Colorado Springs VA Loan Rates, Closing Costs & Stats
COLORADO SPRINGS, CO
A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.
The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.
For additional benefits of VA loans, click here.
Colorado Springs's 204 lenders originated 7,892 VA loans during 2022. The total origination value was $3,646,340,000, with an average VA loan value of $462,030.
Colorado Springs VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Colorado Springs
averaged
-0.48%
for the week of 2023-06-02, compared to the national average (all VA variants) of
0% for the same period.
Colorado Springs's average VA mortgage closing costs are $6,860.
The average rate for the prior week (2023-05-26) was
6.15% and
one month ago for the week of 2023-04-28, the
average rate was 5.61%.
The average rate one year ago was 4.46%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.47%.
Colorado Springs VA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Colorado Springs level.
The top Colorado Springs VA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
1,267 VA loans originated. Their average total fees are
$9,816, which is $786
lower than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Colorado Springs VA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($5,422), UNION HOME MORTGAGE CORP. ($6,269), The Huntington National Bank ($6,445), CHERRY CREEK MORTGAGE, LLC ($7,950) and GUARANTEED RATE AFFINITY, LLC ($8,547).
The lowest rate Colorado Springs VA lenders (with over 10 loans originated) are
UNION HOME MORTGAGE CORP. (3.16%), LAKEVIEW LOAN SERVICING, LLC (3.22%), PENNYMAC LOAN SERVICES, LLC (3.35%), Financial Funding Solutions, Inc. (3.41%) and PENTAGON FEDERAL CREDIT UNION (3.52%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Colorado Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
|---|---|---|---|---|
| 2018-01-01 | $388,187 (11.9%) | $486,036 (6.5%) | 1.44 | 1,309 |
| 2018-02-01 | $397,450 (11.7%) | $500,971 (6.4%) | 1.44 | 1,235 |
| 2018-03-01 | $411,850 (10.9%) | $516,326 (8.9%) | 1.45 | 1,313 |
| 2018-04-01 | $400,163 (8.2%) | $504,855 (6.2%) | 1.36 | 1,504 |
| 2018-05-01 | $390,060 (3.7%) | $495,851 (5.1%) | 1.30 | 1,677 |
| 2018-06-01 | $384,975 (4.5%) | $522,832 (13.2%) | 1.28 | 2,055 |
| 2018-07-01 | $374,083 (2.5%) | $490,802 (6.7%) | 1.25 | 2,329 |
| 2018-08-01 | $365,276 (2.2%) | $462,377 (0.9%) | 1.22 | 2,465 |
| 2018-09-01 | $364,900 (0.0%) | $459,296 (-0.6%) | 1.23 | 2,448 |
| 2018-10-01 | $367,748 (0.3%) | $464,228 (-0.8%) | 1.25 | 2,413 |
| 2018-11-01 | $368,871 (-0.3%) | $466,477 (-3.3%) | 1.25 | 2,334 |
| 2018-12-01 | $375,000 (-1.2%) | $475,012 (-2.0%) | 1.29 | 1,923 |
| 2019-01-01 | $382,475 (-1.5%) | $478,212 (-1.6%) | 1.32 | 1,638 |
| 2019-02-01 | $389,946 (-1.9%) | $484,903 (-3.2%) | 1.32 | 1,558 |
| 2019-03-01 | $397,100 (-3.6%) | $496,291 (-3.9%) | 1.30 | 1,523 |
| 2019-04-01 | $399,900 (-0.1%) | $501,819 (-0.6%) | 1.27 | 1,574 |
| 2019-05-01 | $417,450 (7.0%) | $519,650 (4.8%) | 1.30 | 1,677 |
| 2019-06-01 | $419,000 (8.8%) | $519,168 (-0.7%) | 1.31 | 1,948 |
| 2019-07-01 | $416,750 (11.4%) | $516,421 (5.2%) | 1.30 | 2,157 |
