Caliber Home Loans makes mortgage application process easy
As Western Washington residents know, housing prices have been climbing steadily.
At the same time, Millennials who have been hesitant to buy, and previous homeowners who lost their homes to foreclosure during the recession, have watched as rental prices in a tight market have climbed past $2 per square foot.
With mortgage interest rates at near historic lows, both those groups – as well as current mortgage holders who could refinance to save themselves thousands – might want to take the plunge.
Caliber Home Loans, named in June by Metro Study, a Hanleywood company, the number one lender for servicing loans in Snohomish County, would be a smart place to start.
As many mortgage holders and would-be homeowners know, wading through the intricacies of the loan procurement process can be daunting.
That’s why Caliber prides itself on being one of the most efficient, wrinkle-free lenders in the business. While it’s a national company – one of the largest privately owned mortgage companies in America, including banks – it also could be considered the friendliest, most service-oriented of them all.
That’s not just hyperbole. John Ward, branch manager at Caliber Home Loans in Edmonds, has been in the business 16 years, and takes pride that he and his staff build relationships with their clients that last for years.
“We have a big heart,” Ward said. “We treat your family like friends and your friends like family.”
That special treatment begins with the loan application process. Caliber has built its own integrated, seamless, state-of-the-art system that turns what can be a laborious effort into a smooth, trouble-free process.
According to Sales Manager Chrystal LaCaze, unlike most home loan firms, Caliber doesn’t sell its loans, either, so clients can be comfortable knowing they’ll be dealing with the same lender throughout the life of the loan.
“You’re always going to be dealing with us,” LaCaze said. “If you have questions, want to refinance or have other issues, you can just call me.”
Since nearly all would-be homebuyers have to be pre-approved before they can make an offer, realtors increasingly want their clients to go to Caliber.
“If you go to a realtor now, they won’t start to show you houses until you talk to a lender,” Ward said. “And we’re famous for closing our loans on time.”
He said many residents don’t realize there are many options, including conventional 5% down loans, FHA approved loans with 3.5% down, even loans with down payment assistance. Caliber offers both fixed and adjustable rate loans, and financing for new construction as well.
“Rent prices have gotten so high, people don’t realize you can own your own home with a smaller payment than you’re paying in rent,” Ward said.
Current homeowners who obtained their mortgage when rates were 5%, 6%, 8% or higher are missing the boat by not refinancing.
“People haven’t taken advantage of a great opportunity,” Ward said. “You could go from a 30-year loan to a 15-year loan right now without a big difference in payments.”
Unlike big banks and other lenders that don’t know their clients, Ward and his staff at Caliber go out of their way to establish relationships that will last.
“We become friends,” Ward said. “Every year we do a financial analysis of your loan.”
If it makes sense to refinance, Caliber will show you what it would cost, how long it would take to cover that cost with lower payments, and other benefits.
If it doesn’t make sense, they’ll tell you that, too.
“If people are willing to work with me, I’m willing to go to the end of the world with them.”
The team at Caliber Home Loans at 155 3rd Ave. S, Edmonds, invites you to drop in and say hello. They’re holding an Open House from 3-7 p.m. Tuesday, Oct. 18. Stop by for refreshments and an opportunity to learn about your options to save yourself a lot of money – and make some new friends in the process.