our refi payment. So we paid 8.5k to refinance to a lower rate and pay $100 more per month.
After the higher payment took effect to pay back the escrow, I was inundated with multiple phone calls (at minimum 10) from Caliber asking if I wanted to refinance, which I repeatedly declined because we refinanced with them in early 2016. I explained the situation to a customer service agent who called from Caliber. She offered to help me figure out why we had the difference in payment, put me on hold, pulled a hard inquiry on my credit, and got back on the line offering me a refi! After I had lamented to her about all the refi calls and how we don't want to refinance. Now that's still on my report almost 2 years later. I don't feel like there's any course of action on this, just wish we never refinanced in the first place!
The process of receiving our loan through Caliber was originally seamless. We were excited to work with what we thought was a great company. Now I want to move just so I can use a different mortgage company. First there was the check we sent them, since their online pay through their phone app is like something out of the early 2000s. Money was never taken out and received a late fee saying they never received it. Then there was the autopay. After the check fiasco I went on their website and set up autopay. Mind you I have autopay set up on almost everything of mine with absolutely no problems. The first of the month went by and the money wasn’t taken out. A few days later I called them and was told they were having a problem with Chase bank and not to worry, they’ll be taking the money out shortly. Another week goes by and I get a letter in the mail saying I provided false information and was going to receive a late fine.
After A LOT of arguing on the phone, I finally paid my mortgage. Then a week after that I received a $20 ‘convenience fee.’ I have reached a breaking point with this company. I tell everyone I know who’s in the house buying process to NOT set up a loan with this company. They make it difficult for you to pay your mortgage so they can try to charge you late fees. DO NOT USE CALIBER LOANS! Like I said, we are looking to buy an entirely new house so we can go through Rocket Mortgage like our friends did. TERRIBLE company!
I'm giving Caliber a 3-star review ONLY because I haven't had to actually interact with their customer service. Although, after reading reviews from others, I sure hope I never have to contact their customer service. Caliber bought the loan from the company I originally purchased my house from. It was a seamless transition and I had no problems creating my online account.
Everything was great until they changed their payment policy where they now nickel and dime customers just to make their monthly payment. As a customer, you have 3 options. 1. Pay by debit card, then be charged an $8 processing fee. 2. Pay from your bank account, then be charged a $3.50 processing fee. 3. Set up a recurring payment with no processing fee.
The catch? You can set up your regular monthly mortgage payment along with the additional principal if you so choose. However, you cannot add additional funds to your escrow account. Instead, you have to select option 1 or 2 and still be charged the $8 or $3.50 processing fee when adding additional funds to your escrow balance.
I read a review where someone had an inquiry involving their escrow and they didn't get their issue resolved. I have been keeping track to make sure we maintain a positive escrow balance which is why I've continued to make the extra escrow payment on a monthly basis. Somehow the math done at Caliber was going to increase my monthly payment to cover the escrow expenses. I added additional funds to cover the negative balance and have monitored the ongoing balance since.
That being said, it has cost me $21 to make my monthly payments since they implemented their processing fee. It will cost another $42 in fees this year simply to make sure my mortgage is paid and my escrow account stays in the positive. It's not that I can't afford the fee that I'm angry about. It's the fact that as a customer, I am being charged to make good on my loan even though they're the ones who inconvenience their customers by imposing processing fees.
I'm half determined to mail in paper checks, but the concern with doing so is there will likely be more headache as that would require an employee to input the appropriate data to ensure funds are distributed appropriately between the mortgage, additional principal, and escrow account. Based on other reviews, I'm not confident in their capabilities.
I have been contacting them for months, promises of calls back, none received. I tried online submission thinking I may get a response that way, nope same auto message every time. "Thank you for contacting Caliber Home Loans, Inc. We received your inquiry on 1/22/2019, and wanted to confirm that we’re working on your request. If a reply is necessary, we will respond to your message within 5 business days of the day we received it. Please do not reply to this email address, as it is not set up to accept incoming mail. If you need immediate assistance, feel free to contact us at 1-800-401-6587 between the hours of 8:00 am and 7:00 pm (CST)."
