State treasurer announces sale of $102 million in Veterans General Obligation Bonds to provide housing

SACRAMENTO – California State Treasurer Fiona Ma announced the sale of $102 million in Veterans General Obligation Bonds.

The funds will be used by the California Department of Veterans Affairs to provide home loans to veterans in California.

"Today’s veterans have answered our nation’s call in unimaginable ways," Treasurer Ma said. "Multiple deployments, families placed on hold, injuries – these are among the many important reasons we would want to offer a special salute to the dedicated men and women of the armed forces. It is an honor to play a part in the continuation of this critical program that ensures homeownership opportunities."

The bonds were competitively offered in two separate bid groups, Bid Group A was awarded to Raymond James & Associates, Inc. at a true interest cost of 3.52 percent and Bid Group B was awarded to J.P. Morgan Securities LLC at a true interest cost of 3 percent.

Since its establishment in 1921, the CalVet Home Loan program has provided loans to more than 425,000 veterans in California.

The program’s guiding principle is to provide the best product for the lowest possible cost, without costing California taxpayers a penny.

For more information about the CalVet Home Loans, call 1-916-503-8318 or visit

A calendar of all upcoming state bond sales is available at