Colorado
Branches located in Colorado
Welcome to Colorado
Known as the Centennial State, Colorado offers breathtaking landscapes, from the majestic Rocky Mountains to vast plains and high desert. With its vibrant cities like Denver and Boulder, and outdoor adventure opportunities in areas like Aspen and Colorado Springs, the state attracts residents and visitors alike.
Colorado’s military presence and veteran-friendly resources make it an ideal destination for those who have served. Its rich history, diverse culture, and strong economy contribute to a high quality of life, whether you’re exploring its natural beauty or settling down in one of its welcoming communities. At Military Home Spot Lending, we’re here to help you find your place in this incredible state.
Major Colorado Cities
Colorado's diverse cities offer something for everyone. From the bustling urban environment of Denver to the charming mountain towns of Aspen and the historic appeal of Colorado Springs, each city has a distinct character. Whether you're drawn by job opportunities, education, or outdoor recreation, Colorado's cities provide an excellent quality of life and numerous amenities for veterans and families.
Quick Links To Other City Pages
Veteran Benefits in Colorado
Colorado honors its veterans by offering a variety of benefits designed to enhance the quality of life for those who have served. These benefits include financial incentives, housing assistance, recreational discounts, and educational opportunities. Whether you're looking for property tax exemptions or tuition assistance, Colorado's veteran programs provide meaningful support.
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Colorado State Veterans Community Living Centers
Colorado is proud to host five state veterans' homes, providing essential care and support for veterans, their spouses, widows, and Gold Star parents. These homes are located in Aurora, Florence, Homelake, Rifle, and Walsenburg.
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Colorado Veteran Financial Benefits
Colorado offers a range of financial benefits to veterans, including:
- Property Tax Exemption: A property tax exemption for 50% of the first $200,000 of a home's value is available for 100% permanently and totally disabled service-connected veterans.
- Income Tax on Active Duty Pay: Active-duty military pay is tax-free if the service member is stationed and spent at least 305 days outside the continental United States. Spouses can be exempt as well if they meet the same requirements.
- Income Tax on Retired Military Pay: Military retirees can exclude part of their retirement income from state taxes based on age, with varying amounts for different age groups.
- Military Family Relief Fund: Colorado may provide grants for families of reservists/Guard members called to active duty or to families of active-duty members serving in a combat zone, helping them defray various expenses.
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Colorado State Veteran Employment Benefits
Colorado grants veterans preference by adding extra points to the passing grade of a state employment examination. Eligibility requirements include various categories and types of veterans, ensuring equitable employment opportunities.
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Colorado National Guard Education Benefits
Members of the Colorado National Guard are eligible for state tuition assistance, covering up to 100% of tuition at any Colorado state-funded institution, subject to funding availability. Eligibility criteria require a commitment of two years for each year granted.
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Colorado Veteran Recreation Benefits
Colorado provides recreation benefits for veterans, including hunting and fishing license exemptions, free state park admission for active-duty members and veterans during specific periods, and discounted admission to state parks for disabled veterans with a Columbine Pass.
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Colorado State Veterans Cemetery
The Veterans Memorial Cemetery of Western Colorado, located in Grand Junction, is the final resting place for eligible veterans, mirroring the eligibility criteria for VA national cemeteries.
Colorado's Military Presence
Colorado plays a critical role in national defense, hosting major military installations that span across the state. These bases contribute to defense readiness, specialized training, and technological advancements. Below are some key military installations in Colorado:
- Fort Carson: Located near Colorado Springs, this base is one of the largest military installations in the state and supports multiple Army units.
- Peterson Space Force Base: Home to North American Aerospace Defense Command (NORAD) and U.S. Space Command.
- Schriever Space Force Base: A hub for satellite operations and space warfare strategy.
- U.S. Air Force Academy: Located near Colorado Springs, this prestigious institution trains future Air Force officers.
- Buckley Space Force Base: Located in Aurora, Buckley SFB plays a key role in missile warning and space surveillance.
- Cheyenne Mountain Complex: A secure facility that operates as a key command center for NORAD.
VA Loans in Colorado
VA Home Loan Volume in 2024 in Colorado*
|
Total Loans |
11,138 |
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Average Loan Amount |
$490,905 |
|
Total Loan Amount (ALL) |
$5,467,700,984 |
|
Total Purchase Loans |
8,146 |
|
Total Purchase Loans % |
73.14% |
|
Total IRRRL Loans |
1,414 |
|
Total IRRRL Loans % |
12.70% |
|
Total Cash-Out Loans |
1,578 |
|
Total Cash-Out Loans % |
14.17% |
*Data pulled from the Department of Veterans Affairs.