They can call daily (multiple times a day) to refinance but will not answer simple questions about payments, escrow, or taxes. They also put into place a fee to make a payment by any means other than them taking it directly from your bank account. No notice received before that change. I guess I can say I am thankful they just sold my account to a servicing agent, which by the way they never told me about and are still sending me messages to pay a bill. End date with Caliber 1/31/19, payment due 2/1/19, no way Caliber. Still waiting for them to notify me, wishful thinking I guess.
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We had a major hail storm in June 2018. Homeowner's covered 20k. Mailed checks into CALIBER. Work has been done since November. All work has been approved by city and they still have not released checks to contractors!!!!
If I could give 0 stars, I would. Unfortunately my home loan came from Caliber. My house flooded during Hurricane Harvey without flood insurance and I turned in paperwork to be considered "forbearance". This was done so that I could use my monthly mortgage payment to rebuild my house. All was well until I received a note in the mail saying my house was not under "foreclosure". I have been fighting with them ever since. Their customer service is the absolute worst!! I cannot get anyone on the phone who has a clue what they are talking about. They will not answer my questions and they will not let me speak to a manager.
They filed against my credit after I sold my house and paid the entire thing off. This was all over 1 document (my income statement) that no one informed me they needed. The day I finally got someone to tell me what they needed, I sent the paper right over. To say I am pissed is an understatement. I am now going through legal battles to get my credit fixed. I seriously hate this company. DO NOT USE THEM!!!
I refinanced with Caliber and have been trying since I refinanced to set up a bi-weekly payment to no avail. I was told it was easy but they keep changing the goal post. First, I needed to do my first payment to be able to set this up. Then I needed to be more than 31 days before the next payment was due. I was 37 days ahead, and now it is two months in advance. Worst customer service I have encountered.
For a period of half a year, Caliber Home Loans has continued to be the very definition of a horrible corporation for my family and I. We took a home loan from them, and believing that they would be a good company, were utterly baffled when red flags just started flooding into our lives. Every time a bill arrived, they take money out of our bank account before we even "pay", charging us a late fee in the process. For example, when the Bill arrived on the 1st, the company charged us on the 28th of the month before. These late fees still happen even when we checked into our bank and saw that the transaction was completed days before the due date. This happened for months. We also paid thousands in principals that did not make it through.
We had not planned on purchasing a home for several more months, but when a property suddenly became available we decided to move forward and take a leap of faith. The mortgage on my previous house had been sold to Caliber and they had been fantastic, so we decided to apply for the new mortgage through them.
It was only six weeks between getting my preapproval letter and closing. Over the Christmas and New Years holidays, mind you. The entire process was a whirlwind of communication, with my loan officer or her assistant communicating with me daily. Needs and expectations were clearly communicated. The entire thing was a choreographed dance. The faster I submitted the requested documents, the quicker things moved.
Really the only slow down was during underwriting. From purchasing my previous house I suspect that was more a result of the VA rather than the underwriter themselves. My loan officer was still talking to me daily but the underwriting team was a black hole of data. Lots went in, nothing came out. Still, I can't complain. Out of pocket costs at closing were far lower than expected, funding came through on the same day as closing. The family and I are looking forward to the next two weeks of getting moved into our new home. Buying a house is complicated. Having your paperwork lined up before starting makes it a lot easier.
I have been trying for over 2 months to change my bank account to make my semi-monthly mortgage payment. I tried to use the online banking system. No success. I tried calling MULTIPLE times. NO success. I was finally able to change it today after monitoring the process for MONTHS. Now I only had the option to pay MONTHLY. Now I cannot utilize the semi-monthly payment process unless I pay a month in advance. Even though my payment was made today. So if you get a loan with Caliber don't ever try to change your bank account.
Ease of closing, perfect. Willing to work with you. Service AFTER the closing? Horrible. They will botch your escrow account. Don't trust them. Go somewhere else. They don't resolve any issues, promise callbacks but it never happens. You're on hold for HOURS on end, and get passed back and forth between their tax dept. and customer service.
Veteran Home Loans - Let me start by saying if there was a way to give a 0 stars I would. As a Veteran being furloughed I am very disappointed with Caliber. After multiple calls and false statements by each rep., I am being forced to miss payments with no help. PLEASE DO NOT USE CALIBER HOME LOANS. PLEASE TAKE MY ADVICE!!!!
