Colorado Mortgage Loans
VA, FHA, DSCR & More

Colorado is one of the nation’s most structurally diverse mortgage markets — and one of the most important to understand by county before you make an offer. The Denver metro operates at a $862,500 conforming limit, Boulder County at $879,750, while the ski resort counties of Eagle (Vail), Pitkin (Aspen), Summit (Breckenridge), and Garfield hit the national ceiling of $1,209,750. Getting the wrong county limit wrong can push a buyer into jumbo pricing unnecessarily.

Colorado Springs anchors one of the most VA-active markets in the Mountain West — home to Fort Carson, Peterson Space Force Base, Schriever SFB, and the Air Force Academy. With over 430,000 veterans statewide, VA loan volume is substantial. As a retired Army Captain, I understand what military families need in this market.

CHFA (Colorado Housing and Finance Authority) offers the state’s primary first-time buyer programs — including up to $25,000 in down payment assistance as either a forgivable grant or 0% interest deferred second mortgage. Boulder’s college rental market, Denver’s tech-driven long-term rentals, and the ski towns’ short-term vacation rental demand make Colorado one of the strongest DSCR states in the country.

VA Home Loans

$0 down, no PMI, no county limits for full entitlement. Serving Fort Carson, Peterson SFB, Buckley SFB, Schriever SFB, and the Air Force Academy. VA Cash-Out fully available. CHFA SmartStep allows VA loan stacking with Colorado’s DPA programs.

FHA Loans

3.5% down with 580+ credit. Pairs with CHFA FirstStep for maximum down payment assistance. FHA limits vary significantly by county — from $541,287 in rural counties to $1,249,125 in Eagle (Vail), Pitkin (Aspen), and Summit (Breckenridge).

Conventional Loans

As low as 3% down. Denver metro ($862,500), Boulder ($879,750), and ski country ($1,209,750) high-balance limits provide significant buying power without jumbo pricing. CHFA Preferred reduces PMI costs. Critical to verify your county limit before writing an offer.

First-Time Homebuyer

CHFA programs provide up to $25,000 in DPA (grant or 0% deferred second mortgage). Denver Metro Mortgage Assistance Plus offers up to 4% DPA for Denver city buyers. CHFA FirstGeneration program available for first-generation buyers. All require 620+ credit and a homebuyer education course.

Construction Loans

One-time close construction-to-permanent loans lock your rate from day one. Active custom home markets in Parker, Castle Rock, Monument, and Black Forest. VA construction available for eligible veterans. Colorado’s material and labor costs make rate-lock construction loans especially valuable.

Cash-Out Refinance

No state-level LTV cap in Colorado. Conventional cash-out up to 80% LTV on primary residences, 75% on investments. VA Cash-Out fully available. Colorado homeowners in appreciating Denver and ski-country markets often have substantial equity to access.

DSCR Investor Loans

Qualify on rental income — no tax returns or W-2s. Denver’s tech/healthcare sector drives strong long-term rentals. Boulder and Fort Collins benefit from CU and CSU university tenant demand. Vail, Breckenridge, and Steamboat Springs generate exceptional short-term rental income. LLC closings available.

For Colorado Veterans

The Full Story on Colorado VA Loans

Colorado Springs is arguably the most militarily concentrated metro in the Mountain West — home to Fort Carson, Peterson Space Force Base, Schriever Space Force Base, Buckley Space Force Base in Aurora, and the United States Air Force Academy. Over 430,000 veterans call Colorado home. As a retired Army Captain, I’ve helped military families navigate PCS moves, deployment timelines, and BAH situations that most lenders aren’t equipped to handle.

• ✓ Zero down payment in all 64 Colorado counties — including Denver, Boulder, and Vail — with full entitlement
• ✓ No private mortgage insurance — meaningful savings in Colorado’s above-average price market
• ✓ VA Cash-Out Refinances fully available in Colorado — no state restrictions
• ✓ CHFA SmartStep allows VA loans to pair with Colorado’s down payment assistance programs
• ✓ CO installations: Fort Carson (Colorado Springs), Peterson SFB, Buckley SFB (Aurora), Schriever SFB, US Air Force Academy

The Colorado Housing and Finance Authority (CHFA) is Colorado’s primary first-time homebuyer resource — and one of the more flexible state programs in the country. CHFA offers multiple loan products (FHA, conventional, VA, USDA) paired with down payment assistance up to the lesser of $25,000 or 3–4% of the first mortgage. Assistance comes in two forms: a non-repayable grant (up to 3%) or a 0% interest deferred second mortgage (up to 4%, repaid on sale or refinance).

CHFA’s FirstGeneration program extends the same DPA to buyers who are the first in their family to own a home. The HomeAccess program provides up to $25,000 for first-time buyers or veterans with a permanent disability. The SmartStep program is particularly strong for veterans — it allows VA loans to pair with CHFA’s DPA structure, something most lenders don’t know how to execute.

Denver additionally offers the Metro Mortgage Assistance Plus Program (up to 4% DPA for Denver city buyers) and Colorado’s First-Time Homebuyer Savings Account allows buyers to save up to $50,000 with earnings exempt from state income taxes when used for down payment or closing costs.

“PCS from Germany with a 45-day window. Adam’s team knew the Colorado Springs market cold — Fort Carson neighborhood comps, base housing timeline overlap, the whole picture. VA loan, zero down on a $485,000 home in Fountain. Closed on day 41. Veteran to veteran, this is exactly what military families deserve in a lender. No explaining, no hand-holding, just execution.”

“Denver felt impossible as first-time buyers. We were $20K short on the down payment and our income was right at the limit for assistance programs. Adam’s team mapped the CHFA grant alongside our FHA loan and found the combination that worked. We brought $4,100 to closing on a $475,000 home in Arvada. The $18,000 CHFA assistance doesn’t have to be repaid as long as we keep the loan. Nobody at our bank mentioned this program once.”

