AskScott Synovic.

09Guide · 5 min read

A large share of home buyers in Colorado Springs, Fountain, Monument and Falcon arrive with orders in hand and a report date on the calendar. The VA loan is built for exactly that — $0 down, no monthly mortgage insurance, and entitlement that can be used again and again. Here is how to make it move at military speed.

Start before you land

Pre-approval works from anywhere. Scott pulls your Certificate of Eligibility electronically, reviews your LES and allowances, and issues a letter so you can write an offer on the house-hunting trip instead of after it.

BAH counts

Basic Allowance for Housing and other non-taxable allowances generally count as qualifying income, and some programs allow them to be grossed up because they are not taxed. That often makes the payment fit better than a quick online calculator suggests.

Entitlement, used again

Already used a VA loan at a previous duty station? Entitlement is restored once that loan is paid off, and many service members have enough remaining entitlement to buy again even while the old home is still rented out. Scott checks the actual number, not the rumor.

The funding fee, explained honestly

The VA funding fee is a one-time charge that can be financed into the loan. It is reduced for a down payment and waived entirely for veterans receiving VA disability compensation and some surviving spouses. Scott confirms your status before quoting cash to close.

Closing on a clock

VA loans close on the same timelines as conventional loans in experienced hands — the outdated reputation comes from lenders who do not do many of them. Scott sets a realistic closing date on offer day and calls the listing agent so your VA offer is understood, not discounted.

Metro districts, hail and the payment

Two Colorado-specific items change a Pikes Peak payment: metropolitan-district taxes in newer neighborhoods, and hail-zone homeowners insurance. Scott runs both for any address so the number you plan around is the number you get.

Scott · Loan Officer
PCSing to Carson in 6 weeks. Can we actually close before I report?
Usually, yes. Get me your COE info and LES this week, we pre-approve from where you are now, and you write on the house-hunting trip. Six weeks is workable if the documents are fast. 🪖

Quick answers

Can I buy a home before I arrive at my new duty station in Colorado?

Yes. Pre-approval can be completed remotely, and many service members write an offer during the house-hunting trip. The VA requires the home to be your primary residence, generally occupied within 60 days of closing, with allowances for deployment.

Does the VA funding fee apply to everyone?

No. The funding fee is waived for veterans receiving VA disability compensation, certain surviving spouses, and some Purple Heart recipients on active duty. It is also reduced with a down payment and can be financed into the loan.

Is a VA loan harder to get accepted in a multiple-offer situation?

Not when the lender communicates. Scott calls the listing agent with every offer to explain the file, and VA loans close on the same timelines as conventional loans when the lender does them regularly.

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