Where do I begin? The nightmare we have experienced is unreal. We were given a short term restructure. We did not have to pay 2 months payments, and then resume. They have now reported 10 30 day lates, which is untrue. Trying to buy a new house now is a nightmare. They claim they never sent the letter saying we can skip 2 months. We have never been late on any other payments. They don't know what they are doing, and now claim stupidity basically. Stay away from them at all costs.
My mortgage was unfortunately purchased by this company. The worst experience of my life. When finances were getting tight due to reduced hours and some medical expenses, we requested a restructure. After several months, we were given an option to not pay 2 months mortgage, and then resume. In very small print, it indicated this may be reported to the credit bureau as 2 missing payments. We accepted and then paid as agreed. We ended up selling our home to downsize, and now are looking to buy a smaller one story. Turns out that they are now reporting 10 30 day late payments. Unbelievable. In my payment history, it shows no late fees. Long story short, it has caused us not to be able to purchase a home until Oct of this year. When I called them, they have no clue. Totally worthless company. Stay away from them at all costs.
Seems like I am piling on as my concerns have been noted. Caliber charges a $3.50 fee for making an electronic payment (Who does that? Most companies want an electronic payment). When you send a check other than the exact payment, they mess up the additional principal and take the full amount toward principal without crediting toward the payment. I was able to get the first one corrected. I called on the second one and couldn't get the rep to understand. I asked to speak with a manager and she refused. Obviously not good customer service. I would love to refinance with a different company, but rising rates have made that impossible. So, I will eat the monthly electronic payment fee, pay additional principal to pay my mortgage off as fast as I can, and warn others to not use Caliber. Unfortunately, my loan was sold to Caliber and I didn't have a choice... Others do.
So you read all the review and you need to make your choice about which bank to go with, I had 3 home in my life and I dealt with 6 bank, not by choice the banks sell your loan or do anything they want with your loan once you sign the documents just so you know they are all bad. Caliber home loan are the worst to my opinion because they manipulate the escrow account, they take money that they should not touch and do whatever they wants. In the bank world they call it a fraud but you can't do anything about it, they raise my payment by 33% after a year and half and nothing I could do about it but take my loan to another bank and pay anther closing fees, I have to do that.
Try to call customer service before you sign document all you hear from them is that they want to transfer you to another department. They are unprofessional and should be outlaw by the government because they are outlaws. I don't know who gave them high rating but I know there are company specialize in high rating because there is no way those high rating are real. Caliber home is a bad company not a bank. There are bad lender and caliber is one of them, I'm writing this review so other would not be in my situation. I wish someone would tell me that before I sign those document. I made a mistake and I will pay for my mistake. Don't do the same mistake I did. DO NOT DO ANY BUSINESS WITH CALIBER HOME.
We have used Vicky ** and her team for 4 years now and my family and I are extremely satisfied and happy each time. Vicky and her team are knowledgeable, experienced, fast, friendly and very professional. They were on top of every detail related to our loan and kept us updated on every step of the loan. That's why I highly recommend them for their mortgage services. That’s why my family and I will continue to work with Vicky and her team for future real estate investments.
I’ve been with them for years. But when I cancelled the payment information and removed all account details from my bank. I was still charged. That’s terrible. How and why would you keep someone’s information when clearly they removed it from your service.
4 freaking months, jumping through hoops and after closing documents signed and notarized. Underwriter adds MORE unreasonable stipulations. Caliber needs to train underwriters better and be upfront and honest with customers. Never will I recommend or use Caliber EVER! If I ever close I will immediately seek another lender!
Long story short, I called Caliber for over a month trying to get them to disperse money from my escrow to pay our taxes and I ended up having to pay the taxes out of pocket in order to avoid having liens filed against my house. If you’re trying to decide between two mortgage companies that have similar rates, don’t choose Caliber. A few months after we closed on our new house I received a tax bill. When I called Caliber I was told that they pay our taxes automatically and that I didn't need to send them our bill. I mailed them the bill anyway and assumed that it was taken care of.
At the end of October, I received a notice from the tax collector that our taxes were past due and that we would need to pay a 10% penalty. The notice also said that if the taxes were not paid by 12/31, liens would be filed against our house. I contacted Caliber on 11/5 to notify them of the issue and to ask them to resolve it. I called more than 10 times since to check on the status of my tax payment.
