| Due to the abundance of military installations in | | | | through the ACE (automated certificate of eligibility) |
| California, many active-duty military personnel as well | | | | system. If veterans are not on ACE, they can apply |
| as veterans make their homes in California. Home | | | | for a Certificate of Eligibility by submitting a completed |
| prices are high in California, but they have been falling; | | | | VA Form 26-1880, Request for a Certificate of |
| and the VA loan program can help save you money | | | | Eligibility for Home Loan Benefits. This form should be |
| and help make home ownership a reality. | | | | accompanied by proof of military service. |
| Down payments and private mortgage insurance (PMI) | | | | The California Department of Veterans Affairs and its |
| are not required on VA home loans, making payments | | | | CalVet Home Loan program is committed to helping |
| lower and more affordable. Generally, VA loans are | | | | military personnel with their home loans. If you need |
| available with competitive interest rates. In California, | | | | assistance, you can call or go to their websites: |
| loans are guaranteed to over $1 million. If you have | | | | · Get free mortgage counseling, 24/7, from the |
| poor credit, getting a VA loan is much more likely than | | | | HOPE hotline, 1-888-995-HOPE |
| getting a conventional loan. Also, disabled veterans | | | | · Get information on buying a home or information for |
| have some extra benefits offered by the VA as well. | | | | those in financial difficulty, yourhome.ca.org or |
| Other benefits available to home buyers with VA | | | | sucasa.ca.gov |
| loans include a one-year warranty from new-home | | | | · Get information for those who are having financial |
| builders and reimbursement for correcting structural | | | | difficulties due to activation or deployment at the |
| defects. | | | | CalVet Customer Services Unit, 1-800-952-5626 or |
| To qualify, you will need a Certificate of Eligibility. For | | | | 916-503-8362. There are protections given to service |
| active-duty service members and some veterans, | | | | members who are deployed, and you can get your |
| your lender can get the Certificate of Eligibility for you | | | | payments or interest rate reduced. |