Determine Your Eligibility Here

Homebuyer Tax Credit

All Veteran home buyers are eligible to apply for the Colorado Springs Home Buyer Tax Credit, which will give you a dollar-for-dollar reduction of your tax liability at the end of the year. We see an average of over $100/month off our Veteran’s mortgage interest through the tax credit. This is a way to save substantially on your Colorado Springs VA Loan.

The discount is not a monthly reduction of your mortgage interest, but a tax credit that you claim each year when you file your taxes.

I want the tax credit, how do I qualify?

Qualifying is easy, there’s just one simple form to fill out, then we will handle the rest of the paperwork. Here are some details on how you can qualify:

  • 620 minimum credit score
  • Primary residence only
  • Must fall under county income levels – call us for current limits!
  • You can claim the tax credit for every year you live in the home for the life of the loan
  • Credit can be rolled forward and claimed up to 3 years
  • Non-veteran first time home buyers also can qualify
  • $450 additional fees for this program
  • Must take state-approved home buyer education class

MCC Rates:

Loan AmountMCC%(% of mortgage interests)Limit
$150,001 and up 20% No Limit
$100,001-$150,000 30% $2000
$100,000 or less 50% $2000
Rick Ward
Loan Officer and US Army Veteran 
NMLS #806490 | NMLS #2143

1755 Telstar Drive, Suite 309
Colorado Springs, Colorado 80920
P: (719) 229-0375
Email: rick.ward@benchmark.us
Ark-La-Tex Financial Services, LLC NMLS#2143


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