Your Colorado Springs military relocation may be bringing you to Fort Carson, Peterson Air Force Base, Schriever Air Force Base, NORAD, or the U.S. Air Force Academy.  With such a large military presence in Colorado Springs, it is no surprise that military families often find themselves looking for a home in the Colorado Springs area.

If you are in the military, and you find yourself in a position to buy your first home in the Pike’s Peak region, you may be wondering what kind of mortgage you will qualify for.

Below is a summary of the special mortgage loan incentives available for your Colorado Springs military relocation:

• The top choice for most military families is the VA Loan.  VA Loans are very popular among military families, and provide exceptional value for the first-time homebuyer.  In recognition of their services to the Nation, the US Department of Veterans Affairs provides a guarantee to help active duty personnel and veterans buy and retain homes.  These loans are available to officers and soldiers of the U.S. Armed Forces Branch.

• Another option is an FHA Loan, which offers the best loan rates available for Colorado Springs homebuyers.  Like VA Loans, an FHA loan is backed by the government and has no minimum credit score requirement for first time home buyers.   However, unlike a VA loan, you will need to put 3.5% down.

Colorado Springs is one of the best places to live in America.  In fact, according to Outside Magazine’s “Best Towns: 2009”, we’re number one!  If you are in the military and planning a Colorado Springs military relocation, we look forward to welcoming you to the neighborhood!