Capital Home Mortgage Colorado Springs

Colorado Springs VA Home Loans

VA Mortgage Lender Colorado Springs Colorado

Colorado Springs VA Home Loan

A VA home loan is a mortgage guaranteed by the US Department of Veterans Affairs (VA). VA home loans are intended to assist military members, veterans, and qualifying surviving spouses in purchasing, constructing, or refinancing a home.

VA Loan Eligibility Requirements 

Some eligibility conditions must be met to qualify for a VA home loan. Evaluating your eligibility is the initial step in obtaining a VA loan. The following are the specifics on how to qualify for a VA home loan in Alaska:

  • Determine Eligibility

To qualify for a VA home loan, you must be a veteran, active-duty military member, or qualified surviving spouse. You must also satisfy specific service requirements, such as serving for a set period of time. The qualifying requirements vary based on your service’s nature and duration. To determine your eligibility, get a Certificate of Eligibility (COE) from the VA. You may obtain a COE through the VA’s eBenefits portal or from a VA-approved lender.

After determining your eligibility and obtaining a Certificate of Eligibility, you must find a VA-approved lender.

  • Credit and Income Requirements

In addition to satisfying the service requirements, you must also meet the credit and income criteria. The VA has no minimum credit score requirement, although most lenders want a score of 620 or above. Also, you must have sufficient income to handle monthly mortgage payments, property taxes, insurance, and other homeownership-related obligations.

  • Property Requirements

The property you want to buy must satisfy specific criteria, including being your principal residence, being in good condition, and meeting VA valuation standards. In addition, the VA has loan limits that vary by county and are modified annually based on the cost of living.

Getting pre-approval from your lender before you start looking for a home is a good idea. This can help you determine how much home you can afford and will make the home-buying process go more smoothly.

Your lender will require you to complete a loan application. The lender will evaluate your application, confirm your income, and examine your credit score. If all conditions are met, you will be given a pre-approval letter to start shopping for a home.

Pros and Cons of a VA Home Loan

VA home loans come with both benefits and disadvantages. Here’s a summary:

Pros of a VA Home Loan

  • No down payment is necessary;
  • No private mortgage insurance (PMI) is required;
  • Competitive rates of interest;
  • No prepayment penalties;
  • Easier qualifying standards;
  • Ability to refinance without incurring any out-of-pocket costs.

Cons of a VA Home Loan

  • Funding fee necessary (this can be waived for disabled veterans);
  • Strict appraisal standards;
  • Some sellers may be reluctant to accept proposals from purchasers with VA financing;
  • Limitations on how much the borrower can be charged for closing charges.

Apply For an Colorado Springs VA Home Loan

Obtaining a VA home loan in Colorado Springs entails completing eligibility standards, locating a VA-approved lender, obtaining pre-approval, house hunting, and loan application. VA home loans offer various advantages, including no down payment, competitive interest rates, and lenient eligibility requirements. Still, they have disadvantages, including a financing charge, strict appraisal requirements, and limitations on closing fees. 

Contact us at (303) 226-1177 to apply for a Colorado VA loan immediately.

VA Home Loans Alaska

VA home loans are mortgages backed by the U.S. Department of Veterans Affairs. It is intended to assist qualifying veterans, active-duty service personnel, and surviving spouses in becoming homeowners. VA home loans are offered by private lenders. The VA guarantees a portion of the loan, allowing the lender to provide the borrower with more advantageous terms.

Home loans offered by the VA can be used for any of the following: purchasing, building, improving, or refinancing a home. Borrowers who meet the criteria for eligibility still need to have the minimum credit and income requirement necessary for the loan amount they wish to take out.

Qualification Requirements of a VA Home Loan

Multiple active duty service requirements must be met to qualify for a VA home loan, and these requirements vary depending on the length of time served.

If you served between August 2, 1990, and to present, you must have either: 

  • At least 24 consecutive months of service, the entire period (of at least 90 days) for which you were called or ordered to active duty, or you must have served for the whole time you were called or ordered to active duty;
  • At least ninety days if you were discharged due to a reduction in force or a hardship; 
  • At least ninety days if you were discharged due to a hardship or a reduction in force. Less than ninety days if you were discharged due to a service-connected disability.

If you served between August 8, 1980, and August 1, 1990, you have met the minimum active-duty service requirement if you served for:

  • At least 24 months in a row, or; 
  • The full-time you were called to active duty (at least 181 days) or;
  • At least 181 days if you were let go because of a hardship or a cut in force. Less than 181 days if you were let go because of a service-related disability.

For complete eligibility requirements about VA home loans, visit the VA housing assistance page. 

Qualifications for a VA-backed mortgage loan include good credit, regular income, and a current Certificate of Eligibility (COE). Moreover, one must be the primary occupant of the dwelling.

