Veteran Julian Saenz waited for his commercial lender to fund his loan so that escrow could close and he could move his family into their new home in Riverside County.

The front view of their new house.
Their new home in Riverside County.

The seller, meanwhile, had scheduled movers to transport her possessions to her new home in another state. With their closing date of February 3 looming, it was all systems go – or so they thought.

On January 25 – with just a week to go – Saenz’s bank suddenly told the Navy and Army veteran it would not fund his loan, despite his strong credit history and prior home ownership. Its internal lines of communication apparently got crossed in the midst of a corporate merger, he said.

“They were problematic throughout the process,” Saenz said.

Fearing the deal would die, he contacted David Spalding in CalVet’s Home Loans Program. CalVet came to the rescue.

Two days later – in what most certainly set a CalVet record for turnaround time – Spalding and his team processed the loan and got it approved. It was funded and escrow closed on February 2 – a day ahead of schedule. A day later, Saenz received the keys to the five-bedroom home in the city of Menifee.

A look at the backyard including a koi pond and covered porch.
A look at the lovely backyard including a koi pond and covered porch.

Indeed, a moment of panic – for Saenz, the seller, and their respective real estate agents – transformed into a moment of gratitude toward Spalding and his team that included Rosario Chavez and Maria Arias.

“CalVet pulled it off,” Saenz said. “David was cool-headed from the beginning. He and his team got it done early – not just on time. It was tremendous.”

Spalding and his team could accomplish this because they had a sizeable head start. Saenz decided to buy the home shortly after Christmas. He initially considered CalVet financing and went through the preapproval process before opting for bank financing that offered a slightly lower interest rate. When the bank backed out, Spalding already had done much of the groundwork, and the paperwork was ready to go.

Even so, Spalding made no promises to Saenz or his real estate agent, Joe Hernandez, that he could get it done in time to close by the February 3 deadline. Nor did he promise that to the seller’s agent, Kristi Harden, who also braced herself for the deal to fall apart and all of the chaos that would create. The purchase of her client’s new home elsewhere was contingent upon the sale of the home in Menifee to Saenz. She had backup offers on the one Saenz wanted to buy. Should they take one? Spalding convinced her to stick with Saenz just a big longer.

“She trusted me,” he said.

It certainly helped that the seller, the widow of a veteran who died in October, had met Saenz and really wanted another veteran to get the home, Harden said.

Then, after Saenz committed to Spalding and CalVet, the bank suddenly reversed course – again – and wanted to fund the loan. At one point, the bank even offered to reduce fees and points. Too late. Saenz already made up his mind, which was solidified by Spalding’s efforts and CalVet’s unbeatable hazard insurance.

“I’m sticking with CalVet,” he told the bank.

That was fine with his agent, Hernandez.

“(Spalding) just killed it,” Hernandez said. “He was awesome. I would tell any vets to put (CalVet) on their radar.”

When Spalding told the seller’s agent that the loan had been approved after just two days, the news floored her.

“Are you kidding me?”  said Harden. “Pinch me! Phenomenal! I would be calling David whenever I have another veteran client.”

CalVet also wowed Ashley Wengeler, the transaction coordinator (TC) with Harden’s office.

“In all of my years in real estate, as a TC and agent, I have never known a lender to be able to take over a VA loan (so close) before closing, and meet the contractual close date – until now,” Wengeler said. “CalVet stepped in and got us closed on time. The transition to CalVet as the lender was smooth and seamless. I would recommend them a million times over.”

Consider it another case of serving a veteran who served this nation, Spalding said.

“We beat the deadline, salvaged the deal, and made everyone happy,” he said. “We blew everybody’s mind.”

Indeed, CalVet Home Loans and their excellent service came to the rescue.

For more information on obtaining a CalVet Home Loan, visit or call us directly during regular business hours at (866) 653-2510. We are happy to help. 

One comment

  1. Jean Saffell · · Reply

    CalVet bas always been stellar in their home loans. Yes, the interest is generally a little higher rate, but the service from CalVet’s Home Loan Dept is phenomenal. They have always worked to benefit the VETERAN. We’ve done two complicated loans with CalVet across nearly 40 years. The first CalVet loan was a new construction loan and when we later sold and moved, our second CalVet loan was a purchase with a major remodel. We now plan to do a Home Improvement Loan within the net few years. They are our lender of preference and a great team to work with.


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