Colorado
VA One-Time Close construction loans in Colorado.
Home Loans Inc is not licensed to originate loans in Colorado. But the education on this site applies everywhere, and we built these tools so you can walk into any lender's office knowing more than most loan officers do about the VA OTC.
We are not licensed in Colorado, but we can still help you prepare.
The VA One-Time Close construction loan works the same way in every state. The math is the same. The qualification gates are the same. The appraisal challenge is the same. What changes is the local market - and that is what determines whether your deal is permissible on paper or actually feasible in the real world.
Use our tools below to educate yourself before you talk to a lender in Colorado. Know your Total Acquisition Cost, understand the comp question, and walk in prepared. If you are building in one of our 10 licensed states, we can originate your loan directly.
States where VAOTC can originate your loan
South Carolina | North Carolina | Virginia | West Virginia | Florida | Georgia | Alabama | Mississippi | Iowa | Wyoming
Start an application or book a call with Jason if you are building in one of these states.
Our Colorado partner
Need a loan in Colorado now? Talk to Vic Malone.
Vic Malone
CAPT, USN (ret) | Owner and Mortgage Broker, Peak Seven Mortgage
Vic is a retired Navy captain who served 27 years, in submarines and space operations. Days before he retired in 2012, the Waldo Canyon Fire destroyed his Colorado Springs home. He rebuilt it, and the refinance that followed is what led him into the mortgage business. He has run Peak Seven Mortgage, a Colorado mortgage brokerage, since 2018.
VA loans are his specialty, with an emphasis on the VA One-Time Close construction loan, so he knows the builder, draw and appraisal side of a Colorado build. Jason Sharon knows Vic personally, and he is who we send Colorado homeowners to while Home Loans Inc is not licensed there.
102 S Tejon St, Suite 1100, Colorado Springs, CO 80903
719-304-4900
NMLS #1084279 | Company NMLS #1712479
Peak Seven Mortgage is an independent company and is not affiliated with Home Loans Inc. Home Loans Inc receives no fee or other compensation for this referral, and you are free to choose any lender. Check licensing on NMLS Consumer Access.
Military installations in Colorado
Fort Carson
Colorado Springs
4th Infantry Division, 10th SFG
Peterson SFB
Colorado Springs
Space Command, NORAD
Schriever SFB
Colorado Springs
Space operations
US Air Force Academy
Colorado Springs
Service academy
Buckley SFB
Aurora (Denver metro)
Space-based missile warning
Cheyenne Mountain SFS
Colorado Springs
NORAD bunker
Market overview for Colorado
Colorado Springs is one of the most military-dense cities in the country. The comp picture there is generally strong for VA OTC. Denver metro works too but at higher price points. Mountain communities add altitude-related construction challenges and seasonal limitations.
Colorado Springs
Major military town, strong comps, growing market
Denver metro
Expensive but comps exist across a wide range
Fort Collins / Northern CO
Growing, moderate comps
Pueblo
Affordable, but thinner comps
Western Slope
Rural, very thin comps, longer build seasons at altitude
The thesis applies in Colorado just like everywhere else
Permissible does not mean feasible.
The VA will allow a construction loan in Colorado. That is permissible. Whether an appraiser in your specific market can find 3 comparable homes that sold for your Total Acquisition Cost in the last 12 months is feasible. That gap is where most deals die, in every state. Understand all four qualification gates.
Prepare yourself before you talk to any lender
These tools work for any state. Use them to know your numbers and your risks before you pick up the phone.
Colorado VA OTC questions
Can VAOTC originate VA construction loans in Colorado?
No. Home Loans Inc (VAOTC) is not currently licensed in Colorado. We are licensed in South Carolina, North Carolina, Virginia, West Virginia, Florida, Georgia, Alabama, Mississippi, Iowa, and Wyoming. If you are building in one of those states, we can help directly.
Is the VA One-Time Close available in Colorado?
Yes. The VA One-Time Close construction loan is available nationwide, including Colorado. You need a lender who is licensed in Colorado and has specific experience with VA OTC construction loans, not just standard VA purchase loans. Our Colorado partner, Vic Malone of Peak Seven Mortgage, works VA One-Time Close loans.
What is the VA One-Time Close construction loan?
The VA One-Time Close (OTC) rolls land purchase, construction, and permanent financing into a single loan with one closing. No down payment for eligible veterans. The catch: the finished home must appraise for the Total Acquisition Cost, which includes lot, build, contingency, accrued interest, and the VA funding fee.
What is Total Acquisition Cost?
Total Acquisition Cost (TAC) is the sum of your lot price, construction cost, contingency reserve (typically 5%), accrued interest during the build, and the VA funding fee. This is the number your finished home must appraise for. Use our cost estimator at vaotc.com/cost-estimator/ to calculate yours.
Who can help me with a mortgage in Colorado right now?
Our Colorado partner is Vic Malone, a retired Navy captain and owner of Peak Seven Mortgage in Colorado Springs (NMLS #1084279, company NMLS #1712479). Call him at 719-304-4900. Peak Seven Mortgage is independent and not affiliated with Home Loans Inc, and Home Loans Inc receives no compensation for the referral.
What should I look for in a VA OTC lender in Colorado?
Experience with VA construction loans specifically (not just VA purchase), a track record of closed VA OTC deals, honest communication about whether your deal is feasible given local comps, and willingness to tell you no before you waste months on a deal that will not close.
What does permissible vs feasible mean?
The VA will permit a loan for virtually any amount a borrower qualifies for. That is permissible. Whether an appraiser can find 3 comparable homes that sold for that amount in the last 12 months near your build site is feasible. The gap between those two words is where most VA construction loan deals die.
Are there military bases in Colorado?
Yes. Colorado has active military installations that drive VA loan activity in the surrounding areas. Each base creates its own local market with its own comp dynamics. See the military installations section above for details.
Can I use the VAOTC cost estimator for my build?
Yes. The math works the same in every state. Our cost estimator at vaotc.com/cost-estimator/ calculates your Total Acquisition Cost based on lot price, build cost, timeline, rate, and funding fee status. Use it to gut-check whether the numbers work before you commit to a lot or builder.
Building in one of our licensed states?
If you are building in South Carolina, North Carolina, Virginia, West Virginia, Florida, Georgia, Alabama, Mississippi, Iowa, or Wyoming, Home Loans Inc can originate your VA OTC loan. If you are in Colorado, use our tools to prepare, then talk to Vic Malone at Peak Seven Mortgage, our Colorado partner, at 719-304-4900.
Questions about VA construction loans in any state? Book a call or use our cost estimator to run the numbers first.
(843) 569-7283 / 843.LOW.RATEQuestions about VA construction loans in any state