CalVet home loan

Guest 0.10 Dollars($)

I am in California and want some information on who can qualify for the CalVet home loan and is it available for anyone who is still on active duty?

blue · Posted: Wed Feb 21, 2007 12:29 pm Post subject:

Hi Brin,

Welcome to Mortgagefit discussion board.

You would be eligible for the CalVet Home Loan if you meet the following conditions:

1. You had served a minimum of ninety days of active duty and
2. You received a discharge being classified, Honorable or Under Honorable Conditions.

Let me add that ninety days of active duty does not include active duty which was for training purposes only.

Do let me know if you have any other questions.

Thanks
Blue

Guest 0.10 Dollars($)

Brin, a person still on active duty is also eligible for the loan but for the whole loan term there is an occupancy requirement.

After closing of escrow you or any member of your family has to occupy the home within sixty days. And until the loan is paid off in full will have to continue occupying it.

Herbert M. Wassom

Guest 0.10 Dollars($)

One important thing is that the CalVet loans do not have a prepayment penalty. What it means is that if you like then can pay it off at any time.

Guest 0.10 Dollars($)

thanks all of you for the help, where I can apply for the loan?thanks again

colin · Posted: Wed Feb 21, 2007 2:01 pm Post subject:

Brin,

You can apply online at the California Department of Veterans Affairs website. This is the page where you will get all other details: http://www.cdva.ca.gov/calvet/

Colin

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