Caliber Home Loans , a Texas-based company specializing in residential mortgage origination and servicing, announced the launch of its new Non-Agency Mortgage Program designed to expand loan options for eligible and qualified consumers.
“At Caliber, we recognize that there are qualified, creditworthy borrowers with home financing needs that are not being served by the agency and government programs that are currently available in today’s marketplace,” said Caliber CEO Joe Anderson. “Our goal is to increase the opportunities available to borrowers to expand the boundaries of homeownership and allow more qualified borrowers to enter the market.”
The program features four products intended to cater to specific borrower needs: A program focused on foreign nationals; a program for borrowers seeking to finance condos that are not currently eligible for agency loans; a program offering expanded guidelines and qualifying considerations for otherwise qualified borrowers; and a credit re-establishment program for borrowers who have suffered a setback and need to rebuild their credit history.
While intending to build on its offerings to potential borrowers, Caliber says it remains committed to ensuring all borrowers have the ability to repay, regardless of the product or loan type.
"We take the Ability to Repay requirements very seriously and want to ensure that all of the products and programs we offer are a good fit for our borrowers at the time of their application," Anderson said. "By conducting in-depth Ability to Repay analysis on every loan we underwrite, we give customers the peace of mind that they are purchasing a property that they can afford."