Look
at the
Savings
and Protection
of
The CalPERS Member
Home Loan Program:
Key
Benefits:
Competitive
Interest
Rates (set daily)
60
or 90-Day Rate Locks
Jumbo
Mortgages
(loans
up
to
$1,668,000)
Down
Payment
and
Closing
Cost
Assistance*
Reduced
Mortgage Insurance, Title & Escrow
Fees*
No
Cost
Interest
Rate
Float
Down
Opportunities*
Real
Estate
Assistance
with
a
Cash
Rebate* *Some
restrictions
apply.
Call
for
details
What
is a CalPERS? CalPERS includes
any active,
inactive
or retired
members
of the
California
Public
Employees'
Retirement
System,
Members
of the
Judges
Retirement
System
(JRS) and
Legislators
Retirement
System
(LRS).
Call
us
for
a
Benefit
Estimate
& Counseling
by an independent
counselor. The
CalPERS Member
Home Loan
Program is
managed by
City Mortgage,
Inc.
By:
On Realty Home Loans
888-339-4420
x421
Jonathan
Hirai, Benefits
Coordinator
Frequently
Asked
Questions:
The
CalPERS Member Home Loan
Program is for whom?
Members
of the California Public
Employees’ Retirement
System, Members of the
Judges Retirements System
(JRS) and Legislators Retirement
System (LRS)
What
are some of the primary
benefits of the Program
for CalPERS Members?
100%
Financing Options*
Lower
overall closing costs,
discounted MI, Title
and Escrow rates
2
Free
float-down opportunities
for 60 and 90 day rate
locks*.
When
can the CalPERS personal
loan be used?
For
the down payment in conjunction
with a CalPERS 1ST Mortgage.
When
is mortgage insurance
required on a CalPERS
mortgage?
When
the loan to value (appraised
value) is greater than 80%.
What
form needs to be completed
by the borrower at the
time of the CalPERS
mortgage loan application?
Form
1 (CalPERS Loan Certification
Form)
What
is the maximum loan
amount for the CitiSecond
product?
$500,000
Who
manages the CalPERS
Member Home Loan Program?
Citimortgage,
Inc.
Who
Underwrites loans for
the CalPERS MHLP?
Only
approved CalPERS participant
lenders who have delegated
authority to approve
Competitive
Interest
Rates (set daily)
