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California Veteran Home Loans
What is the best way for Military Veterans residing in California to secure the lowest rate mortgage for purchase or refinance?
 California Vet home loans offer Veterans 100% home mortgage financing with reduced interest rates for purchase and refinance transactions. Nationwide Mortgage Loans offers VA home loans for refinancing, purchasing and debt consolidation.
Recently we introduced the Cal-Vet Home Loan that was created to help California Veterans with home financing. These mortgage loans typically offer retired military personnel reduced rate financing with interest rates below market levels and often no down payment is needed for home purchase loans. Recently the VA expanded eligibility so that nearly any veteran wanting to buy a home in California is eligible.
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Frequently Asked Cal-Vet Home Loan Questions |
What are the eligibility requirements for Cal-Vet Home Loans?
Veterans who served a minimum of 90 days active duty and received an Honorable Discharge and are eligible for the Cal-Vet Home Loan Program. There may have been changes in the Military & Veterans Code and Cal-Vet Home Loan funding policies that may have made more veterans eligible under state law.
Can I refinance if I already own home?
No. You are required to apply prior to purchasing a new home if you are seeking financing via the Cal-Vet Home Loan Program prior to processing the property or taking title to the home. If you are building a house on land you already own, you need to submit for approval prior to construction completion.
Is there a pre-penalty to refinance my Cal-Vet mortgage down the road?
Cal-Vet Home Loans have no prepayment penalties of any kind. You can refinance or pay off this mortgage loan at any time. |
 Bad Credit Home Loans Available
According to the Revised VA Pamphlet 26-7, Chapter 4, Credit Underwriting, bad credit may not disqualify a veteran from getting a VA loan. There are ways you may qualify even with bad credit.
- VA Loans for buying or refinancing
- Appraisal may be waived!
- 100% Home Loans
Is the Cal-Vet interest rate fixed?
Cal-Vet Loans have an adjustable interest rate. Unlike most variable rate mortgages, the Cal-Vet home mortgage rates have been very stable because the interest rate is not tied to an index, like the MTA, COFI or Treasury. Home loans granted in 1999 and since then have mortgage rates that are based on the cost of the bond funds and market conditions and are capped at the interest rate increase of 0.5% (1/2 of 1%) over the term of the 30-year mortgage loan. |
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