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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Christian ** at Caliber Home Loans understands "Customer Service". He made a complicated application and approval process seem simple, AND he's a great guy to boot!! I am not about writing a bogus review. We just closed our home loan and purchase today in Dallas. Do yourself a favor and call Christian first. It will save you a lot of money and headaches in a restrictive government regulatory environment leftover from the lax lending practices of the 2008 recession. You most likely will not find a better choice among residential lenders! We will use Christian ** again as well as refer him to our family and friends! On a scale on 1-10, yes he is a 10! Stuart & Marilynn
They have a long wait on phone for personal service and seem only to be recruiting new loans. They post checks 25 days after mailing and when you call to find out and stop payment - thinking the check was lost - they find it and cash it. Right hand doesn't know what left hand is doing. Nonbank lender.
DO NOT USE CALIBER HOME LOANS!!! I have had the worst experience with them! Their rates are high but the worst part is dealing with them in regards to an insurance claim. So, the second week I moved into my house, we had a major issue. Geico Home Insurance was great to work with and mailed a check immediately! However, because the amount was so high, they made the check out to myself and Caliber Home Loans. I have had the repairs completed for months. Caliber is being beyond ridiculous with their nitpicky process and paperwork. They are hoarding my insurance money!!
I have already paid for all of the work to be done (thankfully I had the money because if I had put it on a credit card, this would be a lot worse). Not to mention, it takes forever to speak to anyone on the phone. Terrible customer service. I can't tell you how many times those ignorant customer service reps have hung up on me. In addition, they are rude and not helpful. You get a different response every time you call. Just plain awful! Do not use Caliber Home Loans! It will be the worst experience of your life!!!
I was referred to Caliber Home Loans due to the low amount I was financing for an investment property. I completed my application accurately. When I received the Docusign document it was full of inaccuracies. I explained this to Nick ** of the Bethlehem office who told me that I needed to sign it or we would have to start all over again, although I explained that this could be construed as mortgage fraud. Then unbeknownst to my realtor, I received another document to sign that changed my 3% seller assist to a 2% seller assist with no communication whatsoever. My realtor had no idea where it came from.
When I contacted Nick **, he told me that they had never done a 3% seller assist and it could not be done. This was slipped in with no communication or conversation and was ultimately causing me to lose close to $1,000 on this deal. He merely told me that I would have to contact my realtor and do a new agreement of sale. I asked why he did not contact me to discuss. He had no answer. Furthermore, My HUD settlement statement $ to close was changed three times in differing amounts varying up to $3,500 without explanation.
Then finally, I paid for the appraisal and a mere one business day later, I was told that the loan could not close due to the owner/tenant ratio as an investment property. I immediately told him to cancel the appraisal and confirm. He did not, he did not communicate, completely ignored me and allowed the appraisal to continue without even attempting to cancel. Initially comes across as very customer friendly and then unresponsive and rude. I am employed by an organization that employs over 10,000 employees. I will be certain to tell anyone not to even consider this company.
Caliber bought one of my home loans. I had noticed they didn't cash my payment. I tried to call but it is nearly impossible to talk to anyone! I emailed but first you get a auto response saying it will be 5 days until they get back to you. In actuality they never get back to you! So I tried numerous times again to call after almost 30 minutes on the phone before speaking to anyone. I explained my situation and was told there is nothing they can do. My check was there but not completely ran through their system for over a week!!! I haven't ever ever had a late payment! Basically I was told, "So sorry. Nothing we can do!" I will never ever do business with Caliber again!!!
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Charlie from Caliber Home Loans went above and beyond to help me purchase a home. He is an expert with FHA loans. While other loan officers will give you pre-approval letters, at the first sign of an obstacle they will drop you. After I had given the earnest money for a home, a previous loan officer wrote me a email that made me think I had no chance of getting a home. Another loan officer after my contract was accepted by the seller, just stopped returning my phone calls without any explanation, prior to this he was calling me almost every day. The seller's real estate agent had to sent him an email to which he answered he was not able to give me a loan.
