CalPERS/CalSTRS Loans

Q: I was wondering how much time after a bankruptcy does CalPERS allow home loans?
View Answer

Q: I am currently a PERS member and am looking into buying a home. How do I start the process about having a PERS lender for my purchase? Also, my father-in-law will be a borrower with me also. Do you think this might be a problem?
View Answer

Q: I read your column about PERS financing and wanted to alert you that PERS may be great, but it is not fast. They are so backed up right now with so many loan applications, the process is extremely slow. My credit union matched the PERS quote, but I lost money because I missed my closing date by 7 days and had to pay $45 a day to my landlord for going over the time in my rental.
View Answer

Q: I am a State employee with over 20 years of continuous service. My new home agent is pursuing a PERS jumbo home mortgage for us. Will my 5% taken from my retirement account suffice as the required down payment or are the funds to come directly from me or my bank?
View Answer

Q: What is PERS?
View Answer

Q: My wife and I are moving to California in December and want to purchase our first home. However, we have heard of the high cost of housing in California and I imagine there are not as many mortgage choices available now after the subprime calamities. My wife is a Teacher and I will be employed in the Corrections system. We have very little for down payment. Is our situation hopeless in light of the latest lending guidelines?
View Answer

Back to FAQs