VA loan basics for Cortez buyers
The VA loan is consistently the strongest purchase loan available for eligible veterans — and in Cortez's price range, it's particularly powerful. The 2026 conforming limit in Montezuma County is $806,500. With full VA entitlement, there's no loan limit at all, meaning you can buy at Cortez's price points with 0% down without triggering jumbo requirements.
What the VA loan offers:
- 0% down payment
- No private mortgage insurance (PMI) — ever
- Competitive fixed rates, often lower than conventional
- Flexible credit and DTI guidelines
- One-time VA funding fee (2.15% first use, 3.3% subsequent) — can be financed, waived for service-connected disability
What the VA allows in Cortez
Manufactured homes: VA allows manufactured home financing when the home is on a permanent foundation, titled as real property, and built after June 15, 1976. Montezuma County has a meaningful manufactured housing stock — many veterans who own these homes don't realize VA refinancing is available.
Acreage and rural properties: VA doesn't restrict acreage. A property with pasture, outbuildings, or a barn can qualify as long as it's primarily residential in character.
Older homes: Cortez has significant housing stock from the 1960s–1980s. VA appraisers flag deferred maintenance and pre-1978 lead-based paint concerns. We typically know before appraisal whether a property is likely to have conditions.
USDA vs. VA in Montezuma County: Both are 0% down. VA has no income limits and no geographic requirement. If you qualify for both, VA usually wins — the monthly cost is lower once you account for USDA's guarantee fee vs. VA's no-PMI structure. Compare in our USDA vs. FHA guide.
The VA funding fee
The funding fee is a one-time cost. First-time use: 2.15%. Subsequent use: 3.3%. If you have a service-connected disability rating of 10% or higher, the fee is waived entirely — this saves $4,300–$6,600 on a $200,000 loan. The fee can be financed into the loan.
How to use your VA benefit in Cortez
- Get your Certificate of Eligibility (COE). We pull this for you through the VA's automated system.
- Get pre-approved. We verify income, credit, and entitlement.
- Find a property. Once under contract, we order the VA appraisal with a VA-certified appraiser.
- Close. VA loans close in 30–40 days.
Frequently Asked Questions
Is there a VA loan limit in Montezuma County?
With full entitlement, no. You can buy at any price in Cortez with 0% down.
Can I use my VA loan benefit more than once?
Yes. See our VA IRRRL streamline refinance guide and reach out about entitlement restoration.
Does my property need a well and septic inspection?
Yes for well/septic properties. VA requires water quality testing. Schedule in the first week after going under contract.
Can I buy a manufactured home in Cortez with a VA loan?
Yes, if it meets VA's requirements: permanent foundation, titled as real property, built after June 15, 1976.
What if my VA appraisal comes in below the purchase price?
You can request a seller price reduction, pay the difference in cash, or challenge with a Reconsideration of Value.