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 177 lenders originated 4,945 VA loans during 2023. The total origination value was $2,367,255,000, with an average VA loan value of $478,717.
Colorado Springs VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Colorado Springs
averaged
6.45%
for the week of 2024-04-19, compared to the national average (all VA variants) of
6.758% for the same period.
Colorado Springs's average VA mortgage closing costs are $7,137.
The average rate for the prior week (2024-04-12) was
6.58% and
one month ago for the week of 2024-03-15, the
average rate was 6.35%.
The average rate one year ago was 5.74%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.92%.
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
975 VA loans originated. Their average total fees are
$9,723, which is $338
higher than the next largest lender,
Mortgage Research Center, LLC.
The lowest fee Colorado Springs VA lenders (with over 10 loans originated) are
HOMEAMERICAN MORTGAGE CORPORATION ($5,393), NBKC BANK ($6,183), Wells Fargo Bank ($6,425), GUARANTEED RATE AFFINITY, LLC ($6,943) and CHERRY CREEK MORTGAGE, LLC ($6,985).
The lowest rate Colorado Springs VA lenders (with over 10 loans originated) are
CORNERSTONE HOME LENDING, INC. (4.20%), PLANET HOME LENDING, LLC (4.91%), Wells Fargo Bank (5.07%), HOMEAMERICAN MORTGAGE CORPORATION (5.17%) and INSPIRE HOME LOANS INC. (5.22%).
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 | $388,291 (12.0%) | $486,184 (6.5%) | 1.44 | 1,310 |
| 2018-02-01 | $397,500 (11.7%) | $501,114 (6.4%) | 1.44 | 1,236 |
| 2018-03-01 | $411,925 (11.0%) | $516,447 (8.9%) | 1.45 | 1,314 |
| 2018-04-01 | $400,397 (8.2%) | $504,946 (6.3%) | 1.36 | 1,505 |
| 2018-05-01 | $390,280 (3.7%) | $495,938 (5.2%) | 1.30 | 1,678 |
| 2018-06-01 | $385,000 (4.5%) | $522,888 (13.3%) | 1.28 | 2,056 |
| 2018-07-01 | $374,292 (2.6%) | $490,846 (6.8%) | 1.25 | 2,330 |
| 2018-08-01 | $365,363 (2.2%) | $462,568 (1.0%) | 1.22 | 2,467 |
| 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%) | $474,860 (-2.0%) | 1.29 | 1,924 |
| 2019-01-01 | $382,450 (-1.5%) | $478,022 (-1.7%) | 1.32 | 1,639 |
| 2019-02-01 | $389,946 (-1.9%) | $484,661 (-3.3%) | 1.32 | 1,560 |
| 2019-03-01 | $397,100 (-3.6%) | $496,048 (-4.0%) | 1.30 | 1,525 |
| 2019-04-01 | $399,900 (-0.1%) | $501,607 (-0.7%) | 1.27 | 1,575 |
| 2019-05-01 | $417,413 (7.0%) | $519,425 (4.7%) | 1.30 | 1,678 |
| 2019-06-01 | $419,000 (8.8%) | $518,975 (-0.8%) | 1.31 | 1,948 |
| 2019-07-01 | $416,500 (11.3%) | $516,244 (5.2%) | 1.30 | 2,158 |
| 2019-08-01 | $412,682 (13.0%) | $513,767 (11.1%) | 1.31 | 2,127 |
| 2019-09-01 | $409,205 (12.1%) | $513,370 (11.8%) | 1.31 | 2,062 |
| 2019-10-01 | $411,136 (11.8%) | $513,729 (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 (11.0%) | 1.41 | 1,275 |
| 2020-05-01 | $457,400 (9.6%) | $557,583 (7.4%) | 1.39 | 1,488 |
| 2020-06-01 | $461,038 (10.0%) | $562,367 (8.4%) | 1.36 | 1,473 |
| 2020-07-01 | $457,500 (9.8%) | $572,922 (11.0%) | 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 | $454,950 (1.2%) | $618,256 (11.1%) | 1.23 | 612 |
| 2021-05-01 | $473,000 (3.4%) | $634,905 (13.9%) | 1.26 | 685 |
| 2021-06-01 | $476,588 (3.4%) | $661,929 (17.7%) | 1.25 | 817 |
| 2021-07-01 | $478,900 (4.7%) | $640,259 (11.8%) | 1.26 | 972 |
| 2021-08-01 | $477,450 (6.1%) | $638,585 (9.6%) | 1.27 | 1,046 |
| 2021-09-01 | $477,382 (9.7%) | $635,388 (11.1%) | 1.27 | 1,079 |
| 2021-10-01 | $485,000 (10.3%) | $649,980 (12.4%) | 1.29 | 1,113 |
| 2021-11-01 | $484,324 (6.8%) | $660,355 (8.7%) | 1.29 | 935 |
| 2021-12-01 | $484,948 (7.4%) | $674,878 (7.6%) | 1.31 | 739 |
| 2022-01-01 | $490,763 (8.9%) | $678,863 (7.7%) | 1.33 | 602 |
| 2022-02-01 | $482,765 (8.5%) | $679,167 (11.0%) | 1.26 | 593 |
