1. (a) Credit Reports as set forth in Sections 309.1 and 309.2.
2. (b) Consideration of Bankruptcies as set forth in Section 309.4.
3. (c) Analysis of Income/Expense as set forth in Sections 309.5 and 309.6.

All applications for CalVet Loan shall be subject to the Home Loan Division's credit review and evaluation prior to the Home Loan Division's decision to approve or disapprove making a loan. The Home Loan Division's review and evaluation of an applicant's creditworthiness shall consist of an analysis of the applicant's assets, income and income potential to meet the expenses of home ownership and other living costs. No single factor shall be the sole basis by which the applicant's creditworthiness is evaluated. The Home Loan Division's shall use the following factors to evaluate the applicant's financial status:

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

History

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

2. Amendment of first paragraph filed 3-24-2026; operative 7-1-2026 (Register 2026, No. 13).