If you’re active-duty, reserve or a veteran in the U.S. military and want to build a new Colorado Springs home, you’ll find you have several home-buying advantages.
You might already know about the VA-guaranteed home loan, and you might even have one already. If so, you know the loan enables you to buy a house with no money down at a low interest rate and to avoid paying mortgage insurance. It’s a pretty amazing loan program that makes home ownership affordable for the men and women who serve our country.
VA loans for new construction
Typically, it’s not easy to get a VA loan for new-home construction. That’s one reason many Colorado Springs home builders, including those who build in Cordera, do things a bit differently.
The builders will finance the construction themselves and sell you a finished house so you can get a normal VA loan. You’ll be able to move into your brand new Colorado Springs home and be the first and only occupant without the hassle of construction loans.
Remaining entitlement and restoration
If you already own a home with a VA loan and want to build a new Colorado Springs home, you will need to reach out to the local VA office and submit a form 26-1880 in order to be able to access your remaining entitlement or to restore your entitlement after you pay off your current loan.
This is something that can usually be accomplished seamlessly, so there’s no gap between selling your current home and moving into the new one.
Proximity to bases
If you’re thinking about building a new Colorado Springs home and work on one of the many military bases in our community, you will want to choose a neighborhood with easy access to your work. Cordera is conveniently located for the Air Force Academy, Schriever Air Force Base and Peterson Air Force Base.
Cordera is dedicated to making a great community and welcoming our servicemen and women. Our builders are among the best in Colorado Springs, and some have special programs for veterans.
Visit Cordera to see the model homes and to get a feel for our master-planned community on the north end of Colorado Springs.