| 2022-03-01 | $487,654 (12.1%) | $658,027 (10.1%) | 1.22 | 635 |
| 2022-04-01 | $515,000 (13.2%) | $671,515 (8.6%) | 1.23 | 775 |
| 2022-05-01 | $537,709 (13.7%) | $677,996 (6.8%) | 1.23 | 1,202 |
| 2022-06-01 | $537,500 (12.8%) | $671,934 (1.5%) | 1.20 | 1,706 |
| 2022-07-01 | $521,740 (9.0%) | $643,884 (0.6%) | 1.18 | 2,352 |
| 2022-08-01 | $517,700 (8.4%) | $634,944 (-0.6%) | 1.20 | 2,536 |
| 2022-09-01 | $505,000 (5.8%) | $627,401 (-1.3%) | 1.18 | 2,419 |
| 2022-10-01 | $499,999 (3.1%) | $618,953 (-4.8%) | 1.18 | 2,462 |
| 2022-11-01 | $499,700 (3.2%) | $612,436 (-7.3%) | 1.20 | 2,319 |
| 2022-12-01 | $499,000 (2.9%) | $614,710 (-8.9%) | 1.23 | 1,938 |
| 2023-01-01 | $498,779 (1.6%) | $623,697 (-8.1%) | 1.24 | 1,562 |
| 2023-02-01 | $499,000 (3.4%) | $629,654 (-7.3%) | 1.20 | 1,375 |
| 2023-03-01 | $527,500 (8.2%) | $654,647 (-0.5%) | 1.24 | 1,270 |
| 2023-04-01 | $535,000 (3.9%) | $672,648 (0.2%) | 1.24 | 1,328 |
| 2023-05-01 | $550,000 (2.3%) | $693,071 (2.2%) | 1.25 | 1,469 |
| 2023-06-01 | $549,950 (2.3%) | $685,762 (2.1%) | 1.24 | 1,657 |
| 2023-07-01 | $545,000 (4.5%) | $694,480 (7.9%) | 1.24 | 1,917 |
| 2023-08-01 | $534,236 (3.2%) | $685,321 (7.9%) | 1.23 | 2,049 |
| 2023-09-01 | $525,000 (4.0%) | $678,648 (8.2%) | 1.22 | 2,178 |
| 2023-10-01 | $514,087 (2.8%) | $676,028 (9.2%) | 1.21 | 2,196 |
| 2023-11-01 | $499,187 (-0.1%) | $660,080 (7.8%) | 1.19 | 2,155 |
| 2023-12-01 | $490,000 (-1.8%) | $653,202 (6.3%) | 1.20 | 1,813 |
| 2024-01-01 | $487,875 (-2.2%) | $652,404 (4.6%) | 1.19 | 1,529 |
| 2024-02-01 | $489,601 (-1.9%) | $651,529 (3.5%) | 1.18 | 1,485 |
| 2024-03-01 | $495,000 (-6.2%) | $638,631 (-2.5%) | 1.17 | 1,523 |
Colorado Springs's median listing price comes in at 117% of the national average.
Colorado Springs's average listing price for 2024-03-01 was $638,631, a difference of $-16,016 (-2.5%) versus the prior year and $-12,898 versus the prior month.
For the 2024-03-01 period, Colorado Springs had 1,523 MLS listings, a difference of 38 listings (3%) versus the prior month and 253 listings (20%) 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 | 3,060 sqft |
| 2018-02-01 | 43 days | 3,087 sqft |
| 2018-03-01 | 32 days | 3,111 sqft |
| 2018-04-01 | 26 days | 3,092 sqft |
| 2018-05-01 | 28 days | 3,007 sqft |
| 2018-06-01 | 26 days | 2,929 sqft |
| 2018-07-01 | 31 days | 2,826 sqft |
| 2018-08-01 | 37 days | 2,770 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 | 61 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 | 2,947 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 | 2,613 sqft |
| 2021-06-01 | 9 days | 2,592 sqft |
| 2021-07-01 | 14 days | 2,499 sqft |
| 2021-08-01 | 15 days | 2,535 sqft |
| 2021-09-01 | 18 days | 2,378 sqft |
| 2021-10-01 | 19 days | 2,444 sqft |
| 2021-11-01 | 27 days | 2,348 sqft |
| 2021-12-01 | 32 days | 2,327 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 | 2,535 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 | 2,375 sqft |
| 2022-11-01 | 51 days | 2,393 sqft |
| 2022-12-01 | 63 days | 2,360 sqft |
| 2023-01-01 | 66 days | 2,285 sqft |
| 2023-02-01 | 48 days | 2,331 sqft |
| 2023-03-01 | 37 days | 2,466 sqft |
| 2023-04-01 | 28 days | 2,578 sqft |
| 2023-05-01 | 26 days | 2,629 sqft |
| 2023-06-01 | 30 days | 2,647 sqft |
| 2023-07-01 | 32 days | 2,620 sqft |
| 2023-08-01 | 37 days | 2,510 sqft |
| 2023-09-01 | 42 days | 2,450 sqft |
| 2023-10-01 | 44 days | 2,387 sqft |
| 2023-11-01 | 49 days | 2,359 sqft |
| 2023-12-01 | 59 days | 2,302 sqft |
| 2024-01-01 | 63 days | 2,213 sqft |
| 2024-02-01 | 41 days | 2,166 sqft |
| 2024-03-01 | 36 days | 2,164 sqft |
Colorado Springs's median square footage for active listings during the 2024-03-01 period was 2,164 sqft. One year prior, the average listing was 2,466 sqft.