How are Cal Vet Home Loans different from other home financing?
There are some basic differences between Cal Vet Home Loans and other financing you might choose. The State of California has chosen to provide Cal Vet Home Loans as a benefit to veterans who want to live in our state. Because it is a veterans benefit we make every effort to make the loan available to all veterans. We qualify you for the loan using the same criteria as other lenders, but because we are a direct lender and we service the loans we make, we are able to give every veteran extra consideration, and if we can qualify you for a loan you get the same rate as everyone else. We will not classify you as a higher risk and increase the interest rate. Cal Vet uses a Contract of Sale as the financing instrument for our loans. What that means is that Cal Vet purchases the home you selected and takes legal title to the property at close of escrow, and then sells the property to you using a contract of sale. When the loan is paid in full, either when the last payment is made or if you re
