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Welcome to California Public Employee and Teacher Resources (CalPETR™)

This resource is dedicated to California’s finest whom in recent years have lost access to the State bond programs that provided no down, or low down, home purchase options.  This included the CalSTRS® 80/17 home purchase program as well as the CalPERS® home purchase program.  As many of you know, we proudly offered these programs and more since 1988.  In response the loss of these programs, we developed our exclusive Broadview Community Access program for all State employees.  Below are updates on the all current programs.

 

News for California Public Employee and Teacher Resources

PRESS RELEASE ~ November 5, 2013 ~ CalSTRS® Home Loan Programs

“CalSTRS has decided to suspend new mortgage originations through its Home Loan Program because current market conditions do not favor more competitive products beyond what is already available to our members on the open market.

CalSTRS remains committed to the Home Loan Program, however, current conditions make its re-launch impractical. CalSTRS is striving to offer our members unique financial products while maintaining the Home Loan Program as a viable investment vehicle for the fund. These are two vital conditions for keeping the program running.

In the fall of 2011, the CalSTRS master servicing agent and program administrator for the Home Loan Program made the strategic decision to cease mortgage originations. This prompted CalSTRS to suspend its Home Loan Program. In March 2013, CalSTRS announced the selection of [] its new master servicing agent and program administrator with the expectation of announcing new program offerings sometime in September 2013. We regret that this expectation cannot be met at this time due to the factors described above.

We understand our members’ desire competitive products and value the security that comes with the CalSTRS name. That is why we will continue our relationship with our partner, Mountain West Financial, while we monitor the market for opportunities to re-launch the CalSTRS Home Loan Program at some later date.

If you are a first-time homebuyer or even if you are not, but live in a federally-designated target area, you may benefit from programs offered by the California Housing Finance Agency, a self-supported state agency.”

If you would like to do more reading about what we currently know about this program: CalSTRS® Home Connection Mortgage

® CalSTRS is a registered trademark of the California State Teachers’ Retirement System.