Received PCS orders to Schriever Space Force Base? You can most often purchase your new Colorado home with zero down payment using your VA home loan benefits.
If you’re transferring to Schriever Space Force Base in Colorado, one of your first decisions will be where to live.
Schriever is located east of Colorado Springs, making the surrounding communities of Falcon, Peyton, and eastern Colorado Springs attractive locations to investigate when purchasing a home.
For active-duty military personnel and veterans, VA financing offers several advantages that can make purchasing a Colorado home easier and more affordable.
At Front Range Mortgage, LLC, we specialize in Colorado VA home loans and help military families purchase homes throughout the state, including buyers relocating from other military installations.
Whether you’re transferring from another Space Force installation, an Air Force base, or an overseas assignment, we can help you begin the mortgage process before you arrive.
Can You Buy a Home Near Schriever Space Force Base with Zero Down Payment?
Yes. Eligible military borrowers with sufficient VA entitlement can purchase a qualifying primary residence with zero down payment.
VA financing offers several important advantages:
- Zero down payment: Qualified borrowers may finance 100% of the purchase price.
- No monthly mortgage insurance: VA loans do not require PMI or FHA-style monthly mortgage insurance.
- Competitive interest rates: VA loans frequently offer lower rates compared with conventional financing.
- Seller-paid closing costs: VA guidelines permit sellers to pay allowable closing costs (including escrows).
- Reusable benefits: Eligible borrowers may use their VA mortgage benefits more than once.
These benefits can be especially valuable during a PCS relocation, when preserving cash for moving expenses and household needs may be a priority.
Example: Purchasing a $500,000 Colorado Home
Consider a hypothetical VA purchase:
| Purchase Details | Amount |
|---|---|
| Purchase price | $500,000 |
| Down payment | $0 |
| Base VA mortgage | $500,000 |
| Monthly mortgage insurance | $0 |
This example assumes sufficient VA entitlement, acceptable property value, and lender approval. An applicable VA funding fee may increase the total financed amount.
For eligible borrowers, VA financing can eliminate the need to accumulate a substantial down payment before purchasing.
Where Should You Buy a Home Near Schriever Space Force Base?
Because Schriever is located east of Colorado Springs, your preferred neighborhood may differ from that of someone stationed at Fort Carson or Peterson Space Force Base.
Several communities are worth investigating.
Falcon, Colorado
Falcon is located northeast of Schriever and offers residential neighborhoods, shopping, and access to eastern El Paso County.
Military buyers considering Falcon should investigate their actual commuting route to Schriever, as driving distance and travel times vary by neighborhood.
Peyton, Colorado
Peyton and the surrounding eastern El Paso County area offer additional housing choices, including properties with larger lots.
Buyers considering acreage should pay particular attention to property access, water sources, wells, septic systems, and maintenance requirements.
Eastern Colorado Springs
Eastern Colorado Springs offers a variety of established and newer neighborhoods, with access to shopping, schools, restaurants, and other amenities.
Some buyers prefer this area because it provides access to more of Colorado Springs while remaining within commuting distance of Schriever.
Security-Widefield and Southern Colorado Springs
These areas may also be worth considering, although commute times to Schriever can be longer.
Our recommendation: Before purchasing, test your commute to the installation during the hours you expect to travel.
A property that looks close on a map may have a considerably different commute during peak traffic periods.
Can You Get VA Mortgage Preapproval Before Your PCS Move?
Yes. You can generally begin the VA mortgage process before arriving in Colorado.
You do not need to wait until your household goods arrive or until you report to Schriever.
Many military borrowers begin their mortgage applications while stationed in another state.
Front Range Mortgage can help you review your financial qualifications remotely.
Documents commonly requested include:
- PCS orders or assignment documentation.
- Recent Leave and Earnings Statements (LES).
- VA Certificate of Eligibility (COE).
- Information regarding current mortgages.
- Bank statements and supporting financial documentation.
- Credit authorization when you’re ready to proceed.
We can help determine your approximate qualifying purchase price and estimated mortgage payment before you begin shopping.
Can You Use Military BAH to Qualify for Your VA Mortgage?
Yes. Basic Allowance for Housing (BAH) can generally be counted as qualifying income for a VA home loan when properly documented.
Your qualifying income may include:
- Military base pay.
- Basic Allowance for Housing.
- Basic Allowance for Subsistence.
- Other eligible military compensation.
Because BAH and BAS are generally nontaxable, applicable VA underwriting rules may permit qualifying adjustments to certain nontaxable income.
Your lender must verify the income and its expected continuance.
What If Your BAH Changes When You Transfer?
Your housing allowance may change when you transfer to Schriever.
Your mortgage preapproval should account for your anticipated qualifying income at the new duty station, subject to appropriate documentation.
This is particularly important when purchasing before your reporting date.
Can You Keep Your Existing VA Mortgage and Buy Another Home Near Schriever?
