COPPELL, Texas, July 17, 2018 /PRNewswire/ -- Caliber Home Loans, Inc. ("Caliber"), the nation's #1 residential mortgage originator by volume*, recently introduced its newest Portfolio Loan product: Caliber Elite Access (Elite Access).
Created by Caliber in response to rising property prices, Elite Access, a Jumbo loan product offered by a top national lender with some of the industry's most robust features, is truly unique and 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 5% 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.
Elite Access benefits buyers in high-cost markets
Caliber made the decision to launch Elite Access to enable Jumbo loan borrowers to purchase or refinance immediately. The 95% 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.
Caliber is committed to increasing opportunities for home owners
Caliber CEO Sanjiv Das said, "At Caliber Home Loans, we're always working to increase opportunities for home ownership. 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."
To learn more about Caliber Home Loans and its expanding range of lending products, visit www.caliberhomeloans.com.
* Source: Scotsman Guide Top 2017 Mortgage Lenders, June 2018 issue.
About Caliber Home Loans, Inc.
Caliber Home Loans, Inc. is a privately-held financial services company with headquarters in Coppell, TX. The company is an approved Seller/Servicer for both Fannie Mae and Freddie Mac, an approved issuer for Ginnie Mae and is an approved servicer for FHA, VA and the USDA. The company carries multiple servicer ratings from Standard & Poor's, Moody's, Fitch and DBRS. To learn more about Caliber, visit www.caliberhomeloans.com.
SVP, Marketing and Corporate Communications
SOURCE Caliber Home Loans, Inc.