Mortgage rates have been hovering near all-time lows since April, and many homeowners want to take advantage of these incredible rates by refinancing their mortgages. The reality is, these rates could start back up at any time, so rapid turnaround is the best guarantee of cashing in.
This is where Caliber Home Loans, Inc. gives you a competitive advantage. The clients’ need is speed and low rates. With our product options, you can deliver both: quicker and easier closing processes and competitive rates.
Caliber makes this especially possible through two unique refinance tools: Caliber Sprint, and Texas Section 50(a)(6). We also offer more traditional refinancing solutions for customers who may not be eligible for these options.
We call it Sprint because the turnaround is so fast. By offering high-quality service and loan solutions in a fraction of the normal time, you stand out from the pack. You are empowered with solutions that perfectly align with the client’s needs.
Our streamlined process allows you to process loans more quickly than for a standard loan. This expedited process is offered to specific buyers with an excellent credit score (720 FICO or higher) and who are salaried or full-time hourly employees. The property must be a single family home or PUR (attached or detached), and must be owner occupied.
If the client meets these criteria and has a maximum loan to value of 80%, they may apply for a rate and term refinance (no cash out). Caliber simplifies the process for these specific loans, and your eligible clients will be sail through to closing in record time.
Your Texas clients have a new reason to consider themselves lucky to live in the Lone Star State. Article XVI, Section 50(a)(6), of the Texas Constitution controls how borrowers are allowed to access the equity in their homes. The result is, Texans can obtain a refinance loan not available elsewhere. Unlike some of your competitors, Caliber puts this loan in your portfolio as well. It’s another competitive advantage in being a Caliber Business Partner.
The loan must be conventional, notes and disclosures must be provided to customers within a specific time frame, and customers must meet certain requirements. For example, the existing mortgage must be in place for at least 12 months, full appraisal must be made, and the loan to value must not exceed 80%.
Caliber has taken all the steps to ensure that we comply with Texas law; we are approved to extend this refinance loan to eligible Texans. This specialization allows you to provide a unique loan product; it’s just another way to distinguish yourself with borrowers.
We also offer standard refinancing options, including the HomeOneSM (Freddie Mac) and HomeReady™ (Fannie Mae) programs.
Here at Caliber Home Loans, we help you stand apart from your competition with these unique refinancing loan products, plus conventional and government loans. Partner with us to have immediate access to all our loan options, proprietary tools and top-notch support team. Helping others realize their dreams is our daily passion. We live it, we breathe it, we work it.