When you first decide to purchase a home, you go online and look at different mortgage companies to see how much home you can afford. From there, the loan officers get your number and a large number of different loan officers will start calling you, and promise you a mortgage loan if you pick their company. I found out the hard way that it is easy to get a pre-approval loan but they will drop you if they have to work hard on your case. I was not buying an expensive home, it's just not worth their time. I was trying to get a modest FHA loan. Just be careful because every time they check your credit, your credit score drops and they don't go through with the loan. I was naive, they hand out the pre-approval letters without standing behind their promise.
There was some mistakes on my credit reports that needed to be fixed and Charlie took the time to counsel me on how to fix my credit reports. He was always available to talk on the phone, in the evenings and on the weekends. He will make you feel as if you are his most important client. He doesn't just give up on his clients and he is not afraid of hard work. Thank you Charlie for getting me my home and treating me as if I was buying a million dollars home.
The home loan went through nice and fast 2 years ago. BUT,- every year by March they take my payments $800 more. WTF is this?!! After figuring out myself the first time they did was the problem with home insurance. Which I paid and they paid. So NEVER PAY on your own and let the mortgage company take care even if Geico keep calling you. They told me it’s $800 more for 12 months. That’s is $9,800 more than ever. My wife almost fainted... I try to explain to operator on the phone it. That’s was a dead end... She could not comprehend this...as they are momos bunch of dumb ** who can only read what’s on the screen. This is still ongoing situation and I’m not gonna pay the $800 extra. My taxes went up $34 more. That’s that and not $800 more a month.
Load process was delayed because of them being late getting me documents. Thought about switching mortgage companies then, but had already taken a hard hit on my credit. Finally get the mortgage signed, and receive the paper bill for my first payment. Went online, set up auto pay. Received a scheduled payment confirmation, then an actual payment confirmation than a "thank you for your payment" email. Then the payment was reversed four days later. Didn't get an email, phone call, message or warning of any type. Found out by investigating why the payment hadn't been taken out of my account.
First person I spoke to told me the account number was wrong. It wasn't. Next person I spoke to told me there was insufficient funds in the account, and the check was returned. Not true. And they're trying to charge me an additional processing fee. Already reaching out to other mortgage lending companies to refinance. I'll gladly take the hit over dealing with Caliber.
Was okay till now, they totally ** my escrow calculation. My mortgage payment is going up 30% because of a supposed shortage. I can’t wait to refinance with someone else. Go elsewhere, these guys suck.
As a new homeowner I had questions, when I tried calling, I either could not get someone real or I would get someone unempathetic on the phone. It was always so hard to communicate with them, not to mention their website is just as unhelpful.
We have always liked being with Caliber Home Loans but since Nov. 18th, 2018 I question if I would every recommend them ever again to anyone. We had an insurance claim for some damage to our home for almost $71,000.00. It took us 3 months to get some of the money to pay off the plumber and now we have been waiting for 5 months to get money from them for the contractor. The money was being held by them and we needed to take draws off of it. Every time we call which is often we are on the phone for about 30-45 minutes each time and the story changes every time. They tell us a check will be coming overnight and then the next day we need something else. I question if they even know what they are doing. I am tired of them saying, "I am sorry the other person told you wrong."
Don't use them...
This is pure PMI and escrow fraud. We paid for a BPO estimate that said our house dropped over 10% - ya right! This is just blatant fraud. Also they increased the escrow AND never paid for flood insurance - another case of fraud. Guess these mortgage companies aren't making enough off the interest so they've turned to escrow fraud. Just keep in mind CALIBER HOME LOANS is the new Wells Fargo, you'll hear about in the media in a few years.
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.
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.
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
- Company Name:
- Caliber Home Loans
- Company Type:
- 3701 Regent Boulevard
- Postal Code:
- United States
- (800) 401-6587