Received PCS orders to Peterson Space Force Base in Colorado Springs? You may be able to purchase your new Colorado home with zero down payment using your VA home loan benefits—even before arriving at your new duty station.
A Permanent Change of Station (PCS) move brings plenty of decisions. Where will your family live? Should you rent or buy? Can you qualify for a mortgage before reporting for duty? And what happens if you already own a home at your current military installation?
For active-duty Air Force and Space Force personnel transferring to Peterson Space Force Base (Peterson SFB), understanding your VA home loan benefits can make the relocation process considerably easier.
At Front Range Mortgage, LLC, VA mortgages are our specialty. We help military families purchase homes throughout Colorado, including buyers relocating from other states and overseas assignments.
Here’s what you should know before buying a home near Peterson Space Force Base.
1. Where Is Peterson Space Force Base Located?
Peterson Space Force Base is located on the eastern side of Colorado Springs, adjacent to the Colorado Springs Airport. The installation supports important military operations, including organizations associated with the U.S. Space Force, North American Aerospace Defense Command (NORAD), and U.S. Northern Command.
Because Peterson is located on the eastern side of Colorado Springs, military families have numerous housing options in nearby communities.
- Eastern Colorado Springs: Established and newer residential neighborhoods with access to major roadways and shopping.
- Powers Corridor: A major north-south corridor with shopping, restaurants, and residential communities.
- Cimarron Hills: An established community east of central Colorado Springs.
- Falcon: A growing community northeast of Colorado Springs with additional suburban housing options.
- Security-Widefield: Residential neighborhoods south of Colorado Springs that may appeal to buyers willing to consider different commuting routes.
Your ideal location will depend on your budget, desired home features, and commuting preferences. Tip: Evaluate the actual driving route to your assigned Peterson gate during your expected commuting hours.
2. Can You Buy a Colorado Home Before Arriving at Peterson Space Force Base?
Yes. Military personnel can generally begin the VA mortgage application and preapproval process before arriving in Colorado. You do not have to wait until your PCS move is complete.
For example, you might currently be stationed at Joint Base San Antonio, Vandenberg Space Force Base, Patrick Space Force Base, Joint Base Lewis-McChord, or an overseas military installation. You can begin working with a Colorado mortgage professional while still stationed elsewhere.
What Documents Will You Need?
- PCS orders documenting your new assignment.
- Recent Leave and Earnings Statements (LES).
- VA Certificate of Eligibility (COE).
- Existing mortgage information, if applicable.
- Bank statements and other financial documentation.
- Credit information to review debts and qualifications.
If i doubt – don’t worry we will work with you to get everything ! Front Range Mortgage can help begin the process remotely (easier to avoid problems than have to fix them afterwards)!
3. Can You Purchase a Home with Zero Down Payment?
Yes. Eligible borrowers with sufficient VA entitlement may purchase a qualifying primary residence with no down payment. Unlike many conventional programs, VA financing may allow qualified buyers to finance the entire purchase price.
Example: Purchasing a $500,000 Home Near Peterson
| Purchase Details | VA Loan Example |
| Purchase price | $500,000 |
| Down payment | $0 |
| Base VA mortgage | $500,000 |
| Monthly mortgage insurance | $0 |
This hypothetical example assumes sufficient VA entitlement, acceptable property value, and lender approval. An applicable VA funding fee may increase the financed loan amount.
Additional VA Mortgage Benefits
- No monthly mortgage insurance.
- Competitive interest rates (recently much lower than FHA or Conventional).
- VA can work with lower FICO and higher debts than most conventional programs.
- Seller-paid allowable closing costs and certain concessions.
- Reusable VA benefits, subject to eligibility and entitlement.
4. Can You Use Your Military BAH to Qualify for a VA Mortgage?
Yes. Basic Allowance for Housing (BAH) can generally be included as qualifying income when properly documented. A lender may consider base pay, BAH, Basic Allowance for Subsistence (BAS), and other qualifying military compensation. Certain nontaxable income may receive adjustments under applicable VA underwriting rules.
What If Your BAH Changes When You Transfer?
Your BAH may change based on duty location, pay grade, and dependent status. Your mortgage professional should review the new assignment and anticipated compensation to establish appropriate qualifying income, especially if you plan to buy before reporting.
5. Can You Keep Your Existing Home and Obtain Another VA Mortgage?
Yes, in certain circumstances. You may retain an existing VA-financed home and obtain another VA mortgage to buy your new primary residence in Colorado. You are not necessarily limited to one VA mortgage at a time.
Example: Transferring from Texas to Peterson Space Force Base
Suppose you bought a home near Joint Base San Antonio with VA benefits and receive PCS orders to Peterson. You may wish to retain the Texas home as a rental. Depending on remaining entitlement and financial qualifications, you may be able to buy a Colorado primary residence using another VA loan.
Will You Need a Down Payment?
- Entitlement charged to the existing mortgage.
- Remaining available VA entitlement.
- Applicable county loan limit for remaining-entitlement calculations.
- New purchase price.
- Income and debt qualifications.
Some borrowers can obtain a second VA mortgage with zero down payment; others may need a partial down payment. Front Range Mortgage can calculate available entitlement before your home search. I am happy to go over with your actual figures to make it easy!
