News & Events

What Happened to the CalPERS Member Home Loan Program?

CalPERS has not had a Member Home Loan program for several years. There was a program started in 1982 but it was discontinued in December 2010 due to several external factors, including changing market conditions.

But I’ve Seen Home Loan Programs Advertised for CalPERS Members

Companies advertising home loans for CalPERS members or state employees aren’t directly affiliated with or endorsed by CalPERS. Some of these ads are misleading – make sure to do your research.

Can I Borrow from CalPERS to Buy a House?

No, you can’t borrow from your CalPERS retirement account to buy a house.

If you’re leaving CalPERS employment, you can elect to take a refund of your contributions plus interest. Employer contributions aren’t refundable. However, taking a refund ends your CalPERS membership. This means you lose the right to receive a service or disability retirement benefit. Since this can impact your future retirement income, carefully consider your decision to refund.

Homeownership Assistance Programs

If you wish to purchase a home in California, the following state agencies may have programs or resources available to you:

California Housing Finance Agency (CalHFA) Loan Programs

CalVet Home Loans