California Code of Regulations
Title 12 - Military and Veterans Affairs
Division 2 - Department of Veterans Affairs
Chapter 2 - Veterans' Farm and Home Purchases
Subchapter 1 - Eligibility and Qualifications
Section 309.5 - Financial Information Requirements

Universal Citation: 12 CA Code of Regs 309.5

Current through Register 2024 Notice Reg. No. 38, September 20, 2024

The applicant shall submit all relevant information described below:

(a) Applicant's occupation and spouse's occupation (if any).

(b) Number of years at present employment for the veteran and spouse (as appropriate). The number of years at present employment is used in considering the stability of the veteran's (and spouse's) income stream. Income shall not be considered stable when the employee has less than six (6) months with the same employer, unless there is other recent employment in the same or a similar field.

(c) Debts and obligations, including child support or spousal support, and any proposed secondary loans as described in Section 341.

(d) All income including:

(1) Gross salary and wages of the applicant and spouse;

(2) Interest on savings accounts and other investments which shall still exist after a Cal-Vet loan is made;

(3) Dividends from stock or credit union deposits which shall still exist after a Cal-Vet loan is made;

(4) Return on long-term personal notes and deeds of trust;

(5) Child or spousal support;

(6) Net income from real estate investments or business enterprises;

(7) Veteran's disability payments;

(8) Social security benefits and income from public assistance programs; Retirement income;

(9) Monetary gifts from friends or relatives;

(10) Income from military reserves or National Guard;

(11) Income from part-time or second jobs shall be considered when employment verifications indicate continued employment is likely, so long as the applicant has worked at the job for at least six (6) months.

1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).

Note: Authority cited: Section 700, Military and Veterans Code. Reference: Section 987.56, Military and Veterans Code.

Disclaimer: These regulations may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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