6. Can You Close on Your Colorado Home Before Your PCS Reporting Date?
Often, yes, if the transaction meets VA occupancy requirements. VA loans finance primary residences. Occupancy within 60 days is ordinarily considered reasonable, though certain circumstances permit delayed occupancy. Occupancy by a spouse or dependent child may satisfy the requirement under applicable rules.
Review your reporting date, expected arrival, family occupancy plans, closing date, and VA requirements with your lender before signing a purchase contract.
7. Can the Seller Pay Your VA Closing Costs?
Yes. VA guidelines distinguish ordinary closing costs from certain additional seller concessions. Allowable ordinary closing costs generally do not count toward the separate 4% seller-concession limitation. Some other benefits, such as paying a VA funding fee or certain borrower debts, may count toward it.
Example: Seller-Paid Closing Costs
For a hypothetical $500,000 purchase with $12,000 in estimated eligible closing costs and prepaid expenses, a seller credit covering those expenses can allow you to close bringing $0 to the closing table! Glad to work these up for you personally.
8. Should You Rent or Buy When Transferring to Peterson?
The right decision depends on assignment duration, finances, and long-term plans. Buying may build equity and provide predictable principal-and-interest payments on a fixed-rate loan. However, taxes, insurance, maintenance, and HOA dues may rise; values can fall; and selling involves transaction costs.
What If You Receive PCS Orders Again in Three Years?
- Sell the Colorado home.
- Retain it as a rental if financially and practically feasible.
- Explore another VA loan using remaining or restored entitlement.
Compare estimated ownership costs with your housing budget and expected length of stay.
9. How Long Does It Take to Close a VA Mortgage in Colorado?
VA mortgages can often close within timelines comparable to conventional loans. Front Range Mortgage generally targets purchase closings of approximately 25–30 days, depending on appraisal, underwriting, title, and transaction requirements.
- Initial mortgage consultation.
- Military income and credit review.
- VA eligibility and entitlement verification.
- Mortgage preapproval.
- Home search and accepted purchase contract.
- VA appraisal and underwriting.
- Final approval and closing.
Starting before your PCS move can help reduce relocation-related delays; much of the process may be handled remotely.
10. Why Choose Front Range Mortgage for Your Peterson VA Home Loan?
Front Range Mortgage, LLC is a Colorado mortgage brokerage specializing in VA home loans. Our team has more than 35 years of mortgage experience and has helped thousands of Colorado veterans and military families with their financing needs.
- VA purchase financing with zero-down options.
- Remote preapproval for incoming PCS buyers.
- Military BAH and income qualification analysis.
- Second VA mortgage and remaining-entitlement calculations.
- VA funding fee exemption reviews.
- Seller-paid closing-cost strategies.
- Personalized mortgage rate and closing-cost comparisons.
- Colorado-specific mortgage expertise.
As a Colorado-focused mortgage company, we understand PCS reporting dates, existing mortgages, and qualifying military income.
Frequently Asked Questions About Peterson Space Force Base VA Home Loans
Can I get preapproved before receiving my final PCS orders?
Potentially. Preliminary preapproval may be available using current financial qualifications; final underwriting may require new assignment and income documentation.
- Do I need a down payment to buy near Peterson?
- No, in most cases. Eligible VA borrowers with sufficient entitlement can regularly qualify for zero-down financing. We can even get you in your second VA mortgage with 0 down (in some cases)!
- Can my spouse move into our Colorado home before I arrive?
- Yes, in qualifying circumstances under applicable VA occupancy rules.
- Can I keep my existing VA-financed home?
- Potentially, subject to remaining entitlement and financial qualifications.
- Do I have to be assigned to Peterson to use a VA loan in Colorado Springs?
- Not at all. Eligible veterans and service members may buy qualifying primary residences in Colorado regardless of assignment to Peterson.
- Can I purchase a home while stationed overseas?
- Potentially. Remote application and closing may be available, subject to occupancy, lender, and closing requirements.
PCS Orders to Peterson Space Force Base? Start Your Colorado VA Mortgage Preapproval Today.
If you’re transferring to Peterson Space Force Base, you don’t have to wait until you arrive in Colorado to explore your VA mortgage options.
Front Range Mortgage, LLC Colorado VA Home Loan Specialists
- Your maximum qualifying purchase price.
- Whether you qualify for zero down payment.
- How your new BAH affects purchasing power.
- Whether you can retain your existing VA-financed home.
- Estimated monthly payment and closing costs.
- Options for closing before or after your PCS move.
Contact Front Range Mortgage today for a personalized Colorado VA mortgage consultation. Visit www.FrontRangeMortgage.com to get started.
VA mortgage eligibility, approval, rates, and terms are subject to VA requirements, lender underwriting, property eligibility, and borrower qualifications. Zero-down financing is not available in every circumstance. Examples are hypothetical and do not constitute commitments to lend.
Call, text or email me and my local Colorado-only team to help get you into your new Colorado home!
Cordially,
Brian G. Murphy
Manager / Senior Mortgage Planner
Front Range Mortgage, LLC
NMLS #378844 / CO MLO #MB100020928
(719) 540-2020 Colorado Springs
(303) 524-9907 Denver
(970) 283-3500 Ft. Collins