| 2019-08-01 | $412,682 (13.0%) | $513,892 (11.1%) | 1.31 | 2,127 |
| 2019-09-01 | $409,205 (12.1%) | $513,424 (11.8%) | 1.31 | 2,062 |
| 2019-10-01 | $411,136 (11.8%) | $513,736 (10.7%) | 1.33 | 2,010 |
| 2019-11-01 | $420,000 (13.9%) | $524,080 (12.4%) | 1.38 | 1,738 |
| 2019-12-01 | $424,830 (13.3%) | $531,509 (11.9%) | 1.42 | 1,449 |
| 2020-01-01 | $425,000 (11.1%) | $534,515 (11.8%) | 1.42 | 1,222 |
| 2020-02-01 | $445,000 (14.1%) | $559,799 (15.5%) | 1.46 | 1,059 |
| 2020-03-01 | $445,520 (12.2%) | $558,616 (12.6%) | 1.40 | 1,164 |
| 2020-04-01 | $449,558 (12.4%) | $556,576 (10.9%) | 1.41 | 1,275 |
| 2020-05-01 | $457,400 (9.6%) | $557,583 (7.3%) | 1.39 | 1,488 |
| 2020-06-01 | $461,038 (10.0%) | $562,367 (8.3%) | 1.36 | 1,473 |
| 2020-07-01 | $457,500 (9.8%) | $572,922 (10.9%) | 1.33 | 1,395 |
| 2020-08-01 | $450,000 (9.0%) | $582,547 (13.4%) | 1.29 | 1,307 |
| 2020-09-01 | $435,000 (6.3%) | $571,837 (11.4%) | 1.25 | 1,171 |
| 2020-10-01 | $439,900 (7.0%) | $578,294 (12.6%) | 1.26 | 1,016 |
| 2020-11-01 | $453,550 (8.0%) | $607,460 (15.9%) | 1.33 | 780 |
| 2020-12-01 | $451,628 (6.3%) | $626,964 (18.0%) | 1.34 | 618 |
| 2021-01-01 | $450,785 (6.1%) | $630,450 (18.0%) | 1.35 | 491 |
| 2021-02-01 | $444,970 (0.0%) | $611,649 (9.3%) | 1.30 | 496 |
| 2021-03-01 | $435,000 (-2.4%) | $597,934 (7.0%) | 1.23 | 544 |
| 2021-04-01 | $454,648 (1.1%) | $616,939 (10.9%) | 1.23 | 609 |
| 2021-05-01 | $471,000 (3.0%) | $633,219 (13.6%) | 1.25 | 682 |
| 2021-06-01 | $476,500 (3.4%) | $660,036 (17.4%) | 1.25 | 814 |
| 2021-07-01 | $477,750 (4.4%) | $635,838 (11.0%) | 1.26 | 968 |
| 2021-08-01 | $477,225 (6.1%) | $634,835 (9.0%) | 1.27 | 1,041 |
| 2021-09-01 | $477,000 (9.7%) | $632,351 (10.6%) | 1.27 | 1,074 |
| 2021-10-01 | $484,692 (10.2%) | $648,087 (12.1%) | 1.29 | 1,109 |
| 2021-11-01 | $483,985 (6.7%) | $658,291 (8.4%) | 1.29 | 931 |
| 2021-12-01 | $484,781 (7.3%) | $672,558 (7.3%) | 1.31 | 736 |
| 2022-01-01 | $490,199 (8.7%) | $675,949 (7.2%) | 1.33 | 598 |
| 2022-02-01 | $482,396 (8.4%) | $676,728 (10.6%) | 1.25 | 588 |
| 2022-03-01 | $487,450 (12.1%) | $656,566 (9.8%) | 1.22 | 631 |
| 2022-04-01 | $515,000 (13.3%) | $670,542 (8.7%) | 1.23 | 771 |
| 2022-05-01 | $536,446 (13.9%) | $677,689 (7.0%) | 1.23 | 1,200 |
| 2022-06-01 | $537,450 (12.8%) | $671,719 (1.8%) | 1.20 | 1,703 |
| 2022-07-01 | $520,837 (9.0%) | $643,522 (1.2%) | 1.17 | 2,350 |
| 2022-08-01 | $517,450 (8.4%) | $634,939 (0.0%) | 1.20 | 2,534 |
| 2022-09-01 | $505,000 (5.9%) | $627,401 (-0.8%) | 1.18 | 2,419 |
| 2022-10-01 | $499,999 (3.2%) | $616,449 (-4.9%) | 1.18 | 2,461 |
| 2022-11-01 | $499,700 (3.3%) | $609,693 (-7.4%) | 1.20 | 2,318 |
| 2022-12-01 | $499,000 (2.9%) | $611,932 (-9.0%) | 1.23 | 1,937 |
| 2023-01-01 | $498,750 (1.7%) | $622,026 (-8.0%) | 1.24 | 1,562 |
| 2023-02-01 | $499,000 (3.4%) | $631,977 (-6.6%) | 1.21 | 1,376 |
| 2023-03-01 | $527,500 (8.2%) | $654,647 (-0.3%) | 1.24 | 1,270 |
| 2023-04-01 | $535,000 (3.9%) | $672,113 (0.2%) | 1.24 | 1,328 |
| 2023-05-01 | $550,000 (2.5%) | $692,591 (2.2%) | 1.25 | 1,468 |
Colorado Springs's median listing price comes in at 125% of the national average.