Colorado VA Loan Requirements
VA loan requirements in Colorado align with federal standards, ensuring veterans and active-duty service members have access to affordable home financing. These criteria focus on service eligibility, discharge status, and general loan conditions.
To qualify for a VA loan in Colorado, you typically need to meet one of the following service conditions:
- 90 days of active service during wartime
- 181 continuous days of active service during peacetime
- 6 or more years of service in the National Guard or Reserves
- Unremarried surviving spouse of a servicemember who died in the line of duty or due to a service-related disability
Additional VA loan conditions include:
- Funding Fee: A one-time fee that helps fund the VA loan program. The fee varies depending on the loan amount, down payment, and military category. Some veterans may qualify for exemptions.
- Occupancy Requirement: The property must be the borrower's primary residence. Borrowers generally must occupy the home within 60 days of closing.
- Primary Residence Use: VA loans cannot be used for vacation homes or investment properties.
Colorado VA Loan Limits
In 2023, the standard VA loan limit in Colorado is $766,550 for a single-family home. Some counties, due to higher housing costs, have increased loan limits. Borrowers with full entitlement can exceed these limits without a down payment.
Loan limits reflect the maximum amount the VA guarantees without requiring a down payment. Veterans with partial entitlement may need to provide a down payment if exceeding the county loan limit.
Check with your Loan Officer to determine loan limits in your county.
VA Loan Entitlement in Colorado
VA entitlement represents the amount the VA will guarantee to the lender. There are two types of entitlement:
- Full Entitlement: Veterans with full entitlement can borrow without a down payment, regardless of loan amount, as long as they qualify with their lender.
- Remaining Entitlement: If entitlement was previously used, the VA will guarantee 25% of the county loan limit minus the previously used amount.
Entitlement is a lifetime benefit and can be restored after paying off the previous VA loan.
VA Loan Rates in Colorado
VA loan rates in Colorado are generally lower than conventional mortgage rates. Rates are influenced by market conditions, credit scores, and lender policies. The VA guarantee helps lenders offer more competitive interest rates, making VA loans one of the most affordable financing options for veterans and active-duty personnel.
Real Estate in Colorado
Colorado's real estate market is dynamic and diverse, offering everything from bustling urban areas to serene mountain retreats. Cities like Denver, Colorado Springs, and Boulder continue to experience growth, attracting families, professionals, and retirees alike. The state's favorable economic conditions, outdoor lifestyle, and strong job market contribute to a thriving housing market.
Whether you're drawn to the vibrant life of downtown Denver or the peaceful mountain towns of Aspen and Telluride, Colorado has a place for every lifestyle. Military families can find communities near bases such as Fort Carson and Peterson Space Force Base, providing both convenience and a sense of belonging.
Here's a look at the median home prices in Colorado's top cities:
Median Sale Price of Homes in Colorado*
|
Denver |
$585,000 |
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Colorado Springs |
$463,000 |
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Boulder |
$902,000 |
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Aurora |
$485,000 |
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Fort Collins |
$550,000 |
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Pueblo |
$252,000 |
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Grand Junction |
$416,495 |
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Greeley |
$419,500 |
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Lakewood |
$495,000 |
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Loveland |
$484,950 |
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Colorado State wide Average |
$625,700 |
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*Data pulled from Redfin (January 2025)
Frequently Asked Questions
Find answers to common questions about Military Home Spot Lending and our services. Can't find what your need? Get in touch with us.
A VA Loan is a mortgage designed for veterans, active-duty service members, and some surviving spouses. The VA has specific service requirements to qualify. Want to check if you’re eligible? Click here to find out.
It’s simple! First, you’ll need your Certificate of Eligibility (COE). Then, connect with a VA-approved lender like us. We’ll walk you through the process. Get started here.
VA Loans offer great benefits like no down payment, no private mortgage insurance (PMI), and competitive rates. They’re also more forgiving with credit scores. Learn more here.
Yes! Our experienced team is ready to assist. Connect with our Colorado Springs branch for personalized service.
There might be a VA funding fee and some closing costs, but these can often be rolled into the loan. We can guide you through the details. Learn more here.
VA loan limits in Colorado vary by county. For most areas, the loan limit for 2023 is $766,550. However, full entitlement allows you to borrow beyond this without a down payment. Check limits here.
Absolutely! VA Loans are known for their flexible credit requirements. Even if your credit isn’t perfect, you may still qualify. Learn more here.
VA Loans require you to use the home as your primary residence. Typically, you must occupy the property within 60 days of closing. Click here for more details.