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Interest Rate Information:      

  1. Mobile Homes in Parks must be funded with QVMB or Unrestricted Funds. The maximum loan is $125,000 and the interest rate is 1% higher (6.5% for QVMB funds and 7.5% for Unrestricted funds).
  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 CalVet 97 loans.
  3. 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" and meet income and purchase price limits.
  4. Active Duty for Training only does not qualify.


Interest Rates
Loan Programs and Applicable Property Types & Fees
Loan Programs
CalVet / VA
{VA Certificate of Eligibility for full entitlement required.)
CalVet 97
CalVet 80/20
Maximum Loan
$ 521,250
(Includes 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, and Mobile Homes in parks.[1]
New or Existing Homes including Condominiums, PUDs, Construction Loans, Rehabilitation Loans, Mobile Homes on land, and Mobile Homes in parks.[1]
Down Payment
0 %
3 %
20 %
Funding Fee
1.25 - 3.30 %
(may be financed)[2]
0.63 - 1.38 %
(must be paid in escrow)
None
Loan Origination Fee
1 %
1 %
1 %

Current Loan Rates, Terms and Funding Source Restrictions
Applicable to CalVet & VA Loans (Effective 7/10/2007)
Current Rate
Bond Funds Source
Subject to Income & Purchase Price Limits, and Federal Recapture?
Wartime Service Required?
Loan Programs available for:
5.45 %
Qualified Mortgage Bonds
Yes [3]
No
CalVet / VA
CalVet 97
CalVet 80/20
5.50 %
Qualified Veterans Mortgage Bonds
Must have served prior to 1/1/1977 & apply within 30 years since release from active duty.[4]
Yes
6.10 %
Unrestrictive Funds
No
No

Interest rates and loan terms are subject to change. Check out www.cdva.ca.gov or call 1-800-952-5626 for more information.

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