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 Coverage 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 $58,660/year gross income (28% front-end DTI on a $280,912 loan). VA is more flexible than most programs — residual income and compensating factors let some buyers qualify with lower income.
Veteran Population
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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