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Joe Caltabiano, Top Producer, IL - Chicago 3940 HQ

Joe Caltabiano

Top Producer
NMLS ID # 14006

joe@guaranteedrate.com

Phone: 773.290.0335

Fax: 773.435.0607

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About Me

  • Joe Caltabiano’s customer base ranges from first-time homebuyers to experienced investors who have worked with him on 20 or more loans over the years. He prides himself on listening to the needs of his customers and then offering guidance on the various programs available to them. By providing information specific to their situation, he believes he can put borrowers in a better position to make an informed decision for themselves and their families.
  • Joe began in the mortgage business in May of 2001 and joined Guaranteed Rate in 2003. Since then his business has seen annual growth, he has closed over $100M in loans every year since 2004 and has totaled over $2BB in funded loans since 2001.
  • Guaranteed Rate has added Joe to the company’s Chairman’s Circle of elite originators, and with good reason. He has been the top producer at Guaranteed Rate on numerous occasions, most recently 2013 and 2014, and has been among the top 200 loan officers in the country every year since 2005.
  • In 2011, Joe was #7 in the country for purchase business as well as the top loan officer for purchase business in the state of Illinois. He was #1 again in Illinois for 2012 and 2013, Scotsman Guide named him the #5 originator in America in 2013 and, most recently, he was named to MPA Magazine’s Hot 100 list in 2014. Additionally, he was ranked #4 in the country on Mortgage Executive Magazine’s Top Originators list.

Loan Officer Interview Q&A's

How long have you been in the mortgage business? What awards have you won?
I began in the mortgage business in May of 2001 and joined Guaranteed Rate in 2003. My business has grown every year. I have closed over $100M in loans every year since 2004, and over $2 Billion in funded loans since 2001.

I have been the top producer at Guaranteed Rate on numerous occasions, including 2013 and 2014, and have been in the top 200 loan officers in the country every year since 2005. Guaranteed Rate has named me one of 6 elite originators in the Chairman's Circle.

In 2011 I was number 7 in the country as well as the top loan officer for purchase business in the state of Illinois. I have been #1 in Illinois for 2012 as well as 2013. Scotsman Guide named me #5 originator in America in 2013 and, most recently, I was named to MPA Magazine's Hot 100 list in 2014. Mortgage Executive Magazine published their Top Originator list where I was ranked #4 in the Country.

What advice would you give new or first time home buyers?
Work with a professional who is familiar with all type of loan products: Conventional, FHA and other grant programs that may be available. Always remember, you have options!

Tell us about a mortgage product that consumers may not be aware of?
Many people think they need 20% down to get a loan. This is not true. There are loan programs that require as little as 3% down. Banks want to lend money and they want to create programs that meet homebuyers’ needs. These programs will provide lower down payment options and relaxed credit guidelines, but they’ll still have strict standards regarding documentation.

How has the mortgage industry changed since you started, and what would you expect in the future?
The biggest changes I’ve seen are related to documentation. Limited documentation mortgage loans such as stated income are no longer available. To qualify for the best rates, borrowers must supply banks with paystubs, bank statements and tax returns. I expect that banks will loosen up on this in the next few years, but the rates for low documentation loans will be significantly higher. Of course, with Guaranteed Rate’s Digital Mortgage, borrowers can now submit all of this documentation online as well as choose their own loan type and rate, get their free credit scores from all 3 credit bureaus and get a real online approval. The whole process takes about 30 minutes. Guaranteed Rate has created the mortgage of the future and it’s a real time-saver for everyone involved.

What are the top 3 misconceptions people have about the home loan process?
A common misconception is that you need 20% down to get a loan. This is not true. There are loan programs that require as little as 3% down. Banks want to lend money and they want to create programs that meet homebuyers' needs. These programs will provide lower down payment options, relaxed credit guidelines, but will still have strict standards regarding documentation.

Are you active in any fundraising organizations? What goals and/or success have you helped them achieve?
I am very involved with the Leukemia and Lymphoma Society, as I am a leukemia survivor myself. I also am involved with the Guaranteed Rate Foundation, which was established with one simple objective: Impact the lives of families and communities in times of need in a meaningful and positive way.

Tell us something that makes you unique or something wacky, yet interesting about you?
I never pictured myself in the banking industry. I always expected to be a professional tennis player or a ski bum.


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