Expanded Eligibility

If you haven't checked into Cal-Vet lately, you'll be pleased to know that eligibility has been expanded. All veterans who meet the following criteria are eligible:

• Applicants must have an honorable discharge, or if still on active duty, must provide a Statement of Service verifying their active duty dates and character of service.
• Applicants must have served at least 90 days on active duty, unless they:
• were discharged earlier because of a service-connected disability; or
• received, or are eligible to receive, a campaign or expeditionary medal authorized by the U.S. Government; or
• were called to active duty from the Reserve or National Guard due to a Presidential Executive Order during a time when the United States was engaged in a military conflict. Note: Service solely for training does not qualify.
• Unless the applicant has a qualifying campaign or expeditionary medal, at least one day of active service must have been during one of the following qualifying "war" periods:

Persian Gulf War: 8/2/90 - still open
Vietnam Era: 8/5/64 - 5/7/75
Korean Period: 6/27/50 - 1/31/55
World War II: 12/7/41 - 12/31/46

• died after filing an application for a Cal-Vet Loan, or
• died from injuries incurred in the line of duty, either while on active duty, or
• is being held as a prisoner of war or has been designated by the armed forces as missing in action.

Free Pre-qualification

Have you been shopping for a home, only to be advised that you should be "pre-qualified" so you know how much of a house you should shop for? Sounds great, until you see the price tag. Use your Cal-Vet Loan and you'll get pre-qualified for free. No price tag. No hassles. No cost.

Loans up to $250,000

It's tough to find the "right" home under $250,000 in many California markets. Many traditional loan programs have loan limits much lower than Cal-Vet. This makes a combination loan, and all the extra paperwork and headaches, a necessity. You'll enjoy the ease with which you can obtain the right loan amount on your property, up to $250,000 if you qualify, in one easy package from Cal-Vet.

No Loan Origination Fee

Why pay thousands of dollars in points and origination fees to a mortgage company? Use your Cal-Vet Loan and you won't pay either of these fees. Normally loan origination fees can cost from one to five percent or your loan amount, and this is in addition to your down payment funds. With Cal-Vet, all your dollars become part of your investment in equity, instead of going to high, one-time fees charged by traditional lenders.

Only 5% down

Keep your out-of-pocket investment low with this unique, low down payment option. If you qualify for the loan amount, you'll invest as little as 5% of the purchase price as a down payment. This makes it easy for first time homebuyers, and for those buyers who would like to invest their excess cash elsewhere, to obtain a great Cal-Vet Loan.

Reusable Loans

If you've already had one Cal-Vet Loan and think you don't qualify again, then you will be happy to learn that new program changes now allow you to use Cal-Vet over and over again. Before you obtain a loan from a traditional mortgage company, check with Cal-Vet to see if you meet the current qualifications for a subsequent loan. You'll be glad you did.

No Private Mortgage Insurance: Keep those mortgage payments down by eliminating the need for Private Mortgage Insurance, and eliminate the high monthly premiums paid on most traditional loans. This is another money-saving feature of your Cal-Vet Loan that you won't find elsewhere!

Home and Loan Protection Plans: Be sure you and your family's investment is safe and sound. While thousands of Californians have lost everything in numerous natural disasters like floods and earthquakes, Cal-Vet Loan holders enjoy full replacement value for their homes, keeping disaster in check for them and their families.

You'll be protected against floods and earthquake damage with your Cal-Vet financed home. With a low, $250 deductible, you'll be on your way to recovery in days should a disaster strike. In addition, your family will be automatically protected in case of the veteran's death or disability through Cal-Vet's mortgage and disability protection plans. You'll never have to fear that "things haven't been taken care of" if something unforeseen should happen.

Sellers and Buyers Pay No Points: This is yet another way that you will come out dollars ahead when you use a Cal-Vet Home Loan. When sellers pay no points, you may be able to negotiate a lower purchase price. When you don't have to pay any points, it means that your funds go directly into equity or another investment, instead of being thrown out the window as another "fee" or "points".

Fast Processing: You'll love the fast easy processing of your Cal-Vet Loan. A qualified loan representative will help you and your agent each step of the way to a fast, 35 day average closing, from the time we get all your paperwork. Your agent can coordinate the entire process with Cal-Vet, just as they would do with any loan from any lender.

We Will Work With Your Real Estate Agent: You'll benefit from putting your real estate agent and your Cal-Vet Loan Agent in touch as soon as you start looking for property. Since veterans represent only a small portion of the real estate buying public, many Realtors are unaware of the new benefits and streamlined loan processing Cal-Vet offers. Your Cal-Vet Loan Agent will be happy to talk with your agent to help him or her understand the Cal-Vet Loan Program and develop a working relationship to assist in your home purchase.

Compare and Save With Cal-Vet Home Loans: Wouldn't you rather have your money going into your equity instead of drifting away as "costs"? Compare Cal-Vet's down payment, fees, and payment schedule. You'll be surprised to see how much a Cal-Vet loan can save you. And we'll be happy to have you as a new Cal-Vet loan holder!