Use the home loan benefit you earned

No down payment is required if you have full entitlement, subject to lender approval. You can choose to put money down to lower your monthly payment, and a down payment of 5% or more also lowers the funding fee.

The VA funding fee is a one-time fee that helps fund the program. For purchases, it's 1.25%–3.3% of the loan amount, depending on your down payment and whether you've used a VA loan before (2.15% for first use with less than 5% down). For an IRRRL refinance it's 0.5%. The fee can be financed, and veterans receiving VA disability compensation are exempt.

Yes. VA loans can be used anywhere in Colorado, including mountain communities like Vail, Breckenridge and Steamboat Springs, as long as the home will be your primary residence and meets VA property requirements.

Veterans with full entitlement have no VA loan limit, though you still need lender approval. With reduced entitlement — for example, if you have an active VA loan — your county's conforming limit affects how much you can borrow with no down payment.