CalPERS Member Home Loan Program
The California Public Employees' Retirement System (CalPERS) offers a special home loan and mortgage program for CalPERS Members called the CalPERS Member Home Loan Program.
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Who is Eligible?
Active, Inactive, or Retired Members of:
The CalPERS Retirement System (CalPERS)
Judges’ Retirement System (JRS)
Legislators’ Retirement System (LRS)
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Benefits to Members
Options of a CalPERS Home Loan include special cost protections and a variety of loan choices.
CalPERS loans offer competitive interest rates for purchases and refinances which are set daily by CalPERS.
Personal Loan Program & 100% Financing Option.*
Up to 100% of the purchase price, depending on subordinate financing options chosen.*
FREE 60-Day Rate Protection.*
Two FREE CalPERS Float Downs.*
Increased Flexibility with the 30-day Rate Lock.
Controlled Closing Fees.
Closing Cost Assistance.*
Reduced Mortgage Insurance Rates.*
Reduced Escrow & Title Fees.*
The program is available nationwide.
CalPERS offers a variety of options for purchasing or refinancing a home through this program.
*Call for details.
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CalPERS Purchasing Options
Typically a 10- to 30-year conventional fixed-rate mortgage - up to a maximum of 97% loan to value (LTV) for the property with certain restrictions.
Maximum loan value is $1,668,000, with certain restrictions.
Can be combined with the Community Home Buyer and Mortgage Credit Certificate (MCC) options to assist first-time home buyers and low-to-moderate income home buyers.
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Refinancing Your CalPERS Mortgage
If you have an existing home loan and would like to refinance it with a CalPERS Loan, you also have a choice!
Up to 95% of the home value, if you want refinancing for an existing first mortgage (no cash back)*.
Up to 90% of the home value, if you want cash back (some restrictions apply). Contact us for additional information.
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CalPERS Premium Pricing Option*
Using the CalPERS Premium Pricing option, you can pay a slightly higher interest rate and receive funds back to pay for some of all of your closing costs and/or mortgage insurance.
*Call for details.
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Processed through a CalPERS Approved Lender.