VA Home Loans in Florence, CO
With 12.5% of residents having served, Florence has a strong veteran community well above the national average.
BAH & VA Qualifying Income in Florence
E-5 BAH at $1,800/mo covers approximately 85.6% of estimated monthly housing costs in Florence. Senior NCOs and officers (E-6 through O-5) see full or near-full coverage.
VA Funding Fee — Florence
| Down Payment | Funding Fee | Amount |
|---|---|---|
| 0% down (first use) | 2.15% | $5,912 |
| 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 Florence, lenders typically look for around $58,660/year in gross income against a $280,912 loan. VA is more flexible than most programs — residual income and compensating factors let some buyers qualify with lower income.
Veterans in Florence
An estimated 12.5% of Florence residents are veterans. With 12.5% of residents having served, Florence has a strong veteran community well above the national average.
Frequently Asked Questions
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