Colorado Springs is one of the most distinctive mortgage markets in the country — not because home prices are the highest, but because the population buying homes here is unlike almost anywhere else. El Paso County is home to five military installations, approximately 45,000 active-duty personnel, and more than 100,000 veterans. Fort Carson — home to the 4th Infantry Division and 10th Special Forces Group, with roughly 36,000 military and civilian employees — is the second-largest employer in the state of Colorado. Peterson Space Force Base hosts NORAD Headquarters, U.S. NORTHCOM Headquarters, and Space Operations Command. Schriever Space Force Base operates the 50th Space Wing’s satellite control mission east of the city. The U.S. Air Force Academy sits just north of town. And Cheyenne Mountain Space Force Station anchors the southwest. Collectively, military and defense account for more than 40% of the Pikes Peak region’s economy.
Alongside that military foundation, Colorado Springs has built one of the nation’s most significant aerospace and defense contractor ecosystems. The region generated $2.8 billion in defense contract awards in FY2024 — the highest nominal value in the region’s history — supporting 250-plus aerospace and defense firms and 38,700 direct contractor positions. Lockheed Martin Space employs 3,200 people locally on programs including the Ground-based Midcourse Defense system and the Next Generation Interceptor. Northrop Grumman operates 2,800 personnel on ground segments for the Space-Based Infrared System. RTX Corporation maintains 1,600 in missile defense and cyber defense. Booz Allen Hamilton runs a Special Access Program facility supporting U.S. Space Command intelligence integration. L3Harris Technologies, SAIC, CACI, Leidos, General Dynamics, and KBR fill out a contractor roster that makes Colorado Springs one of the most active defense hiring markets in the nation.
This military and defense concentration creates a homebuyer profile that requires mortgage expertise most lenders don’t carry: VA loan specialists who understand the difference between full and partial entitlement, how BAH interacts with qualifying income, how PCS timelines affect the purchase process, and how VA One-Time Close Construction loans work for service members building in Wolf Ranch or Flying Horse. It also creates demand for Jumbo and Super-Jumbo programs from the contractor executives, cleared senior engineers, and upper-tier buyers purchasing in Broadmoor, Kissing Camels, and Black Forest. And it generates consistent physician demand from the medical professionals staffing UCHealth Memorial Hospital Central — one of only four Level I Trauma Centers in Colorado — and the CommonSpirit Penrose and St. Francis health systems.
Ryan Lehrman, NMLS #235295, has structured loans for every one of these buyer profiles. Colorado Springs is not a one-size-fits-all market, and the financing it requires isn’t either.
VA loan specialist — understands full vs. partial entitlement, BAH income qualifying, PCS timing, and VA One-Time Close Construction for active-duty buyers building in the Springs
Defense contractor income expertise — correctly documents W-2 plus overtime, clearance differentials, per diem, and allowances for Lockheed Martin, Northrop, RTX, and Booz Allen employees
Jumbo and Super-Jumbo depth — programs from $832,751 through $10 million and above for Broadmoor, Kissing Camels, Black Forest, and Flying Horse upper-tier buyers
Physician loan specialist — works with residents, fellows, and attendings across UCHealth Memorial, Penrose Hospital, and St. Francis Health System
One-Time Close Construction expertise — VA, conventional, and Jumbo construction programs for Wolf Ranch, Banning Lewis Ranch, Flying Horse North, and custom lot builds across El Paso County
PCS-ready process — pre-approvals structured for buyers arriving on orders who need to close on a timeline that serves the military
Independent broker — access to dozens of lenders and programs, not one institution's product shelf
Transparent, no-surprise process — every cost, every step, explained before you sign anything
Ryan Lehrman, NMLS #235295
El Paso County’s 2026 conforming loan limit is $832,750 — the standard national baseline. Colorado Springs’ median home price sits around $447,000–$476,000, which means jumbo financing is genuinely reserved for the upper tier of the market here: Broadmoor estates starting at $800,000 and running to several million, Kissing Camels properties at $1 million and above, Black Forest acreage estates, and the premium end of Flying Horse and Cedar Heights. For these buyers, Ryan structures jumbo loans from $832,751 through $3 million and above, with programs available at 5% down on primary residences.
The Broadmoor neighborhood’s most significant estates, premier lots in Kissing Camels, and custom Black Forest properties on multiple acres trade at prices that require Super-Jumbo financing — loans above $3 million structured through portfolio lenders with relationship-driven underwriting. Colorado Springs’ defense contractor executive population, senior cleared engineers at premium compensation, and buyers relocating from coastal markets where Springs pricing represents significant value make up this buyer tier.
UCHealth Memorial Hospital Central — 413 beds, Level I Trauma, the only Comprehensive Stroke Center in southern Colorado, affiliated with the CU Cancer Center — anchors physician demand in Colorado Springs. CommonSpirit Penrose Hospital (364 beds, Level II Trauma, founded 1890) and St. Francis Hospital (Flight for Life Colorado home base, Level IIIA NICU) round out a healthcare ecosystem that generates consistent physician buyer demand. Physician mortgage loans eliminate PMI, treat student loan debt favorably, and allow qualifying on an employment contract before attending income begins.
