What Are CalVet Loans?
CalVet home loans are administered by the California Department of Veterans Affairs (CalVet) — separate from the federal VA loan program. CalVet actually purchases the property on the veteran's behalf and sells it back through a land contract, creating a unique structure that offers benefits not available through standard VA loans: built-in disaster indemnity protection (fire, earthquake, flood) at below-market rates, competitive interest rates that are sometimes lower than federal VA, and the ability to finance the CalVet funding fee.
Eligibility requires California residency, qualifying military service (similar to federal VA requirements), and the property must be in California. CalVet loans have a maximum loan amount that varies by county. The program is funded by California general obligation bonds, which allows CalVet to offer consistently competitive rates regardless of broader market conditions.
Frequently Asked Questions — CalVet Home Loans
What is a CalVet loan?
CalVet is a California-specific home loan program run by the state Department of Veterans Affairs, separate from the federal VA loan. The state buys the property and sells it to you under a contract of sale, which lets it offer below-market rates and bundled disaster coverage. It requires 0-5% down, a 620 credit score, and the property must be your primary residence.
What credit score do I need for calvet home loans?
Most CalVet loan programs in California look for 620+. Credit tends to affect your pricing more than your eligibility — a stronger score usually shows up as a lower rate rather than a different answer on whether you qualify.
How much down payment do I need?
A CalVet loan in California typically requires 0-5% down. The exact figure moves with your credit profile, occupancy and property type — stronger files land at the low end of that range.
How long does closing take?
A CalVet loan in California generally closes in 30-45 days. Appraisal turn times and how quickly you return requested documents are the two things that move that timeline most.
Can I use this program for an investment property?
A CalVet loan is available for primary residence only. Occupancy affects both pricing and down payment, so confirm the intended use up front — it changes the terms you are quoted.
Are rates higher for calvet home loans?
CalVet loan rates run at or close to conventional market rates, since these are agency-eligible loans. Your specific number depends on credit, down payment, occupancy and the day you lock.
Do I need to verify my income?
For a CalVet loan, income is full documentation, with the CalVet contract-of-sale structure. This is the main way the program differs from a standard conventional loan, and it is usually the reason borrowers choose it.
Can I refinance later into a different program?
Yes. With a CalVet loan the usual path is to CalVet loans can be refinanced conventionally, though most veterans keep the rate. Nothing locks you in — plan the exit when you take the loan rather than after.
What documents do I need to apply?
For a CalVet loan you will need a government ID, credit authorization and property details, plus your DD-214, Certificate of Eligibility and standard income documents.
How do I get started?
Call (888) 703-1840 for a free CalVet loan consultation, or use the form on this page. Pre-approval usually takes 1-3 business days, and there is no cost and no hard credit pull to find out what you qualify for.
Related Loan Programs
What is a CalVet loan?
CalVet is a California-specific home loan program run by the state Department of Veterans Affairs, separate from the federal VA loan. The state buys the property and sells it to you under a contract of sale, which lets it offer below-market rates and bundled disaster coverage. It requires 0-5% down, a 620 credit score, and the property must be your primary residence.
What credit score do I need for calvet home loans?
Most CalVet loan programs in California look for 620+. Credit tends to affect your pricing more than your eligibility — a stronger score usually shows up as a lower rate rather than a different answer on whether you qualify.
How much down payment do I need?
A CalVet loan in California typically requires 0-5% down. The exact figure moves with your credit profile, occupancy and property type — stronger files land at the low end of that range.
How long does closing take?
A CalVet loan in California generally closes in 30-45 days. Appraisal turn times and how quickly you return requested documents are the two things that move that timeline most.
Can I use this program for an investment property?
A CalVet loan is available for primary residence only. Occupancy affects both pricing and down payment, so confirm the intended use up front — it changes the terms you are quoted.
Are rates higher for calvet home loans?
CalVet loan rates run at or close to conventional market rates, since these are agency-eligible loans. Your specific number depends on credit, down payment, occupancy and the day you lock.
Do I need to verify my income?
For a CalVet loan, income is full documentation, with the CalVet contract-of-sale structure. This is the main way the program differs from a standard conventional loan, and it is usually the reason borrowers choose it.
Can I refinance later into a different program?
Yes. With a CalVet loan the usual path is to CalVet loans can be refinanced conventionally, though most veterans keep the rate. Nothing locks you in — plan the exit when you take the loan rather than after.
What documents do I need to apply?
For a CalVet loan you will need a government ID, credit authorization and property details, plus your DD-214, Certificate of Eligibility and standard income documents.
How do I get started?
Call (888) 703-1840 for a free CalVet loan consultation, or use the form on this page. Pre-approval usually takes 1-3 business days, and there is no cost and no hard credit pull to find out what you qualify for.
Federal VA programVA IRRRL →
VA streamline refiFirst-Time Buyer →
All buyer programsConventional →
Standard financing
Last updated: July 2026. Sources: Federal Housing Finance Agency (FHFA), HUD, VA, CalHFA, CFPB, California DRE. All loans subject to credit approval. Rates subject to change. Mortgage Guide California is an educational publisher. Sponsored by Save Financial, Inc. (NMLS #377740). Equal Housing Lender.
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