COPPELL, Texas — Caliber Homes Loans, Inc. (“Caliber”), a national mortgage lending and servicing organization, announced today the launch of its new National Condominium Division. One of the first of its kind in the industry, Caliber’s National Condo Division is dedicated to streamlining condo processes and approvals for both buyers and developers.
“Building upon the success of Caliber’s Builder Division and Home Renovation Lending Division, there is a sharp focus on new condo development as condominiums continue to attract more buyers as single-family home inventory remains low and people return to urban areas,” said Christine Madrid, National Condo Director at Caliber. “Our team of condo specialists will help ensure efficiencies, offer loan product expertise, help secure condo project approvals and serve as a liaison between developers and condo buyers to simplify condo processes and approvals.”
Caliber’s National Condo Division specializes in loan products and financing solutions specific to condos, including expanded condo guidelines, a non-warrantable condo program and expertise when it comes to newly constructed condo financing. Unifying as a separate lending division, the team is comprised of condo-focused loan consultants and branch managers, dedicated new construction operations and fulfillment teams, a new construction-specific appraisal panel and an in-house condo project approval team to streamline.
Caliber is one of the first condo-centric lending divisions in the mortgage industry to work with both borrowers and developers in new condo construction. Working directly with condo associations for project approvals and providing ongoing consulting services for developers and their sales and marketing teams, Caliber’s National Condo Division has assisted development teams on everything from single to multiple unit properties to 1,000-unit development projects.
The Condo Division’s wide array of condo-specific loan offerings are designed to meet the complex needs of condo buyers and developers, especially when it comes to new condo construction. The loan products include conventional loans, jumbo loans, and Caliber’s prestigious Smart Series Non-QM product suite, which allows for non-warrantable condo opportunities.
“By putting all of our condo expertise, resources and tools under one channel and team, Caliber is able to provide a distinctively exceptional condo buying experience for all of our clients – customers and developers – in the most streamlined way possible,” said Sanjiv Das, Chief Executive Officer at Caliber. “As the population changes, opportunities in the condo space continue to grow and the Caliber Condo Division is a step towards the future for us as a company.”
For more information on Caliber’s National Condo Division for Builders and Developers, click here. For additional information Caliber’s National Condo Division and Condo-specific loan offerings, click here.
About Caliber
Caliber is a proven leader in the U.S. mortgage market with a diversified, customer-centric, purchase-focused platform with headquarters in Coppell, Texas. Caliber 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. Caliber carries multiple servicer ratings from Standard & Poor's, Moody's, Fitch and DBRS. Caliber is headquartered in Coppell, Texas and is a member of the New Residential Investment Corp. family.
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*Closing cost offer available to customers who apply for a new purchase loan. Only available for single family primary residences and existing Caliber customers. Credit provided at closing. The offer is nontransferable and can only be used by the intended recipient. Advertised discount can only be applied toward payment of closing costs up to a total amount of $1,000 subject to product underwriting guidelines. Any portion of the discount amount not used toward closing costs will be waived. |
| **A pre-approval does not signify that all underwriting requirements have been met. Actual terms, including interest rate, are subject to change without prior notice and may vary based on eligibility criteria. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Please contact Caliber for additional details. |
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| ***The lock will be honored up to 75 days total. Your rate is protected for up to 30 days to shop for a home. Once you identify a property, your rate will be locked for an additional 45 days. All rate lock extensions are subject to Caliber’s standard rate lock extension fees All rate lock extensions are subject to Caliber’s standard rate lock extension fees. Not available for all loan products. Please contact Caliber for additional details. |
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| ****Caliber agrees to pay the borrower the amount of the earnest money deposit (up to $5,000) following the home loan closing, if the loan does not close on or before the contract closing date due to a delay caused by Caliber. Void if there are any material changes to income or assets. Offer requires 30 business days from Caliber’s receipt of purchase contract to closing date. Other requirements include: Minimum 700 credit score, owner occupied purchase transaction. LTV and property type restrictions may apply. Available only through the Caliber Retail Channel. Payment may be subject to reporting for tax purposes. Please contact Caliber for additional details. |
