To view the CalSTRS home loan program summary Click Here.

CalSTRS (California State Teachers’ Retirement System) and Provident Home Loans Inc. welcome you to the CalSTRS Home loan Program. The CalSTRS Home Loan Program was established in 1984 as a result of legislation that provided CalSTRS with a mortgage-backed investment opportunity, along with a source of home financing for its members and retirees. As of 2003, CalSTRS has purchased 32,139 loans- amounting to $3.9 billion. Now, 20 years after the CalSTRS Home Loan Program was launched, CalSTRS and Provident Home Loans Inc. are partnering together to offer CalSTRS members a great choice of mortgage loans with competitive rates, along with first-class service.

Whether you have a borrower who is dreaming of buying a new home, would like to lower his/her existing payments, or needs to take cash out, the CalSTRS Home Loan Program offers competitive rates on a variety of mortgage loan programs.

• Standard Conventional
  
  Competitive rates are available for borrowers purchasing a home or refinancing their existing mortgage. Loan amounts up to $650,000 are available.

• Zero Down (95/5)
  
  Homebuyers can purchase a home without any money down! Loan amounts up to $450,000 are available (in designated high-cost counties).

• 80/17
  
  Because of the five-year second mortgage deferral period, borrowers can qualify for a larger first mortgage. Under this program, loan amounts up to $550,000 are available (in designated high- cost counties).

The CalSTRS Home Loan Program offers many benefits to lenders, as well as borrowers. All program interest rates are set daily and are very competitive. Lenders receive a FREE 45-day interest rate lock, protecting them from rising interest rates. And, in the event that rates fall after applying for a loan, CalSTRS offers a one-time interest rate reduction (float down option) at NO CHARGE!

Borrowers can obtain a great loan with a competitive rate- and their money works for them, since income derived from mortgage payments goes directly into the Teachers’ Retirement Fund. Lenders can benefit from providing a program with proven success, serviced by Provident Home Loans Inc.- one of the industry’s top mortgage financial companies, who is committed to excellence and first class customer service.

The following page features a CalSTRS Home Loan Program summary, highlighting the differences between the available loan programs: Standard Conventional, Zero Down (95/5), and 80/17.