GOLD FORTUNE REALTY
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CONTACT US NOW
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We are totally focused on
our client's needs, and we
work hard to realize their
dreams as if they were
our own.
GOLD FORTUNE REALTY
our client's needs, and we
work hard to realize their
dreams as if they were
our own.
GOLD FORTUNE REALTY
CALVET Loan Programs
FREQUENTLY ASKED QUESTIONS
Who are eligible?
All veterans who served on active duty a minimum of 90 days (not including active duty for training
purposes only), whether during wartime or peacetime periods are eligible. Eligibility requires service
under honorable conditions. There are no prior residency rules--a veteran may have entered service
from outside California. National Guards or reservists who have been ordered to active duty, including
Active Guard/Reserve duty are eligible.
If you received a discharge classified as Honorable or Under Honorable Conditions, and you served a
minimum of 90 days active duty (not including active duty for training purposes only), you are eligible for
a CalVet Home Loan. Recent changes in the Military & Veterans Code and CalVet Home Loan funding
policies have made most veterans eligible under state law, including those whose entire active service
was during peacetime.
There are exceptions to the 90 days service requirement for veterans who
* were discharged sooner due to a service-connected disability, or
* are eligible to receive a U.S. campaign or expeditionary medal, or
* were called to active duty from the Reserves or National Guard due to a Presidential Executive Order.
Current members of the California National Guard or the US Military Reserves who have served a
minimum of one year of a six year obligation are also eligible provided they qualify as first time home
buyers or purchase properties located in certain Targeted Areas
Active Duty Personnel
CalVet Home Loans are available to active duty personnel. However, there is an occupancy requirement
for the life of the loan. The applicant or members of the applicant's immediate family must occupy the
home within 60 days of close of escrow and continue to occupy until the loan is paid in full.
Refinancing Current Home
Refinancing current home is not allowed. Cal Vet cannot refinance a loan on an existing home.
Restrictions
CalVet Sales Price Limits Calvet Income Limits Calvet Target Areas
Prequalification Application Package
Documents Required with the Loan Application Package
* V.A. Certificate of Eligibility (Go to http://www.homeloans.va.gov/eligibility.htm to obtain a copy)
* Your DD 214 or Release from Active Duty (Go to http://www.archives.gov/veterans/military-service-
records/get-service-records.html to order a copy.)
* W-2 forms for the past two years.
* Recent paystub(s) covering a full month (originals).
* Bank statements for (3) months for accounts to be used for the down payment/closing costs
Interest Rates
Refer to the current interest rate effective May 8, 2009 published by CalVet. (subject to change without
prior notice)
Can you take out a "second" mortgage loan through another lender behind your Cal-Vet loan?
Yes, with Cal Vet's permission. You and your lender will be required to complete a “Consent to
Encumber” form.
What out of pocket fees do I have to pay to my mortgage broker?
Gold Fortune Realty Services does not charge any processing or application fees. There may be other
fees or points assessed by Cal Vet and out of pocket costs that includes the cost of appraisal. A good
faith estimate will be provided by Cal Vet when an application is submitted.
Disclosure of Licensed Status in Advertising
California Business & Professions Code 10140.6 states:" A real estate licensee shall not publish,
circulate, distribute, nor cause to be published, circulated or distribted in any newspaper or periodical, or
by mail any matter pertaining to any activity for which a real estate license is required which does not
contain a designation disclosing that he is performing acts for which a real estate license is required."
A mortgage broker may be licensed by either the California Department of Corporations or the California
Department of Real Estate.
California Business and Professions Code Section 10130 does require that any person who engages
in the business, acts in the capacity of, advertises or assumes to act as a real estate broker or
salesperson within this state must hold a California Real Estate License. That includes conducting
mortgage loan activities in other states from within California unless otherwise exempted from the
licensing requirements pursuant to Business and Professions Code 10133.1(a).
In addition, the California Business and Professions Code Section 10236.4 (a) provides: “In compliance
with Section 10235.5 every licensed real estate broker shall also display his or her license number on
all advertisements where there is a solicitation for borrowers or potential investors.
Prior to using the services of a mortgage broker ensure that you check to make sure they are properly
licensed by checking with the California Department of Corporations at www.corp.ca.gov or 1-866-275-
2677 and/or the California Department of Real Estate at www.dre.ca.gov or (916) 227-0931.
Always ensure you check the license status of an individual or business before you do business with
them. Not only is a license required for any type of real estate activities, a business license is required
for doing business in a particular jurisdiction (City). In addition, a filing of a Fictitious Business License
is required with the County and the California Department of Real Estate when the individual or
business is using a Fictitious Business Name.
