Cal. Code Regs. tit. 12, § 345.6 – Amounts to Be Financed on Repossessed Properties.

(a) In cases where CalVet's financing is requested, the amount financed shall not exceed the maximum purchase prices specified in Section 987.65 of the Military and Veterans Code.
(b) A purchaser of a repossessed property that has a value higher than the maximum purchase prices referred to in (a) above, must either provide cash to cover the difference between the sale price of the property and the maximum purchase price, or obtain secondary financing as described in Section 341.

Note: Authority cited: Section 700, Military and Veterans Code. Reference: Sections 985.2, 987.6, 987.51 and 987.78(a), Military and Veterans Code.

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

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