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What Are the Great Advantages and Benefits of a CalPERS Mortgage Home Loan?

If you need a new mortgage and are a public employee, a CalPERS mortgage may be the most beneficial option for you. 15 to 30-year conventional fixed rate mortgages and many other standard loan types a...

If you need a new mortgage and are a public employee, a CalPERS mortgage may be the most beneficial option for you. 15 to 30-year conventional fixed rate mortgages and many other standard loan types are available for eligible members through the CalPERS program. Individuals may also look into refinancing options with up to a 95 percent Loan To Value. The types of homes a CalPERS loan can cover include two, three, four unit properties, condominiums, and many other types of housing.

With a CalPERS mortgage, members interested in a SFR, PUD or Condominiums are eligible for up to 100% financing with a personal loan from their retirement funds, they can borrow up to 5% of the purchase price not to exceed $18,421.00, certain restrictions do apply however. CalPERS mortgages do not offer options for construction or home equity lines, although the program can assist members who want to do a cash out refinance for home improvements or to pay off debt.

In order to secure a CalPERS mortgage the member who is borrowing needs to apply for the home loan just like they would with any other lender, but they would be working with a highly qualified certified loan officer that can provide the best CalPERS loan program at the lowest interest rate. People that have low to moderate income or those buying a home for the first time will have a much easier time qualifying for the CalPERS Home Loan, at the lowest interest rateFree Web Content, with lower fees.

Article Tags: Calpers Mortgage, Home Loan

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Krista Scruggs is an article contributor to ApplyOnline24-7.com. ApplyOnline24-7.com connects you with service providers that can help you find the best  CalPERS home loan. Our expertise in CalPERS home loans guarantees that your loan process will go smoothly, and you can rest assured that our Loan Officers are highly qualified and capable of handling your specialized needs.



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