VA Home Loans in Cañon City, CO
With 12.8% of residents having served, Cañon City has a strong veteran community well above the national average.
BAH & VA Qualifying Income in Cañon City
E-5 BAH at $1,800/mo covers approximately 79.2% of estimated monthly housing costs in Cañon City. Senior NCOs and officers (E-6 through O-5) see full or near-full coverage.
VA Funding Fee — Cañon City
| Down Payment | Funding Fee | Amount |
|---|---|---|
| 0% down (first use) | 2.15% | $6,492 |
| 5% down | 1.50% | Lower fee |
| 10%+ down | 1.25% | Lowest — no MIP ever |
Disabled veterans with a service-connected rating may be exempt from the funding fee entirely. Surviving spouses of service members who died in the line of duty are also exempt.
Income to Qualify
To comfortably afford a VA loan in Cañon City, lenders typically look for around $63,460/year in gross income against a $308,493 loan. VA is more flexible than most programs — residual income and compensating factors let some buyers qualify with lower income.
Veterans in Cañon City
An estimated 12.8% of Cañon City residents are veterans. With 12.8% of residents having served, Cañon City has a strong veteran community well above the national average.
Frequently Asked Questions
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