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Chaffee County, Colorado VA Home Loan Information

Table of Contents


What is the VA Loan Limit?

2021 VA Home Loan Limit: $0 down payment up to $5,000,000* (subject to lender limits) /2 open VA loans at one time $548,250 (Call 877-432-5626 for details).

How to Apply for a VA Home Loan?

This is a quick look at how to apply for a VA home loan in Chaffee county. For a more detailed overview of the VA home loan process, check out our complete guide on how to apply for a VA house loan. Here, we’ll go over the general steps to getting a VA home loan and point out some things to pay attention to in Chaffee County. If you have any questions, you can call us at VA HLC and we’ll help you get started.

  1. Get your Certificate of Eligibility (COE)
    • Give us a call at (877) 432-5626 and we’ll get your COE for you.
  2. Are you applying for a refinance loan? Check out our complete guide to VA Refinancing.
  3. Get pre-approved, to get pre-approved for a loan, you’ll need:
    • Previous two years of W2s
    • Most recent 30 days paystubs or LES (active duty)
    • Most recent 60 days bank statements
    • Landlord and HR/Payroll Department contact info
  4. Find a home
    • We can help you check whether the home is in one of the Chaffee County flood zones
  5. Get the necessary inspections
    • Termite inspection: required
    • Well or septic inspections needed, if applicable
  6. Get the home appraised
    • We can help you find a VA-Certified appraiser in Chaffee County and schedule the process
    • Construction loan note: Construction permit/appraisal info
      1. Building permit
      2. Elevation certificate
  7. Lock in your interest rates
    • Pro tip: Wait until the appraisal lock in your loan rates. If it turns out you need to make repairs, it can push your closing back. Then you can get stuck paying rate extension fees.
  8. Close the deal and get packing!
    • You’re ready to go.

What is the Median Home Price?

As of April 31, 2021, the median home value for Chaffee County is $426,332. In addition, the median household income for residents of the County is $55,771.

How much are the VA Appraisal Fees?

  • Single-Family: $750.
  • Individual Condo: $775.
  • Manufactured Homes: $800.
  • 2-4 Unit Multi-Family: $950.
  • Appraisal Turnaround Times: 7 days.

Do I need Flood Insurance?

  • The VA requires properties are required to have flood insurance if they are in a Special Flood Hazard Area.
  • In Chaffee County, there are few flood hazard areas, with the most significant ones being in low elevation areas around the Arkansas River. Other minor flood areas are around Chalk Creek, Little Cottonwood Creek, and Cottonwood Creek.

How do I learn about Property Taxes?

  • Brenda J. Mosby is the Chaffee County tax assessor. Her office is located at 104 Crestone Avenue, Salida, Colorado 81201 and can be called at (719) 539-4016.
  • Colorado State offers Coloradoans the opportunity to be eligible for the Property Tax, Rent, Heat Credit Rebate (PTC Rebate). Some basic requirements are that applicants live in Colorado for at least one year, be 65 years or older, or the surviving spouse of 58 years of age, or a disabled person. Income and expenses will guide how much is given in the rebate.

What is the Population?

  • The County’s population of 20,356 is 85% White, 10% Hispanic, and 1.8% Black.
  • Most county residents are between 18 and 65 years old, with 15% under 18 years old and 26% older than 65.
  • In total, the County has about 8,231 households, with an average of 2.2 people per household.

What are the major cities?

The County has one city and two towns; the city is Salida, which serves as the county seat. The two other towns are Buena Vista and Poncha Springs.

About Chaffee County

The Colorado legislature created Chaffee County between February 8 and February 10, 1879. The County was initially named Carbonate County but was renamed Chaffee on February 10, 1879. Located on the eastern slope of the Rocky Mountains, Chaffee County borders the Sawatch Ranch. The County’s name for the entrepreneur and former Colorado State Senator Jerome B. Chaffee.

Educationally speaking, the County is served by the Salida Schools and the Buena Vista School District No. R-31. With ten schools, the County educates more than 2,200 students every year from kindergarten up to 12th grade.

Chaffee County is known as both the “Heart of the Rockies” and the “Fourteener Region.” The elevation ranges from 7,000 feet to 14,000 feet at its highest point. This County has more mountain peaks over 14,000 feet than any of the other counties in Colorado.

Furthermore, enjoy several options like skiing, mountain climbing, and river rafting. In addition, there is an abundance of hot springs, which are perfect for relaxation. There are also several hiking trails and bicycle routes. If hiking seems like hard work, some trails allow you to enjoy the County’s beauty while on horseback.   

Veteran Information

The County is currently home to 1,760 veterans.

VA Home Loan Information

  • For more information about VA Home Loans and how to apply, click here.
  • If you meet the VA’s eligibility requirements, you will be able to enjoy some of the best government-guaranteed home loans available.  
  • VA loans can finance the construction of a property. However, the property must be owned and prepared for construction as the VA cannot ensure vacant land loans.

VA Approved Condos

Name (ID): CORTONA COURT (002999)
Address: CONDOS

Status: Accepted Without Conditions
Request Received Date: 11/03/2015
Review Completion Date: 11/17/2015

Status: Accepted Without Conditions
Request Received Date: 11/03/2015
Review Completion Date: 11/17/2015
Address: 102 M&M LANE UNIT A

Status: Accepted Without Conditions
Request Received Date: 10/16/2018
Review Completion Date: 12/16/2018