Your Colorado VA Loan
Handled Right!
by a fellow Vet.

Not if you have full entitlement. You can borrow as much as you qualify for with $0 down.

If part of your entitlement is still tied up in another VA loan, the county conforming limit is used to work out your zero-down ceiling: $832,750 in El Paso County and $862,500 in the Denver metro counties for 2026. I can run that Tier 2 math for you in minutes, or try the VA Entitlement Calculator.

It's a one-time fee that replaces monthly mortgage insurance. For a 2026 purchase it's 2.15% of the loan on first use with less than 5% down, and 3.3% on later uses. Put 5% down and it drops to 1.5% for everyone; 10% down drops it to 1.25%. Most veterans roll it into the loan.

You pay nothing if you receive VA disability compensation, are an active-duty Purple Heart recipient, or are a surviving spouse receiving DIC. I confirm your exemption on your COE on every file, because a missed one can cost $10,000 or more.

No. Many big-box banks and retail lenders add their own "overlays" requiring a 620 or 640 score, but the VA itself does not set a minimum. As a broker, I work with wholesale lenders who allow much lower scores and even no-score profiles. If you've served, I believe you've earned the right to use your benefit.

Absolutely. For active-duty members at Fort Carson, Peterson SFB, Schriever SFB or any other base, Basic Allowance for Housing is stable, reliable income. Because BAH is tax-free, I can "gross it up" by 25% on your application, which lowers your debt-to-income ratio and increases your buying power.

I can usually pull your COE from the VA's system in about five minutes, or you can request it yourself on VA.gov. It confirms you've met the service requirements, and you need one every time you use your VA loan.

If the system can't confirm your service automatically, the VA needs documents: a DD-214 for veterans, or a statement of service signed by your commander if you're on active duty. Discharged National Guard members who were never activated need an NGB Form 22 for each period of service and an NGB Form 23 Retirement Points Statement.

Yes. This is a common misconception. If you have remaining entitlement, which I can check in about five minutes, you can own two or more homes with VA loans at once. Many military families keep the last house as a rental when they PCS and buy the next one with their bonus entitlement.

The new home has to be your primary residence. Depending on the price, it may still be $0 down or need a modest down payment. See how it works on my second-tier entitlement page.

It's possible with a "Two-Bucket" strategy. Bucket one: a seller can pay all of your standard closing costs, such as title, appraisal, recording and up to 2 discount points, with no VA cap. Bucket two: under the VA 4% rule, the seller can add up to 4% of the home's appraised value in concessions, like paying off a credit card, prepaying taxes and insurance, or covering your funding fee.

In a market like Colorado Springs, I help your agent structure the offer so you can walk away with zero out of pocket.

If you have 20% to put down, a conventional loan saves you the funding fee. But compare it carefully: VA rates typically run about 0.5% lower than conventional, so put a conventional loan with 1.25% in discount points side by side with the VA option. And if you're exempt from the funding fee, VA is a no-brainer.

Because I'm a broker, I'll run that comparison on your actual file so you can see the lifetime savings.

There is a lot of misinformation here. A VA appraisal is simply designed to make sure the home is safe, sound and sanitary for a veteran. In a competitive market like Colorado Springs, I help you navigate it, and the VA gives you two protections no other loan type has: Tidewater and the Reconsideration of Value.

If the appraiser can't support the contract price, they issue a Tidewater notice to me before finishing the report. I contact both the listing agent and your agent and request documentation supporting the contract value, usually recent comparable sales. We have two business days to get that back to the appraiser. It's one more way the VA protects veterans in a home purchase.

Tidewater happens before the appraisal is turned in. If the value still comes in low, the Reconsideration of Value is your next recourse. It's a formal request to the VA, outside the original appraiser, to review the report for specific errors or market data that was missed, such as location, unique features or local influences.

The request has to come from you, the veteran, but I'll draft it with you and take the lead. Most retail lenders won't take the time to file an ROV. I've done many of them, and as a retired Navy vet myself, I take this very seriously.

Yes, but it works differently than a conventional loan. A non-veteran, non-spouse co-borrower creates a VA "joint loan," which needs prior approval from the VA. The VA only guarantees the veteran's share, so the co-borrower's portion typically needs a 25% down payment on their share. On a 50/50 split, that's about 12.5% of the price.

Income and assets aren't blended either: you qualify for your portion and they qualify for theirs.

Condos: yes, if the complex is on the VA's approved list, and approval can sometimes be requested if it isn't. Manufactured homes: absolutely. Many big lenders like USAA and Veterans United won't do them, but that's their rule, not the VA's. A VA loan is the best way to buy one.

Building: see my VA One-Time Close construction loan. Fixer-uppers: the home has to meet VA minimum property requirements, so safety and structural issues usually must be repaired before closing, or you can finance the repairs with a VA renovation loan.

Some CHFA programs can be paired with VA financing. Because VA needs no down payment, the help mostly goes toward closing costs, and income and price limits apply.

Colorado also exempts 50% of the first $200,000 of your home's value from property tax if you're rated 100% permanent and total or receive individual unemployability (TDIU). Gold Star spouses can qualify too. You apply through the Colorado Division of Veterans Affairs by July 1.

Yes. The VA IRRRL, or streamline refinance, can lower your rate with no appraisal, no income documentation in most cases, and only a 0.5% funding fee. It has to pass the VA's net tangible benefit test, including a 36-month recoup. See the details on my VA IRRRL page.