Hi there Dave we currently have a loan in process with Cal/ Vet in reddind as I respond to this question. to answer your question , when you use the Bridge Mortgage Co. the process will not take longer than 30 days or escrow terms , we are certified Cal / Vet and VA lenders and take great pride in helping our veterans. We hand in complete filesto any lender we work with, this help to avoid many of the pitfalls associated with those who do not. We also have a very good working relationship with the Redding office.The 97 is a great program .Upon taking your application , and proper interview, we can hopefully forsee and avoid any pitfalls that may arise , squashing them in the process. thx for time Geno.

Cal Vet is a great program if it fits your needs. We at Ferris Financial Group, Inc. are a CAL/VET certified lender. From our experience with them, CAL/VET is charted to take care of the California Veterans and do everything possible to make you a loan. They base the loan on you, not necessarily the credit scores.

As a loan broker we are licensed by the Department of Corporations with a Finance Lenders / Brokers license. We also are licenced by the Department of Real Estate. If you are interested in hearing more, please call Ferris Financial Group, Inc., Jack Ferris at 925-858-2879 so we can discuss with you what we can or cannot do.


Licenses and Certificates Held:

California Real Estate Brokers License

California Real Estate Officers License

Department of Corporations Lenders and Broker License

State of California Occupational License

Salesperson License for Manufactured Homes

Manufactured Home Dealers License

CAL VET Loan Certification

Here is our contact information if I can answer any more questions:

Jack Ferris
Ferris Financial Group, Inc.
925-858-2879
email: ferrisfg@aol.com

The best thing about a CalVet loan is the rate which is 5.5%. There are some limitations to CalVet such as you cannot ever rent the property out. And if you income rises substantially there could be a recapture tax if you sell within 9 years. It also can take 45 days to close and you have to find a seller that would agree to a 45 day close.

100% VA purchase loan is alltogether an easier loan, but the interest rate can be slighly higher.

Rob Chomentowski Sr. Loan Officer
858-922-7899 http://www.affinity-financial.com

Dave,

Cal Vet is an ok loan if you like adjustable rate loans plus you do not own title cal vet does. The process is somewhat longer due to it being a govt agency. Have you condsidered a federal 100% VA loan with a fixed rate? I have been doing loans for 17yrs and have done my own personal VA. If you would like to discuss the merits of these and other loans please give me a call at 530-949-6841.
Jim Westerberg
USLending Co.
Redding, CA