Colorado Springs's average listing price for 2023-05-01 was $692,591, a difference of $14,902 (2.2%) versus the prior year and $20,478 versus the prior month.
For the 2023-05-01 period, Colorado Springs had 1,468 MLS listings, a difference of 140 listings (11%) versus the prior month and 268 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Colorado Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 54 days | 3,063 sqft |
| 2018-02-01 | 43 days | 3,088 sqft |
| 2018-03-01 | 32 days | 3,112 sqft |
| 2018-04-01 | 26 days | 3,099 sqft |
| 2018-05-01 | 28 days | 3,007 sqft |
| 2018-06-01 | 26 days | 2,929 sqft |
| 2018-07-01 | 31 days | 2,827 sqft |
| 2018-08-01 | 37 days | 2,769 sqft |
| 2018-09-01 | 39 days | 2,774 sqft |
| 2018-10-01 | 45 days | 2,819 sqft |
| 2018-11-01 | 47 days | 2,839 sqft |
| 2018-12-01 | 61 days | 2,837 sqft |
| 2019-01-01 | 62 days | 2,856 sqft |
| 2019-02-01 | 42 days | 2,880 sqft |
| 2019-03-01 | 37 days | 2,885 sqft |
| 2019-04-01 | 29 days | 2,876 sqft |
| 2019-05-01 | 25 days | 2,946 sqft |
| 2019-06-01 | 26 days | 2,983 sqft |
| 2019-07-01 | 30 days | 2,997 sqft |
| 2019-08-01 | 36 days | 2,923 sqft |
| 2019-09-01 | 41 days | 2,863 sqft |
| 2019-10-01 | 44 days | 2,832 sqft |
| 2019-11-01 | 47 days | 2,866 sqft |
| 2019-12-01 | 58 days | 2,896 sqft |
| 2020-01-01 | 58 days | 2,842 sqft |
| 2020-02-01 | 35 days | 2,959 sqft |
| 2020-03-01 | 23 days | 2,964 sqft |
| 2020-04-01 | 31 days | 3,009 sqft |
| 2020-05-01 | 31 days | 3,065 sqft |
| 2020-06-01 | 30 days | 3,073 sqft |
| 2020-07-01 | 31 days | 3,034 sqft |
| 2020-08-01 | 31 days | 2,971 sqft |
| 2020-09-01 | 30 days | 2,777 sqft |
| 2020-10-01 | 29 days | 2,700 sqft |
| 2020-11-01 | 29 days | 2,707 sqft |
| 2020-12-01 | 35 days | 2,669 sqft |
| 2021-01-01 | 26 days | 2,640 sqft |
| 2021-02-01 | 13 days | 2,482 sqft |
| 2021-03-01 | 9 days | 2,393 sqft |
| 2021-04-01 | 9 days | 2,547 sqft |
| 2021-05-01 | 8 days | 2,612 sqft |
| 2021-06-01 | 9 days | 2,590 sqft |
| 2021-07-01 | 14 days | 2,498 sqft |
| 2021-08-01 | 15 days | 2,530 sqft |
| 2021-09-01 | 18 days | 2,373 sqft |
| 2021-10-01 | 19 days | 2,444 sqft |
| 2021-11-01 | 27 days | 2,346 sqft |
| 2021-12-01 | 32 days | 2,322 sqft |
| 2022-01-01 | 26 days | 2,327 sqft |
| 2022-02-01 | 15 days | 2,284 sqft |
| 2022-03-01 | 9 days | 2,237 sqft |
| 2022-04-01 | 9 days | 2,452 sqft |
| 2022-05-01 | 12 days | 2,527 sqft |
| 2022-06-01 | 18 days | 2,536 sqft |
| 2022-07-01 | 25 days | 2,448 sqft |
| 2022-08-01 | 33 days | 2,414 sqft |
| 2022-09-01 | 40 days | 2,344 sqft |
| 2022-10-01 | 46 days | 2,374 sqft |
| 2022-11-01 | 51 days | 2,392 sqft |
| 2022-12-01 | 63 days | 2,357 sqft |
| 2023-01-01 | 65 days | 2,286 sqft |
| 2023-02-01 | 48 days | 2,332 sqft |
| 2023-03-01 | 37 days | 2,466 sqft |
| 2023-04-01 | 28 days | 2,578 sqft |
| 2023-05-01 | 26 days | 2,627 sqft |
Colorado Springs's median square footage for active listings during the 2023-05-01 period was 2,627 sqft. One year prior, the average listing was 2,527 sqft.