Calvet Home Loans
1227 O Street, Suite 222, Sacramento, CA 95814
www.calvet.ca.gov
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
17,923
Total loans closed with Loan Factory (past 12 months)
14,517
Lender overview
Basic information
VA
We mandate Fire hazard and Disaster internally and processor internally will handle it (impounded). Customer must get own content an liability paid directly by borrower
N/A
Lock policies & Fees
Lock Policies
N/A
N/A
No
Lender's niche & Overlays
Manually u/w do not use DU no fico score hard guideline
Niches
- Federal VA does not have a fico score requirement it is a bank overlay we underwriter in house with VA underwriters and do not need DU providing a clear and more personalized approval of a veteran file.
- We do not open market price our VA bond program has set rates that do not fluctuate daily they are based on service time
- We will always provide the veteran the best bond rate at time of submission that is being offered upon review of DD214 or Statement of Service
- We do partial entitlements meaning we do VA behind VA ( most lenders need 25% entitlement we will go as low as 15% )
- Our loan limits are 125% above county conforming limit to 100%
- DPA closing cost program 3% of the purchase price or appraised value table funded at closing. Silent 1st 10 yrs repayable over the last 20yrs or if they refi or sell.
- Closing turn times 25 to 30 days
- We have no junk fees just 1% origination which is surrender to you as the broker no other fees can be charged by you as the broker otherwise all other fees are standard fees appraisal credit report title fees -impounds – daily interest
- We self- insure our loans – per bond memorandum customer must carry our Fire Hazard and Disaster Insurance 250/500 deductibles with 100% rebuild clause
- Mobile Homes on Land or park – Must get on Fire and Hazard
- They will still only get Disaster only
- Condo – Verification that HOA covers
- They will still only get Disaster only
- We also have an in house product Cal Vet 95/97 that mirrors VA loan with no MI that we only use in unique situations
- No entitlement available due to circumstance or other property
- NO COE however borrower / Veteran service active duty for 90 days
- We will always go VA first however will always look for an option to assist the veteran if there is one
Only overlay veteran – veteran spouse – veteran and domestic partner
Lender turn time
7
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N/A
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