Colorado Springs VA Loans
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 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 271 lenders originated 18,420 VA loans during 2021. The total origination value was $6,950,180,000, with an average VA loan value of $377,317.
Colorado Springs VA Loans, 30 Year Fixed Rates
30 Year VA mortgages in Colorado Springs
averaged
5.55%
for the week of 2022-05-20, compared to the national average (all VA variants) of
5.143% for the same period.
The average rate for the prior week (2022-05-13) was
5.56% and
one month ago for the week of 2022-04-15, the
average rate was 5.02%.
The average rate one year ago was 3.21%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.86%.
Colorado Springs VA Loan Lenders by Rates & Fees
The below table looks at the average fees 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 FREEDOM MORTGAGE CORPORATION, with
1,206 VA loans originated. Their average total fees are
$3,533, which is $2,935
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Colorado Springs VA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($2,395), KS StateBank ($2,549), Lakeview Community Capital, LLC ($2,790), LAKEVIEW LOAN SERVICING, LLC ($2,836) and AIR ACADEMY ($2,876).
The lowest rate Colorado Springs VA lenders (with over 10 loans originated) are
ACCELERATE MORTGAGE, LLC (2.19%), First Mortgage Solutions, LLC (2.22%), KS StateBank (2.26%), TJC Mortgage, Inc. (2.26%) and VILLAGE CAPITAL & INVESTMENT LLC (2.27%).
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 | $396,321 (11.6%) | $508,251 (5.2%) | 1.46 | 1,534 |
| 2018-02-01 | $410,215 (11.0%) | $528,033 (6.6%) | 1.48 | 1,444 |
| 2018-03-01 | $419,888 (10.2%) | $532,038 (7.8%) | 1.45 | 1,554 |
| 2018-04-01 | $409,825 (7.9%) | $526,881 (6.4%) | 1.38 | 1,772 |
| 2018-05-01 | $398,750 (4.3%) | $519,857 (6.4%) | 1.33 | 1,975 |
| 2018-06-01 | $390,000 (4.0%) | $536,234 (12.2%) | 1.30 | 2,410 |
| 2018-07-01 | $381,500 (3.1%) | $509,148 (6.9%) | 1.27 | 2,752 |
| 2018-08-01 | $374,900 (2.0%) | $483,022 (2.0%) | 1.25 | 2,912 |
| 2018-09-01 | $371,887 (-0.5%) | $480,149 (0.7%) | 1.24 | 2,918 |
| 2018-10-01 | $372,894 (-0.6%) | $487,216 (0.5%) | 1.25 | 2,869 |
| 2018-11-01 | $375,750 (-0.8%) | $493,545 (-2.0%) | 1.26 | 2,765 |
| 2018-12-01 | $382,892 (-0.6%) | $501,736 (-0.5%) | 1.31 | 2,270 |
| 2019-01-01 | $392,492 (-1.0%) | $508,963 (0.1%) | 1.35 | 1,909 |
| 2019-02-01 | $396,595 (-3.3%) | $515,884 (-2.3%) | 1.33 | 1,774 |
| 2019-03-01 | $405,471 (-3.4%) | $524,606 (-1.4%) | 1.32 | 1,774 |
| 2019-04-01 | $413,950 (1.0%) | $530,070 (0.6%) | 1.30 | 1,850 |
| 2019-05-01 | $427,500 (7.2%) | $553,235 (6.4%) | 1.32 | 1,977 |
| 2019-06-01 | $425,590 (9.1%) | $552,006 (2.9%) | 1.31 | 2,307 |
| 2019-07-01 | $429,000 (12.5%) | $548,835 (7.8%) | 1.33 | 2,578 |
| 2019-08-01 | $425,505 (13.5%) | $541,041 (12.0%) | 1.34 | 2,579 |
| 2019-09-01 | $425,455 (14.4%) | $536,196 (11.7%) | 1.35 | 2,517 |
| 2019-10-01 | $426,450 (14.4%) | $541,841 (11.2%) | 1.36 | 2,371 |
| 2019-11-01 | $435,000 (15.8%) | $554,981 (12.5%) | 1.40 | 2,015 |
| 2019-12-01 | $438,235 (14.5%) | $566,481 (12.9%) | 1.46 | 1,661 |
| 2020-01-01 | $444,825 (13.3%) | $567,949 (11.6%) | 1.48 | 1,358 |
| 2020-02-01 | $465,000 (17.3%) | $596,922 (15.7%) | 1.50 | 1,205 |
| 2020-03-01 | $467,872 (15.4%) | $596,042 (13.6%) | 1.46 | 1,290 |
| 2020-04-01 | $472,450 (14.1%) | $593,995 (12.1%) | 1.47 | 1,452 |
| 2020-05-01 | $474,900 (11.1%) | $591,922 (7.0%) | 1.44 | 1,683 |
| 2020-06-01 | $477,309 (12.2%) | $600,784 (8.8%) | 1.39 | 1,715 |
| 2020-07-01 | $479,900 (11.9%) | $605,889 (10.4%) | 1.38 | 1,627 |
| 2020-08-01 | $470,000 (10.5%) | $627,172 (15.9%) | 1.34 | 1,512 |
| 2020-09-01 | $452,250 (6.3%) | $611,122 (14.0%) | 1.29 | 1,320 |
