Colorado VA Loans

Many veterans across Colorado are realizing that the VA loan program is one of the best loan programs available today. A Colorado VA home loan allows eligible veterans to buy a home without paying mortgage insurance and qualify for up to 100% of the purchase price.

In addition to making it attractive to obtain a VA mortgage loan, once you have a VA loan, there is no easier way to lower your interest rate when interest rates drop than the Colorado VA streamline refinance program — which is also called the VA IRRRL program.

Because the VA is not a lender, they want you to be in the absolutely lowest rate possible so that you are not over-paying for a higher than market interest rate. You are probably already aware that the VA isn’t a lender – the VA only insures your loan. In the event that you default on your loan and stop making payments, the VA steps in and the lender who lent you money gets paid.  Because the VA (it is actually HUD) acts like an insurance company and lenders are “covered” up to a point if you default, lenders are excited about lending money to veterans through the Colorado VA loan program.

Highlights About Colorado VA Loans:

  • VA loan closing costs are similar to other loans
  • VA loan closing costs can be rolled into the loan
  • No prepay penalty
  • 100% financing is available for new home purchases
  • A one-time funding fee is charged on a VA loan
  • No mortgage insurance required is required

Colorado VA Loan Certificate of Eligibility

When you apply for a Colorado VA loan, your loan officer will request a copy of your Certificate of Eligibility from the VA. The VA Certificate of Eligibility must be present in your loan application when it is turned into the underwriter who will underwrite and approve your loan based on VA guidelines.  In the event that you need help locating your Certificate of Eligibility, your loan officer should be able to help you obtain it.

Colorado VA Loan Experts: Contact Us

If you have any questions about Colorado VA loans, we are your Colorado VA loan experts and are happy to answer any questions that you may have regarding VA loans.