Yes. Depending on your remaining VA entitlement and financial qualifications, you may be able to retain your existing VA-financed home and purchase another primary residence in Colorado.
For example, suppose you currently own a home near your previous military installation.
You receive PCS orders to Schriever and would prefer to keep that property as a rental.
You may be able to use your remaining VA entitlement to finance a new Colorado home.
However, the amount of remaining entitlement can affect whether a down payment is required.
Your lender must also consider the existing mortgage payment, qualifying rental income, and other obligations.
Front Range Mortgage can calculate your available VA entitlement before you begin your Colorado home search.
Can the Seller Pay Your VA Closing Costs?
Yes. VA mortgages offer considerable flexibility regarding seller-paid closing costs.
A common misconception is that sellers can pay only 4% of the purchase price toward the buyer’s expenses.
VA rules distinguish between ordinary closing costs and certain additional seller concessions.
Allowable ordinary closing costs generally do not count toward the separate 4% seller-concession limitation.
Certain additional benefits, such as payment of the VA funding fee or qualifying borrower debts, may count toward that limit.
With appropriate contract negotiations, some borrowers may be able to purchase with very little cash required at closing.
Seller credits must comply with VA and lender requirements and cannot exceed the applicable eligible expenses.
What About Purchasing a Home with Acreage Near Peyton or Falcon?
Some buyers stationed at Schriever prefer properties with larger lots or acreage.
VA financing can be available for qualifying properties with acreage, provided the property meets applicable VA and lender requirements.
However, these properties may involve additional considerations.
For example:
- Private wells and water quality.
- Septic systems.
- Property access and road maintenance.
- Outbuildings and property improvements.
- Appraisal comparables.
- Property condition and marketability.
VA loans are intended for residential properties, and the property’s characteristics must be acceptable under applicable underwriting and appraisal standards.
Before making an offer on an unusual property, discuss its features with your mortgage professional.
How Long Does a VA Mortgage Take to Close?
VA mortgages can often close within timeframes comparable to conventional loans.
At Front Range Mortgage, we generally target purchase closings within approximately 25–30 days, depending on appraisal, underwriting, title, and other transaction requirements.
The process typically includes:
- Initial mortgage consultation.
- Income and credit review.
- VA entitlement verification.
- Mortgage preapproval.
- Accepted purchase contract.
- VA appraisal and underwriting.
- Final approval and closing.
Military buyers transferring to Colorado can often complete substantial portions of this process remotely.
Why Choose Front Range Mortgage?
Front Range Mortgage, LLC is a Colorado mortgage brokerage specializing in VA home loans.
We help active-duty service members and veterans throughout Colorado understand their mortgage options.
Our services include:
- VA purchase loans with zero-down options.
- Military BAH qualification analysis.
- Second VA mortgage and remaining-entitlement calculations.
- VA funding fee exemption reviews.
- Seller-paid closing-cost strategies.
- Remote preapproval for incoming PCS buyers.
- Personalized mortgage rate and closing-cost comparisons.
We understand that military buyers often need to coordinate their home purchase with reporting dates, household moves, and existing housing obligations.
Our goal is to help you make an informed decision and complete your Colorado purchase as efficiently as possible.
Frequently Asked Questions
- Do I need to be stationed at Schriever to use a VA loan nearby?
- No. Eligible veterans and service members can use VA financing to purchase qualifying primary residences in Colorado, regardless of whether they are assigned to Schriever.
- Can I purchase a home before arriving in Colorado?
- Yes, potentially. You can begin the application process remotely, although VA occupancy requirements and closing arrangements must be satisfied.
- Can I purchase a home with zero down payment?
- Yes, if you have sufficient VA entitlement and meet applicable underwriting and property requirements.
- Can I buy a home with acreage using a VA loan?
- Potentially. The property must meet VA residential property requirements and applicable lender guidelines.
- Can I keep my current home when transferring to Schriever?
- Yes, in certain circumstances. Your remaining VA entitlement, existing debts, and qualifying income will determine your options.
PCS Orders to Schriever? Start Your Colorado VA Mortgage Preapproval.
If you’re transferring to Schriever Space Force Base, Front Range Mortgage can help you explore your VA financing options before you arrive.
We can help determine:
- Your qualifying purchase price.
- Whether you qualify for zero down payment.
- Your estimated monthly mortgage payment.
- Your remaining VA entitlement.
- Whether you can retain your existing home.
- Your estimated closing costs.
Front Range Mortgage, LLC – Colorado VA Mortgage Specialists
Contact us today to discuss your Colorado home purchase. In Denver call (303) 500-1900. In Colorado Springs call (719) 540-2020.
All financing is subject to borrower qualification, VA eligibility, property requirements, and lender approval. Zero-down financing is not available in every circumstance. Examples are hypothetical and are not commitments to lend.
