Caliber Announces Caliber Elite Access Jumbo Offering

Jul 17, 2018

Caliber Home Loans Inc. has introduced its newest portfolio loan product, Caliber Elite Access. Created by Caliber in response to rising property prices, Elite Access, a jumbo loan product, is a strong addition to Caliber's portfolio lending suite of loan solutions.

Elite Access borrowers may qualify for up to $3 million in loan funds with as little as five percent down and a 700 FICO score. New homeowners may save even more after closing, as mortgage insurance is never required. Elite Access offers a variety of loan terms and options, including both fixed- and adjustable-rate terms. Additionally, both 5/1 and 7/1 adjustable-rate mortgages (ARMs) are available.

Caliber made the decision to launch Elite Access to enable jumbo loan borrowers to purchase or refinance immediately. The 95 percent loan-to-value (LTV) ratio provides true affordability to more potential homeowners and flexibility for investors in markets where home prices are rising rapidly but mainstream banks are not able to respond in a timely manner.

"At Caliber Home Loans, we're always working to increase opportunities for homeownership,” said Caliber Chief Executive Officer Sanjiv Das. “We're truly excited about Elite Access, as it empowers consumers and investors in markets with rapidly rising home prices to participate in property ownership. Caliber offers a unique jumbo product that competes with bank jumbos that tend to be offered to private wealth management clients."

About the author

NationalMortgageProfessional.com

Link copied

Published

Jul 17, 2018

Analysis and Data

Home Sales Rise — Along With Prices And Inventory

February saw a 4.2% increase in home sales nationally, NAR data show

Existing-home sales rebounded in February, offering a glimmer of momentum in a housing market still grappling with affordability pressures and high mortgage rates. Sales rose 4.2% from January to a seasonally adjusted annual rate of 4.26 million, according to the latest data...

Analysis and Data

Half Of Renters Give Up On Buying

Nearly half of renters polled say they don't see homeownership as possible — ever

Nearly half of all renters responding to a new survey said the roadblocks in their way of buying a house — high prices, high loan costs, and a tight inventory of homes for sale — are just too great to overcome. Indeed, 48% of the 4,400 renters polled by NeighborWorks Amer...