| CalPERS protects it's members by
controlling interest rates and setting limits on the loan fees involved with a home loan
mortgage. All other third party fees subject to going rate. The maximums are as follows: Conventional & Jumbo CalPERS Home Loans
- Loan Origination Fee - 1.25%*
- Loan Processing Fee - $350*
- Tax Service Fee - $70*
- Wire Fee - $59
- Flood Certification Fee - $14.50*
- .250 points for adverse market conditions
on Conventional loans.
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Possible Additional Loan Fee Adjustments on Conventional Loans.
FHA CalPERS Home Loans
- Loan Origination Fee - 1.00%
- Seller must pay Buyer's Non-Allowable fee's
- Seller closing cost credit up to 6% of sales price.
Following is a list of Closing Costs sources.
- Seller Contributions
- Members Assets in financial institutions
- Stock, bonds, mutual funds, 401k's, etc
- CalPERS Retirement Account Secured Loan
- FHA only - Gift from family, employer, or approved non-profit agency.
This make a CalPERS loan very affordable and favorable for CalPERS,
LRS, and JRS members.
With a clear understanding of the various CalPERS loan programs,
following you will need to gather the "Documents
Needed" to process a CalPERS loan. For a complete list, click HERE.
* Based on Conventional and Jumbo Purchase Loan. Fee's
differ for Government Loans and Refinances. |
