Add Up Articles Directory | Free Articals | New Articles Daily | Looking for a Loan? Check out the CalPERS Home Loan Program

Considering getting a CalPERS home loan? There's no time like the present, literally. While buying your own home has always been an important step towards financial independence, today's housing prices create an ideal buying time for getting CalPERS home loans. With housing prices at record lows, you won't find a better time to get started on a CalPERS home loan program. With today's interest rates at next to nothing, it's not an unrealistic goal to have your Cal PERS loan paid off in less than 15 years.

Let's look at some of the pros and cons of the CalPERS home loan program.

First, CalPERS loans come with a discounted lending fee. Most loan offers will charge you a substantial processing fee, sometimes as much as $800, depending on the amount of the loan. In addition to that, you can kiss another $800 away for your admin fee. With a CalPERS home loan, you take care of both fees for a mere $350.

You'll find great competitive rates with a Cal PERS loan. Plus, you know you won't get taken advantage of by loan officers charging you point or origination fees. Most CalPERS home loans are maxed out to 1 percent for FHA loans, and 1.25 percent for all other loans. The amount charged in the CalPERS home loan program won't exceed these limits.

One catch is you can no longer get CalPERS home loans over $729,000. CalPers loans are designed to be affordable, not extravagant. If you're looking to buy Marlon Brando's island, the CalPERS home loan program probably isn't for you.

Also, you can no longer get rate float downs on CalPERS loans. These have been largely discontinued. You also aren't allowed to dip into your retirement for your home purchase if your CalPERS loan is over $350,000.

Those are the breaks, but when you consider the advantages over the disadvantages of the CalPERS home loan program, you'll realize it's an excellent opportunity. You get incredibly low rates with CalPERS home loans. In this housing market, you can't afford to pass. Your retirement dream home awaits. Build equity and secure financial independence with a CalPERS home loan. With interest rates this low, it's perfectly reasonable to expect your Cal PERS loan to be paid off in only a few years. CalPERS loans are the surest bet to financial security in this housing market.