Interest Rates

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Interest rates are determined by the source of funds used for the loan.  The rates for current funding sources are as shown below.  Rates are set as of the date the application is received in the local Cal-Vet District Office.

Page 1
Loan Terms (4/26/2006)
Current Loan Terms, Fees & Rates
and
Funding Source Restrictions
Current
Rate
Funds
Source
Eligibility Requirements
Loan Programs
6.25%
Effective
4/26/2006
Qualified
Veterans
Mortgage
Bonds,
Unrestricted
Funds &
Qualified
Mortgage Bonds
• Veterans must have 90 days
of regular active duty and an
Honorable Discharge.
4
• Wartime service is not
required.
CalVet / VA
CalVet 97
CalVet 80/20
Interest rates and loan terms are subject to change. Contact your local CalVet District
Office, check our website at www.cdva.ca.gov or call 800-952-5626 for current information.
Loan Programs
Loan Program
►
CalVet / VA
CalVet 97
CalVet 80/20
Maximum Loan
$521,250
including the funding fee (if financed) for all loan
programs.
1
Property / Program
Type
New & Existing Homes
(including VA approved
Condominiums &
PUDs), and Mobile
Homes on Land
New or Existing Homes
including Condominiums &
PUDs, Construction Loans
Rehabilitation Loans
Mobile Homes on Land
Mobile Homes in Parks
1
New or Existing Homes
including Condominiums &
PUDs, Construction Loans
Rehabilitation Loans
Mobile Homes on Land
Mobile Homes in Parks
1
Down payment
0%
3%
20%
Funding Fee
1.25% - 3.3%
2
(may be financed)
1.25 – 2.00%
(must be paid in
escrow)
3
None
Loan Origination
Fee
1%
1%
1%
Other Requirements
VA Certificate of
Eligibility for full
entitlement
1
For Mobile Homes in Parks, the maximum loan is $125,000 and the interest rate is 1% higher (7.25%).
2
The funding fee for CalVet/VA loans is waived for veterans with disability ratings of 10% or higher. The fee is not
waived on CalVet97 loans.
3
The funding fee for CalVet 97 loans may be financed when the down payment is 5% or greater.
4
Active Duty for Training only does not qualify. Veterans discharged in less than 90 days who have a service-
connected disability or who received a campaign or expeditionary medal are also eligible. Current Members of the
California National Guard or the US Military Reserves who have never been ordered to active duty are eligible if
they qualify as “first time home buyers” or purchase homes in certain “targeted areas,” and meet income and
purchase price limits. Please contact one of our District Offices for additional information.

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