From 11/5 to 12/6, I was told that the tax department was trying to contact the local tax collector and that they were unable to reach her. I talked with the tax collector many times during that time period, so I'm not sure why they had so much trouble. After a month of calling I was told by Caliber that my taxes were paid at closing and that I needed to talk with the title company to resolve the issue. I contacted the title company and after reviewing the closing statement, we determined that not only were the taxes not paid at closing, but Caliber had failed to escrow the amount necessary to cover the taxes.
I called Caliber again and was told that they were still trying to contact the tax collector. I asked what information they needed and they told me that they needed to confirm the amount due. I told Caliber the amount due numerous times but this time I offered to upload the tax bill. I uploaded the tax bill on 12/14 and called back on 12/17 to confirm that Caliber received the bill. The person that answered confirmed that they had the bill but they still needed to contact the tax collector. I asked to speak with a manager because if they haven't been able to contact the tax collector for more than a month, they probably wouldn't be able to contact her in the next week. The manager, Steve, apologized for the mix up and said he would personally follow up to ensure that my taxes were paid.
I called back on 12/21 to confirm that the check had been sent out but the person I talked to said that they still needed to contact the tax collector and the next follow up was scheduled for the following week. I was so frustrated by this point that I hung up on the guy. After Christmas on the 12/27, I called again. This time I was told that Caliber needed to contact a third party tax collection company to handle the issue because the taxes were delinquent. I talked with the local tax collector numerous times and she never mentioned this third party company. I again asked to speak with a manager and this time I spoke with Raymond. Raymond told me that he would do everything he could to resolve the issue and that he would call me back to follow up.
Raymond did call to follow up and left a message saying that they still needed to contact the third party company to determine how much was owed. I called Caliber back on 12/28 and I was told that they were unable to contact the tax company and that they were scheduled to follow up on 12/31. I told them that wasn’t good enough and that liens would be filed if they didn’t send the check. I called the third party company and the message said that their office was closed until after New Year’s.
I called Caliber back and asked to speak with Raymond. Raymond is a manager in a call center and there was a limit to what he could do. I was not able to speak directly with a representative from the tax department. I ended up paying the taxes out of pocket. I had to pay the 10% penalty instead of the 2% discount I should have received if Caliber had done their job. If the money had been withheld properly at closing, which is Caliber’s responsibility, this wouldn’t have been so bad. But having to pay this much money at this time of year really hurts.
I’m going to continue to call Caliber to get the difference between the discount and penalty amounts but I’m not confident that they will make it right. This is the third house I’ve owned and I’ve never had this kind of problem before. This is the worst customer service I’ve ever experienced. I usually don’t post reviews, and this might be the only review I posted all year. If you’re trying to decide between two mortgage companies that have similar rates, don’t choose Caliber.
The underwriting process is a joke at Caliber. All they do is check boxes and have no clue how to read your income taxes. I have a credit score of 800 and I am put 30% on a home loan and they turned me down so I went to another company and they gave me the loan. Horrible company and underwriting.
I had my home severely damaged by the recent earthquake. I was hoping that the bank would allow me to freeze the mortgage by placing a few payments on the back. They instead said the assistance is to freeze a mortgage for three months, but then it is all immediately due once the three months are over. I am not sure how this helps people at all. We are paying thousands of dollars and I am not asking not to pay my mortgage. The assistance seems horrible and now I may just let the home foreclose.
I worked with a loan consultant named Scott. He was so lazy, useless, and rude. I sent him all my documents, but he insisted he never saw them. He gave me a quote when he didn't even look at my tax returns. I asked him questions on the phone, but extremely rude and impatient on the phone. I do not recommend them.
My husband and I used Caliber Home Loans to finance our first house together in 2016. My husband is a veteran so we opted for the VA loan. Everything was great until after we signed our loan and were informed a month later the VA kicked it out because the finance amount left $1.00 off the loan. Our loan officer called to tell us that we had to refinance our loan in order for the VA to accept it. Three months later we did just this after several failed attempts in signing because of name misspellings. A year later, we received a letter in the mail explaining our homeowner's insurance with Esurance had expired.