| 2020-10-01 | $452,051 (6.0%) | $630,229 (16.3%) | 1.29 | 1,120 |
| 2020-11-01 | $471,765 (8.5%) | $655,889 (18.2%) | 1.35 | 874 |
| 2020-12-01 | $472,435 (7.8%) | $685,236 (21.0%) | 1.39 | 719 |
| 2021-01-01 | $477,000 (7.2%) | $691,241 (21.7%) | 1.40 | 568 |
| 2021-02-01 | $466,077 (0.2%) | $655,978 (9.9%) | 1.34 | 543 |
| 2021-03-01 | $449,950 (-3.8%) | $624,332 (4.8%) | 1.26 | 603 |
| 2021-04-01 | $465,000 (-1.6%) | $657,992 (10.8%) | 1.25 | 678 |
| 2021-05-01 | $479,900 (1.1%) | $672,349 (13.6%) | 1.26 | 759 |
| 2021-06-01 | $492,500 (3.2%) | $701,004 (16.7%) | 1.28 | 923 |
| 2021-07-01 | $492,500 (2.6%) | $682,041 (12.6%) | 1.28 | 1,103 |
| 2021-08-01 | $495,000 (5.3%) | $680,181 (8.5%) | 1.30 | 1,215 |
| 2021-09-01 | $493,417 (9.1%) | $676,717 (10.7%) | 1.30 | 1,234 |
| 2021-10-01 | $495,000 (9.5%) | $692,353 (9.9%) | 1.30 | 1,258 |
| 2021-11-01 | $493,696 (4.7%) | $707,685 (7.9%) | 1.30 | 1,066 |
| 2021-12-01 | $492,531 (4.3%) | $722,124 (5.4%) | 1.31 | 841 |
| 2022-01-01 | $494,401 (3.7%) | $718,293 (3.9%) | 1.32 | 686 |
| 2022-02-01 | $488,515 (4.8%) | $737,419 (12.4%) | 1.24 | 666 |
| 2022-03-01 | $498,000 (10.7%) | $717,152 (14.9%) | 1.23 | 706 |
| 2022-04-01 | $525,000 (12.9%) | $725,565 (10.3%) | 1.24 | 876 |
Colorado Springs's median listing price comes in at 124% of the national average.
Colorado Springs's average listing price for 2022-04-01 was $725,565, a difference of $67,573 (10.3%) versus the prior year and $8,413 versus the prior month.
For the 2022-04-01 period, Colorado Springs had 876 MLS listings, a difference of 170 listings (24%) versus the prior month and 198 listings (29%) 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 | 3,102 sqft |
| 2018-02-01 | 43 days | 3,115 sqft |
| 2018-03-01 | 33 days | 3,171 sqft |
| 2018-04-01 | 29 days | 3,110 sqft |
| 2018-05-01 | 29 days | 3,041 sqft |
| 2018-06-01 | 29 days | 2,984 sqft |
| 2018-07-01 | 32 days | 2,874 sqft |
| 2018-08-01 | 37 days | 2,805 sqft |
| 2018-09-01 | 40 days | 2,817 sqft |
| 2018-10-01 | 46 days | 2,866 sqft |
| 2018-11-01 | 50 days | 2,882 sqft |
| 2018-12-01 | 60 days | 2,874 sqft |
| 2019-01-01 | 63 days | 2,919 sqft |
| 2019-02-01 | 44 days | 2,919 sqft |
| 2019-03-01 | 42 days | 2,935 sqft |
| 2019-04-01 | 32 days | 2,941 sqft |
| 2019-05-01 | 28 days | 3,052 sqft |
| 2019-06-01 | 29 days | 3,030 sqft |
| 2019-07-01 | 32 days | 3,060 sqft |
| 2019-08-01 | 41 days | 3,005 sqft |
| 2019-09-01 | 48 days | 2,956 sqft |
| 2019-10-01 | 45 days | 2,935 sqft |
| 2019-11-01 | 50 days | 3,026 sqft |
| 2019-12-01 | 60 days | 3,031 sqft |
| 2020-01-01 | 63 days | 2,972 sqft |
| 2020-02-01 | 38 days | 3,111 sqft |
| 2020-03-01 | 28 days | 3,106 sqft |
| 2020-04-01 | 31 days | 3,117 sqft |
| 2020-05-01 | 35 days | 3,128 sqft |
| 2020-06-01 | 32 days | 3,147 sqft |
| 2020-07-01 | 35 days | 3,136 sqft |
| 2020-08-01 | 33 days | 3,090 sqft |
| 2020-09-01 | 34 days | 2,890 sqft |
| 2020-10-01 | 32 days | 2,796 sqft |
| 2020-11-01 | 34 days | 2,868 sqft |
| 2020-12-01 | 38 days | 2,843 sqft |
| 2021-01-01 | 35 days | 2,763 sqft |
| 2021-02-01 | 16 days | 2,597 sqft |
| 2021-03-01 | 12 days | 2,492 sqft |
| 2021-04-01 | 11 days | 2,635 sqft |
| 2021-05-01 | 9 days | 2,672 sqft |
| 2021-06-01 | 12 days | 2,637 sqft |
| 2021-07-01 | 15 days | 2,606 sqft |
| 2021-08-01 | 16 days | 2,585 sqft |
| 2021-09-01 | 21 days | 2,522 sqft |
| 2021-10-01 | 24 days | 2,508 sqft |
| 2021-11-01 | 31 days | 2,482 sqft |
| 2021-12-01 | 35 days | 2,413 sqft |
| 2022-01-01 | 35 days | 2,397 sqft |
| 2022-02-01 | 21 days | 2,326 sqft |
| 2022-03-01 | 12 days | 2,312 sqft |
| 2022-04-01 | 10 days | 2,509 sqft |
Colorado Springs's median square footage for active listings during the 2022-04-01 period was 2,509 sqft. One year prior, the average listing was 2,635 sqft.
