• 100 percent Financing
  For conventional fixed rate CalPERS financing, purchase a home with a 95 percent CalPERS mortgage loan and up to a 5 percent Personal Retirement Account Secured Loan (PRASL). For CalPERS government financing, purchase a home with a 95 percent or greater loan-to-value (LTV) (up to maximum FHA LTV limits**) and secure all or a portion of the difference with a PRASL. Only CalPERS offers this excellent benefit.

• FREE 60-Day Rate Protection
  Lock in the interest rate and eliminate concerns about interest rate increases. During the 60-day rate lock, CalPERS is taking the interest rate risk. Other loan programs charge extra for a 60-day rate lock, or the borrower takes the interest rate risk by floating until loan approval.

• Two FREE CalPERS Float Downs
  Receive the lowest CalPERS interest rate on three applicable dates: date of application*; date of loan approval; and date loan documents are drawn. Most other loan programs don't offer float downs or charge extra for this benefit.

• Controlled Closing Fees
  CalPERS has set maximums on some of the fees involved with a home loan, making the CalPERS loan very affordable. Most other loan programs have higher closing fees.

• Closing Cost Assistance
  With CalPERS FHA/ARM financing, the borrower may buy up the ARM margin from 2.00 percent to 2.75 percent and directly offset a portion of his closing costs. The borrower's own funds, a gift from a relative, and seller contributions** may also be used to pay for closing costs. CalPERS ensures that the borrower won't be overcharged on his loan closing fees.

• Conventional and Government Fixed/ARM Financing Available Purchases and Refinances
  (including streamlined refinances)

• Competitive Interest Rates
  Set daily.

* May differ in cases of pre-approval, new construction, or extended escrow.
** Subject to certain restrictions.