For a home to be eligible for a VA loan, it must meet the VA Minimum Property Requirements (MPRs) set forth by the Department of Veterans Affairs. The property’s safety and condition depend on your compliance with these regulations.

Apply For A Washington VA Home Loan

At Capital Home Mortgage, we aim to simplify the application process. We handle your application from beginning to end and assist you in locating the most suitable loan program for your needs. Direct mortgage lending allows us to provide competitive interest rates and low fees. Call us at (253) 528-4417 and get your Washington VA loan today.

Mortgages backed by the U.S. Department of Veterans Affairs are known as VA loans. It is designed to help eligible veterans, active-duty service members, and surviving spouses buy homes. Private lenders provide VA home loans. A portion of the loan is secured by the VA, enabling the lender to offer the borrower better terms.

The VA provides house loans that can be used for any of the following: buying, constructing, remodeling, or refinancing a home. Even if a borrower meets the qualifying requirements, they still need to fulfill the minimum income and credit requirements for the loan amount they want to take out.

VA Home Loan Qualification Requirements

To be eligible for a VA home loan, you must fulfill a number of active duty service requirements, and these requirements change based on how long you were on active duty.

Depending on when you served, between August 2, 1990, and the present, you had to have:

a minimum of 24 consecutive months of service, a minimum of 90 days during which you were summoned or ordered to active duty, or a minimum of 24 consecutive months during which you served;
if you were let go owing to a hardship or reduction in force, at least 90 days;
if you were let go owing to hardship or a decrease in the force, at least ninety days. if your discharge was brought on by a disability related to your service, less than 90 days.

If you served between August 8, 1980 and August 1, 1990, you have satisfied the minimal amount of active-duty service requirement if you did any of the following:

At least 181 days if you were released due to hardship or a reduction in force, or at least 24 consecutive months if you were called to active duty. Less than 181 days if you were fired due to a disability acquired while serving.

Visit the VA housing assistance page for a detailed list of requirements for VA home loans.

A current Certificate of Eligibility, solid credit, and regular income are requirements for a VA-backed home loan (COE). Additionally, the residence’s primary occupier must be the applicant.

A home must satisfy the VA Minimum Property Requirements (MPRs) established by the Department of Veterans Affairs in order to qualify for a VA loan. Your adherence to these rules will determine the safety and condition of the property.

Apply for a VA mortgage in Alaska

The application procedure is intended to be made simple at Capital Home Mortgage. We manage your application from start to finish and work with you to identify the best loan package for your requirements. We can offer cheap costs and reasonable interest rates thanks to direct mortgage lending. Contact us at (907) 531-5048 to apply for an Alaska VA loan right away.

Why Colorado Springs Homebuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Colorado Springs Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Colorado Springs VA Purchase Loans

VA Purchase Mortgage Lender
  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed
  • No Monthly Mortgage Insurance
  • Seller concessions to 4%
  • higher debt to income Allowed
  • Manufactured homes permitted

Colorado Springs VA Refinance

VA Refinance Mortgage Lender
  • VA IRRRL Rate & Term
  • Streamline Option
  • No Appraisal Required
  • No Income Verification

Colorado Springs VA Ellgibility

  • Active Duty – 90 days Wartime / 180 Days Peacetime
  • Honorable Discharged – 22 Months of Completed Service
  • National Guard / Reserves – 6 Years Completed Service
  • Spouse of a Service Member who Died in the line of Duty or Service related Disability
Colorado Springs Mortgage Programs

Colorado Springs Home Purchase

Thinking of Buying a Colorado Springs Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Colorado Springs renovation home loans

Looking to Rehab a Colorado Springs Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Colorado Springs FHA Home Loans

Great for 1st Time Colorado Springs Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Colorado Springs VA Home Loans

100% Financing for Colorado Springs Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Colorado Springs Conventional Loans

Flexibility for Colorado Springs Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Colorado Springs Jumbo Home Loans

Colorado Springs Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Colorado Springs USDA Home Loans

100% Rural Colorado Springs Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Colorado Springs Native American Loans

Colorado Springs HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Colorado Springs Manufactured Loans

Great Alternative Colorado Springs Housing

Colorado Springs reverse mortgages

Your Colorado Springs Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Colorado Springs Non QM Home Loans

Making Colorado Springs Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Colorado Springs One Time Close Loans

Build Your Colorado Springs Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Colorado Springs Refinance Mortgages

Colorado Springs Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Colorado Springs Cash-out mortgages

Colorado Springs Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Colorado Springs Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Sam Klaburner

Sr Loan Officer
NMLS #140132
Jordan Mowrey

Jordan Mowrey

SR Loan Officer
NMLS 210325

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