Most Christians accept that God is omnibenevolent or maximally loving. And thus they believe the statement “God loves you” is true where “you” refers to any human person.
Calvinists reject the divine omnibenevolence. Instead they are of two different opinions.
To begin with, some argue that while God loves all people and thus “God loves you” is true for all, nonetheless God loves some people more than others and those he especially loves are those he saves. Meanwhile those he does not especially love he damns. Now this position raises some obvious questions including this: how can God love a person at all if God chooses to subject to unimaginable torture for eternity that person when he could save them with less effort than it takes me to wiggle my pinky finger?
The second view is that God loves the elect and hates the reprobate. This is a much more consistent position and it might seem to be a pretty good deal if you happen to be among the elect (but not so great if you’re one of the hated reprobate).
But it actually isn’t that great for the elect after all. Here’s why: the love God has for the elect is wholly arbitrary. And indeed it must be. If God chose to love the elect because there is something more loveable in them than the reprobate then the Calvinist would have become a Pelagian or at least a semi-Pelagian. And that is intolerable. To try to sell Pelagianism to a Calvinist is like trying to sell Kenny G T-shirts at a Metallica concert.
So it follows that those that God loves (the elect) are loved not for anything in themselves. God simply chooses to love them as an arbitrary expression of his will.
Thus to sum up, Calvinism has a doubly implausible take on the divine love. To begin with, it denies that that love is omnibenevolent. Further, the love God has for his elect is wholly arbitrary.