We quickly called Caliber to see why our insurance had not been paid. Our insurance and taxes were escrowed. Caliber instructed us to call the title company who in turn told us to call Caliber because it was their responsibility to renew the policy. We did just this along with calling our insurance company who told us the renewal documents were sent 10/31/17. Called caliber and they told us they were sending the check.
On 12/14/18 we received a notice saying our homeowners had not been active since 12/2017 and Caliber was going to place hazard insurance on our loan if we did not obtain insurance. I have called this company several times, left messages and talked to representatives. No one has done anything to fix their mess up. I have never dealt with a more incompetent company in my life. We would not recommend to anyone to finance through Caliber Home Loans and am in the process of talking with our lawyer to see what our next step needs to be.
We were purchasing an investment property that ended up being more expensive than originally anticipated. Caliber Home Loans of Alexandria, VA assisted us with the home loan application that took one week longer than the initially scheduled closing date. A few days after closing we received a truly offensive and nasty e-mail at 6am in the morning accusing us of submitting a negative review of their performance. We never submitted a review of any kind to anybody. After several e-mail exchanges that followed, the misunderstanding was cleared but by then the damage was already done. We have never encountered such hostility and brazen accusations for something that we haven’t done. The e-mail sent to us was insulting and personal. If you are looking for a good mortgage company seek elsewhere. It was fascinating to see people show their true colors after they have been paid.
I experienced amazing customer service from Tom **. When I came to Caliber Home Loans my credit was nowhere close to the ballpark needed and Tom helped me set up a plan to fix my credit score. Less than 6 months later I was able to be approved for a home loan. Everywhere else I went they would tell me no and never offered me steps to take to help me. Tom took his time and worked with me and I am forever grateful for that. Thank you Tom **.
Overall good company. Maintenance department can’t deal with extra payments towards principal at same time as monthly mortgage payment. Aka paying extra towards principal at same time. They screwed this twice and this month actually set it as 3 payments for December. Each a mortgage payment, escrow and interest... Yes 3 payments for 1 month. Another time they spread it out over three months. Vice, apply the current month's payment towards, 1 month interest, 1 month principal, 1 month escrow and all extra to principal. Now this is not something new to my account, I have done this for past year and twice they screwed it up. Now I get to call them to unscrew their screw up. Just send a separate check for principal only listed.
Received 2 letters of approval provided everything they asked for in a timely matter. Five weeks later flew to new City for closing and still not ready. No call from them, heard from Title co that closing would not happen on time. I did a cash closing instead as I was in town to sign and start remodel on property. I contacted another lender when I returned home and received loan and funding in 14 days with no problems. I would not recommend this co. I received a letter that my loan application was denied. I called them and said I was not using them anymore a day before closing. I have called them at least 5 times to talk to someone about this and cannot get thru to anyone. New Bank was very professional and timely, glad I found someone else.
I have been with Caliber Home Loans for a few years now and I have had a very positive experience with them. Last year we were affected by a hurricane and Caliber went above and beyond to assist and accommodate us and I will be forever grateful. I have never had any issues with them, and they have always been kind and caring.
Caliber Home Loans expert review by Michele Lerner
This mortgage company was founded with a merger from Caliber Funding and Vericrest Financial. They offer consumers assistance with home loans, home buying and refinancing.
National support: This company has branches across the United States, so you can get help with your home loan from a local loan consultant who understands the market in your state.
Range of loan products: They provide a range of loan products available for their customers, including FHA loans, veteran loans, conventional loans and more.
Resources for homebuyers: This company offers step-by-step guides to help you navigate the processes of prequalifying, financing, paying for insurance and understanding closing costs.
Send away for more information: Submit a short form on the website to receive free information on their mortgage programs to help you make a decision about buying or refinancing your home.
Quick and upfront mortgage approvals: Consumers get quick and upfront mortgage approvals, so you will know shortly after applying for a loan whether or not you qualify.
Fresh Start: The Fresh Start program is designed to help homeowners who have previously experienced a foreclosure, bankruptcy or any other credit setback to get a home loan ranging from $150,000 to $1 million.
Best for: homebuyers and home builders.
Caliber Home Loans Company Information
- Social media:
- Company Name:
- Caliber Home Loans
- Company Type:
- 3701 Regent Boulevard
- Postal Code:
- United States
- (800) 401-6587