CalVet Home Loan Program

What is CalVet Home Loan Program?

CalVet Home Loan Program is a grant for homebuyers in California.

• CalVet Home Loan program for California veterans. Below-market interest rates and no PMI. Can be combined with CalHFA DPA programs for additional down payment help.
• Down payment and/or closing cost assistance.
• Funding comes from State Veterans Bond.

Do you have to pay it back?

CalVet Home Loan Program is structured as a grant, so it is not repaid.

• Repayment is triggered by Sale or transfer.
• The assistance is recorded in First position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

CalVet Home Loan Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

CalVet Home Loan Program sets its income limit as follows: Contact program provider for current income limits.

• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

CalVet Home Loan Program caps the purchase price as follows: Contact program for current purchase price limits.

• Eligible property types include Single-family residence, condominium, townhome, PUD.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

CalVet Home Loan Program names veterans among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

CalVet Home Loan Program serves buyers purchasing anywhere in California.

How do you apply?

Applications for CalVet Home Loan Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Contact the administering agency to reserve funds

   Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.