How Will a CalVet Loan Help Me?
It's simple ... Lower Rates. Lower Payments. $0 Down.
California Veteran or Cal Vet loans are a great option for qualified veterans. Guidelines are similar to the VA loan, but you have to purchase in the state of California. There are several unique advantages to the CalVet home loan program including:
- Same low interest rate for all qualified borrowers
- Low group rates for homeowners insurance
- CalVet services your loan directly
Get Started with a CalVet Loan Request
How Does the CalVet Loan Work?
The exclusive benefits of the CalVet Loan are available because CalVet actually holds the title on all homes they finance. When you purchase a home through the CalVet program, CalVet buys the home and then sells it to you through a Contract of Sale. Though you legally own the home, they continue to hold the title until you pay off or refinance the loan.
Why is this a benefit?
CalVet's unique position as title holder allows them to purchase your homeowners insurance at a low group rate. This saves you money and provides premium coverage, including a life insurance policy that can help pay your mortgage in case of a tragedy. This also enables them to grant lower rates than many other financing programs, and the savings are passed on to you.
CalVet vs. VA Loans: Which One is Right for Me?
Each program has advantages and disadvantages. For example, you can't use the CalVet loan to refinance. If you want to refinance your home using the benefits you've earned, the VA Refinance Program is the obvious choice. On the other hand, poor credit won't hurt your interest rate with a CalVet loan even though it might with a VA loan. It's important to compare your options to make sure you've found the one that best fits your needs.
Veteran Home Loan Specialists
We take pride in our knowledge of home loan programs for veterans. If you have questions about your best options for a home loan, contact one of our Mortgage Specialists online or call us at 800-405-6682. We'll be happy to discuss your goals and help you determine which program is right for you.
Over 500,000 military families have come to us to use their VA Loan Benefits. Find out how we can help you...
Working with VAMC was fantastic!
"Working with VA Mortgage Center was fantastic. We got to closing on time. We had a very short deadline to get there and they made it happen for us. Our broker was really knowledgeable with everything going on in the market. He knew when to lock in the interest rate and how to get us to closing fast."
Rachel Gotts
Equal Opportunity Lender