Who are eligible?
All veterans who served on active duty a minimum of 90 days (not including active duty for training
purposes only), whether during wartime or peacetime periods are eligible. Eligibility requires service
under honorable conditions. There are no prior residency rules--a veteran may have entered service
from outside California. National Guards or reservists who have been ordered to active duty, including
Active Guard/Reserve duty are eligible.
If you received a discharge classified as Honorable or Under Honorable Conditions, and you served a
minimum of 90 days active duty (not including active duty for training purposes only), you are eligible for
a CalVet Home Loan. Recent changes in the Military & Veterans Code and CalVet Home Loan funding
policies have made most veterans eligible under state law, including those whose entire active service
was during peacetime.
There are exceptions to the 90 days service requirement for veterans who
* were discharged sooner due to a service-connected disability, or
* are eligible to receive a U.S. campaign or expeditionary medal, or
* were called to active duty from the Reserves or National Guard due to a Presidential Executive Order.
Current members of the California National Guard or the US Military Reserves who have served a
minimum of one year of a six year obligation are also eligible provided they qualify as first time home
buyers or purchase properties located in certain Targeted Areas
Active Duty Personnel
CalVet Home Loans are available to active duty personnel. However, there is an occupancy requirement
for the life of the loan. The applicant or members of the applicant's immediate family must occupy the
home within 60 days of close of escrow and continue to occupy until the loan is paid in full.
Refinancing Current Home
Refinancing current home is not allowed. Cal Vet cannot refinance a loan on an existing home.
Restrictions
CalVet Sales Price Limits Calvet Income Limits Calvet Target Areas
Prequalification Application Package
Documents Required with the Loan Application Package
* V.A. Certificate of Eligibility (Go to http://www.homeloans.va.gov/eligibility.htm to obtain a copy)
* Your DD 214 or Release from Active Duty (Go to http://www.archives.gov/veterans/military-service-
records/get-service-records.html to order a copy.)
* W-2 forms for the past two years.
* Recent paystub(s) covering a full month (originals).
* Bank statements for (3) months for accounts to be used for the down payment/closing costs
Interest Rates
Refer to the current interest rate effective May 8, 2009 published by CalVet. (subject to change without
prior notice)
Can you take out a "second" mortgage loan through another lender behind your Cal-Vet loan?
Yes, with Cal Vet's permission. You and your lender will be required to complete a “Consent to
Encumber” form.
What out of pocket fees do I have to pay to my mortgage broker?
Gold Fortune Realty Services does not charge any processing or application fees. There may be other
fees or points assessed by Cal Vet and out of pocket costs that includes the cost of appraisal. A good
faith estimate will be provided by Cal Vet when an application is submitted.
Disclosure of Licensed Status in Advertising
California Business & Professions Code 10140.6 states:" A real estate licensee shall not publish,
circulate, distribute, nor cause to be published, circulated or distribted in any newspaper or periodical, or
by mail any matter pertaining to any activity for which a real estate license is required which does not
contain a designation disclosing that he is performing acts for which a real estate license is required."
A mortgage broker may be licensed by either the California Department of Corporations or the California
Department of Real Estate.
California Business and Professions Code Section 10130 does require that any person who engages
in the business, acts in the capacity of, advertises or assumes to act as a real estate broker or
salesperson within this state must hold a California Real Estate License. That includes conducting
mortgage loan activities in other states from within California unless otherwise exempted from the
licensing requirements pursuant to Business and Professions Code 10133.1(a).
In addition, the California Business and Professions Code Section 10236.4 (a) provides: “In compliance
with Section 10235.5 every licensed real estate broker shall also display his or her license number on
all advertisements where there is a solicitation for borrowers or potential investors.
Prior to using the services of a mortgage broker ensure that you check to make sure they are properly
licensed by checking with the California Department of Corporations at www.corp.ca.gov or 1-866-275-
2677 and/or the California Department of Real Estate at www.dre.ca.gov or (916) 227-0931.
Always ensure you check the license status of an individual or business before you do business with
them. Not only is a license required for any type of real estate activities, a business license is required
for doing business in a particular jurisdiction (City). In addition, a filing of a Fictitious Business License
is required with the County and the California Department of Real Estate when the individual or
business is using a Fictitious Business Name.
Gold Fortune Realty Services is a CALVET certified mortgage broker for Solano County
California Department of Real Estate Broker License#01725392
California Department of Real Estate Broker License#01725392
Copyright 2008