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Using CalPERS to Purchase a Home

CalPERS Purchase Home Loan Program:

Qualifications:
1. Must currently or previously participated in the CalPERS Retirement System
2. Can be retired, inactive or currently employed by any State, County, Municipal or Legislative agency
3. Purchase of Primary Residence Only and not currently have a CalPERS loan

Benefits to using CalPERS Financing:
1. Competitive Interest Rates
2. Reduced Title, Lender Fees, and Mortgage Insurance Premiums
3. 103 % financing available
4. CalPERS personal loan to aid with down payment at competitive interest rates against the your retirement without loosing any vested dollars
5. Lock rates for 90 days with two free float downs to insure you've got best rate!
6. Loans up to 1.6 Million
7. Hone loans made to CalPERS employees directly support CalPERS.

Loan Programs Available:
1. Conventional 30yr Fixed Rate, No Pre Payment Penalty
2. 3/1 7/1 10/1 Arms Available
3. I/O products Available but are Fico Based to qualify
4. FHA Government backed loans
5. Down Payment assistance programs available

By Diane Tuman

Saving changes
  • Last edited October 12 2012
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