“We acquired two Breckenridge short-term rental properties using DSCR loans — no W-2s, no tax returns, qualified entirely on projected rental income. Summit County’s vacation rental market is extraordinary in both winter and summer seasons. Closed through our LLC. Adam’s team understood the Summit County $1,209,750 conforming limit, which kept us out of jumbo pricing on both deals. We’re looking at Steamboat next.”

Colorado’s largest market. Conforming limit: $862,500 — $30,000 above baseline, keeping many buyers out of jumbo pricing. Tech, healthcare, and finance drive strong employment. CHFA and Metro DPA programs available. Strong long-term rental DSCR demand from tech workers.

The most military-concentrated metro in the Mountain West. Fort Carson, Peterson SFB, Schriever SFB, and the Air Force Academy drive the nation’s highest VA loan volume per capita in its price tier. Median ~$460K with strong appreciation. More affordable than Denver with CHFA DPA available.

Colorado’s most expensive metro per square foot. Conforming limit: $879,750 — the highest in the Denver metro region. University of Colorado drives consistent rental demand for DSCR investors. Tech and biotech employment. Strong appreciation history despite high entry prices.

Consistently ranked one of America’s best places to live. Colorado State University drives stable long-term rental demand. More affordable than Boulder with baseline $832,750 limit. CHFA programs available. Growing tech corridor between Denver and the Wyoming border.

County Limit Check

No credit pull. Before anything else, we confirm your target county’s exact 2026 limit — Denver, Boulder, Summit, or baseline. This one step determines whether you’re looking at conforming, high-balance, or jumbo financing.

CHFA & DPA Screening

We map which Colorado state and local programs you qualify for — grant vs. second mortgage, SmartStep for VA, FirstGeneration if applicable — before we submit to any lender.

Lender Shopping

Multiple CO-approved lenders, rates compared side by side, best combination identified. You decide — we execute with full program stacking in place.

Dedicated Processing

Same processor from application to close. Military buyers on PCS timelines get military-speed processing. Colorado Springs buyers near installation housing expiration windows — we understand the clock.

Close & Annual Review

On-schedule, on-budget Colorado closings. Post-close annual review ensures your mortgage still serves your goals as Colorado’s multi-tier market continues to evolve.

What are the 2026 conforming loan limits in Colorado?

Colorado has four distinct tiers for 2026. The Denver metro (Denver, Adams, Arapahoe, Broomfield, Douglas, Jefferson) is $862,500. Boulder County is $879,750. Eagle (Vail), Pitkin (Aspen), Summit (Breckenridge), and Garfield counties reach $1,209,750 — the national ceiling. Most other counties including Colorado Springs (El Paso), Fort Collins (Larimer), and Pueblo use the baseline $832,750. This variation is unique in the West and critical to understand before writing an offer.

What CHFA programs are available for Colorado first-time buyers?

CHFA’s down payment assistance comes in two forms: a non-repayable grant (up to 3% of the mortgage, max $25,000) available with SmartStep loans, or a 0% interest deferred second mortgage (up to 4%, max $25,000) repaid only on sale or refinance. Programs pair with FHA, conventional, VA, or USDA first mortgages. All require 620+ credit and a CHFA homebuyer education course. CHFA FirstGeneration and SmartStep VA are particularly powerful for first-generation buyers and military families.

Can Colorado veterans use VA loans with no down payment?

Yes. Veterans with full entitlement can purchase any home in all 64 Colorado counties with zero down — including in Denver, Boulder, and the ski resort towns — regardless of price. Colorado Springs is one of the most VA-active markets in the Mountain West, anchored by Fort Carson, Peterson SFB, Schriever SFB, and the Air Force Academy. CHFA SmartStep also allows VA loans to pair with Colorado’s DPA structure for buyers who need closing cost assistance.

What is a DSCR loan and how does it work for Colorado investors?

A DSCR loan qualifies on rental income the property generates — not your personal tax returns or W-2s. Denver’s tech and healthcare employment creates consistent long-term rental demand. Summit County (Breckenridge, Keystone, Frisco) and Eagle County (Vail, Avon) generate exceptional short-term rental income year-round. Boulder and Fort Collins benefit from university-driven tenant bases. Available for individuals and LLCs. The $1,209,750 conforming limit in ski counties keeps most DSCR deals below jumbo threshold.

Is there a cash-out refinance restriction in Colorado?

No. Colorado has no state-level LTV cap on cash-out refinances — unlike Texas where an 80% constitutional restriction applies. Conventional cash-out allows up to 80% LTV on primary residences and 75% on investment properties. VA Cash-Out Refinances are fully available. Colorado homeowners in Denver and the ski counties have often accumulated substantial equity and regularly use cash-out for renovations, investments, or debt consolidation.

Do you require an upfront credit check to get started?

No. We start with a strategy conversation — goals, timeline, income picture, county target, and which Colorado programs you may qualify for. You’ll know exactly where you stand before we ever pull credit. No pressure, no hard inquiry until you’re ready to formally move forward.

About the Author

Adam Bartling

Army Veteran • Mortgage Loan Officer • NMLS #2213358

As a retired Army Captain and veteran-owned mortgage broker, I help Colorado homebuyers, veterans, and investors navigate one of the most structurally complex mortgage markets in the country. Getting your county’s loan limit right, stacking CHFA programs correctly, and closing on military timelines — these are skills that matter here. My team shops multiple lenders to find the best rate and structure for your specific county and situation.

Residential loans $85K–$5M • Commercial loans $1M–$10M • Serving Texas & 30+ States