California public employees enjoy access to health, retirement, and financial benefits through the CalPERS (California Public Employee Retirement System) Home Loan program which offers preferential interest rates and lending terms to qualified buyers.

If you are in the market for a new home, and you qualify for CalPERS, you could not have picked a better time. Low interest rates, the economy, the foreclosure problem, and owner desperation have pushed prices so low that many homes are literally a steal these days. Despite that you still want to make sure that you get the best possible deal and a great way to do that is apply for a CalPERS home loan. Where and when you apply for a loan is very important when you think about interest rates and charges for every month. It may seem insignificant to you now, maybe it just means the difference of $30 a month or so, but that $30 will add up a lot over the next few years. In fact that little bit of money each month will add up to over $5,000 by the time 15 years has passed. It may not seem like a lot right now but would you turn down $5,000 if someone gave it to you for free? Probably not, and that’s what you are doing if you do not search for the best deal, you are turning away free money.

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