Colorado Springs issued 2,811 single-family home permits in 2025 across communities including Wolf Ranch, Banning Lewis Ranch, Flying Horse North, Cordera, Meridian Ranch, Percheron, and Gold Hill. The VA One-Time Close Construction program — available to eligible veterans and active-duty service members with full entitlement and no loan limit — is one of the most powerful financing tools available in a market this deeply military. Conventional and Jumbo One-Time Close programs serve civilian buyers and contractor families building custom homes across El Paso County.
No other city in Colorado produces more VA loan transactions than Colorado Springs. With approximately 45,000 active-duty personnel and more than 100,000 veterans in El Paso County — and 350-plus service members transitioning out of the military every month — the VA home loan benefit is in constant use across every price point and every neighborhood. VA loans offer zero down payment, no PMI, and no loan limit for borrowers with full entitlement. El Paso County’s effective property tax rate of 0.51% makes the monthly carrying cost on a Colorado Springs home meaningfully lower than equivalent-priced properties in Texas and most other military markets. For PCSing buyers arriving on orders, Ryan structures pre-approvals based on gaining-station BAH before the buyer even arrives in Colorado Springs — so they can compete from day one.
Colorado Springs’ defense contractor workforce presents qualifying nuances that standard lenders frequently mishandle. Cleared engineers at Lockheed Martin, Northrop Grumman, RTX, and Booz Allen earn W-2 base pay that is straightforward to document — but total compensation packages frequently include overtime pay, classified facility differentials, per diem, and performance bonuses that require specific documentation to count correctly toward qualifying income. TS/SCI clearances command salary premiums that are real and recurring, but a lender who doesn’t understand the contractor pay structure may undercount them. Senior cleared professionals and program managers in the Colorado Springs defense ecosystem are consistent buyers in the $600,000–$1.2 million range — often financing with Jumbo programs — and Ryan knows how to build their qualifying files correctly.
Colorado Springs’ median home price of approximately $450,000–$476,000 sits well below the state median and dramatically below Denver’s — making it one of the most affordable major military cities in the country on an absolute basis. But the city’s stability is structural. Five military installations cannot be relocated. U.S. Space Command is headquartered here permanently. Pikes Peak, Garden of the Gods, and the Broadmoor ensure tourism and resort demand. The five-year appreciation rate of 37.74% through early 2026, despite a recent softening, reflects a market that has strong long-term demand anchors that non-military markets simply don’t have. For buyers who are buying here as permanent residents rather than PCSing — defense contractors, medical professionals, military retirees — the long-term case for Colorado Springs real estate is well-supported.
El Paso County's 2026 conforming loan limit is $832,750 — the standard national baseline. Unlike Denver, Boulder, and some mountain counties, El Paso County is not a high-balance or high-cost area under FHFA guidelines. This means the jumbo threshold is $832,751 — and given Colorado Springs' median home price of approximately $447,000–$476,000, most buyers are well within conforming loan territory. Jumbo financing applies primarily to buyers purchasing in Broadmoor, Kissing Camels, Black Forest, and the upper tier of Flying Horse and Cedar Heights.
Basic Allowance for Housing is non-taxable income, and most VA and conventional lenders gross it up by 25% for qualifying purposes — meaning your effective qualifying income from BAH is higher than the dollar amount you receive. For an E-6 with dependents at Fort Carson, 2026 BAH runs approximately $2,400 per month, which grossed up supports meaningful purchasing power. Paired with your base pay and any special pays, the combined qualifying income for a mid-career NCO or junior officer in Colorado Springs can support a purchase well above the median price. Ryan structures pre-approvals for Fort Carson buyers on PCS orders using gaining-station BAH before arrival, so your home search starts the moment you have orders.
Yes. UCHealth Memorial Hospital Central and CommonSpirit Penrose Hospital both operate graduate medical education programs and train residents across multiple specialties. Residents in accredited programs at either institution qualify for physician mortgage loans based on their residency enrollment documentation and current stipend — without requiring a full two years of attending income history or a conventional down payment. Student loan balances are treated at the IBR/IDR monthly payment rather than the full standard repayment figure, which meaningfully expands purchasing power for residents carrying significant medical school debt.
Yes — and the VA One-Time Close Construction loan makes it even more powerful. Eligible veterans and active-duty service members with full entitlement have no VA loan limit, meaning you can finance a new build in Wolf Ranch, Flying Horse North, or any other Colorado Springs community without being capped at the county conforming limit. The One-Time Close structure locks your rate before construction begins, converts automatically to permanent financing upon certificate of occupancy, and requires only a single closing — eliminating the risk of rate changes and repeat closing costs associated with two-loan construction financing. Ryan structures VA One-Time Close loans specifically for Colorado Springs buyers building in the city's most active new construction communities.
I’m here to support you every step of the way. If you’re ready to turn your home financing goals into your new reality, let’s work together.
Originally from Harrisburg, Pennsylvania, I moved to Phoenix to attend Arizona State University and have proudly called Phoenix home ever since.
My journey into the mortgage industry began with a friend’s encouragement, who saw how my energy and people-first mindset could make a difference. He was right — I found my calling.
I’ve always embraced what makes me different. With ADHD as my secret weapon, I thrive in fast-paced, detail-heavy environments. I’ve built my career on clear communication, creative problem-solving, and putting clients first, always.
Outside of work, my greatest motivation is my wife and three amazing kids. I’d be honored to help guide you through your lending journey with care, clarity, and commitment.
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