Introduction
Welcome to the Pikes Peak region, active-duty buyer. If you have orders in hand for Fort Carson, Peterson Space Force Base, Schriever Space Force Base or the U.S. Air Force Academy, your Veterans Affairs (VA) home loan benefit may be worth exploring. It could help you keep more of your budget available as you plan your move and settle into your new community. Here is how the VA loan process works from start to finish, timed around a permanent change of station (PCS).
Step 1: Secure your Certificate of Eligibility (COE)
The COE is the document that confirms to your lender that you qualify for the VA home loan benefit (Veterans Affairs). Active-duty members can request it online, and the VA notes that service members need a statement of service signed by a commander, adjutant, or personnel officer. Pull your COE as soon as you receive orders, because it is the first item your lender and the VA review, and having it ready can potentially save you time when your timeline is tight.
Step 2: Apply to get preapproved with a local lender
Preapproval can help you understand your purchase range and can signal to sellers that you are ready to close. Work with a lender who knows the Colorado Springs market and the bases here, because they can speak to timelines, local appraisers, and what makes a strong offer in this region. Bring your orders, Leave and Earnings Statement (LES), and proof of allowances so the lender can build an accurate picture of your buying power.
Step 3: House hunt with base proximity in mind
Your commute is a daily reality, so factor in the drive to your installation. The Colorado Springs area hosts five installations. Fort Carson sits south of the city, Peterson Space Force Base sits on the east side, Schriever Space Force Base sits farther east, Cheyenne Mountain Space Force Station sits to the southwest, and the U.S. Air Force Academy anchors the north (Opendoor). Neighborhoods that keep your drive reasonable may also hold their value well, which matters if you PCS again in a few years.
Step 4: Plan for the VA appraisal
The VA appraisal confirms the home's value and that it meets the VA's safety and structural standards. It is ordered through the lender once you are under contract and can help protect you by flagging issues before you commit. Keep in mind that an appraisal is not a home inspection, so consider scheduling a separate inspection as well. Since appraisers can be busy, ask your lender to order it early so the timeline does not push past your report date.
Step 5: Close, even while in transit
If your PCS pulls you out of town before closing day, you may be able to use a Power of Attorney so your spouse or a designated representative can sign on your behalf. Your lender can walk you through the paperwork to help keep a PCS from derailing your purchase. Ask about a rate lock extension if your orders shift, which might protect your terms while you travel, though an extension may involve a fee.
John Nudson | Loan Officer | NMLS# 262902 | Northpointe Bank
All loans are subject to credit review and approval. This is not a commitment to lend. Other terms and conditions may apply.
Northpointe Bank is authorized to originate VA loans but it is not an agent of, or affiliated with, the U.S. Government.
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