CalVet Home Loans
(California Property Only)

Just like the VA Home Loan, in California, we have a second option to help Active Military Personnel and Veterans that for one reason or another have been turned down for a  traditional VA Home Loan.  The CalVet Home Loan offers the following:

  • 100% Financing
  • Closing Cost Assitance (Must comply with income requirements)
  • FICO scores not relevant
  • Non-traditional credit tradelines allowed
  • The rate is a published rate and not based on your FICO score
  • Up to 125% entitlement benefit compared to the federal entitlement benefit
  • Fire, Earthquake & Flood insurance included
  • Residency in California not required prior to the acquisition of the home
  • Owner occupancy or a direct dependent may satisfy this requirement

The first question many veterans ask is: Do I need to be a "California veteran" to qualify for this benefit?  In other words, did I need to enlist or gain my commission in California?  The answer is no.  Any veteran purchasing an owner-occupied home in California is eligible for the benefit (this is a change from past requirements).

The second concern veterans have is: I have used my CalVet benefit already.  Can I use it a second time?  The answer to this question is YES.  As long as you do not currently have a CalVet Home loan on the portfolio, you are eligible to receive one.  There is no limit on the number of times you can apply and receive a CalVet home loan.   The following are the specific eligibility requirements:

  • All veterans who served on active duty a minimum of 90 days (not including active duty for training purposes only), whether during wartime or peacetime, are eligible.

  • Eligibility requires service under honorable conditions.

  • There are no prior residency rules.  A veteran may have entered service from outside California.  National Guard or reservists who have been ordered to active duty, including Active Guard/Reserve (AGR) duty are eligible.