If you’re deciding between two Falcon homes, send us both. Seeing the estimated payments side by side may confirm what you’re already thinking, or it may reveal something you hadn’t considered.If you’re looking for the best Falcon mortgage broker, Edge Mortgage, Inc. is your trusted choice. Whether you’re buying your first home, relocating to the Colorado Springs area, looking for more space, or refinancing a home you already own, understanding your mortgage options can help you make a more confident decision.
At Edge Mortgage, Inc., we help Falcon homebuyers and homeowners look beyond the interest rate to understand the complete financing picture. Your loan program, down payment, monthly payment, cash needed to close, property taxes, homeowners insurance, and longer-term goals all matter. In an area where property types can vary considerably, understanding the home itself can be just as important as understanding your financing.
Falcon, Colorado is an unincorporated community in eastern El Paso County located northeast of Colorado Springs. The broader Falcon area has grown from its rural roots into a community that includes established neighborhoods, newer residential development, larger lots, acreage properties, shopping, schools, and open spaces while maintaining a more spread-out feel than much of Colorado Springs. Residents have access to community recreation, parks and trails throughout eastern El Paso County, while the area’s location provides convenient access to Colorado Springs and nearby Schriever and Peterson Space Force Bases. With a population of approximately 23,000 people, Falcon can appeal to buyers who want access to the Colorado Springs employment market while looking for newer neighborhoods, more space, or a setting farther from the center of the city.
What Is It Like to Buy a Home in Falcon?
One of the first things to understand about buying a home in Falcon is that Falcon isn’t an incorporated town with clearly defined municipal boundaries. The name is commonly used for a broader area of unincorporated El Paso County northeast of Colorado Springs.
That matters when you’re researching homes. Two properties described as being in Falcon may have different taxing districts, utilities, water or wastewater arrangements, HOA or metropolitan district expenses, lot sizes, and property characteristics.
This is one reason Edge Mortgage doesn’t want your mortgage pre-approval to be the end of the financing conversation. Pre-approval gives us the foundation, but once you find a Falcon property you like, send it to us.
We can make the numbers specific to the home you’re actually considering.
Why Does the Property Matter So Much When Buying in Falcon?
Falcon can give buyers a broader mix of properties than they may encounter in a more densely developed part of Colorado Springs.
You may be looking at a home in a newer subdivision with an HOA and metropolitan district. Another property may have a larger lot or acreage. Depending on the property and location, utilities, wells, septic systems, outbuildings, or other characteristics may also become part of the conversation.
Those differences don’t necessarily make financing difficult. They simply mean we shouldn’t assume that every Falcon home should be approached the same way.
At Edge Mortgage, we can review a property before you make an offer and identify anything that deserves a closer look from a financing standpoint.
The property matters just as much as the borrower.
Why Do Property-Specific Numbers Matter in Falcon?
If two Falcon homes are both listed for $600,000, that doesn’t mean they’ll have identical monthly payments.
Property taxes, homeowners insurance, HOA dues, metropolitan or special district expenses, mortgage insurance when applicable, and your financing structure can all change the overall cost.
That’s why we use a simple principle at Edge Mortgage:
The purchase price is not the payment.
Once you’ve identified a property, we can use available property-specific information rather than relying solely on broad estimates. The El Paso County Assessor is one useful resource for researching individual properties and their assessed information.
Which Mortgage Options Are Available for Falcon Homebuyers?
There isn’t one mortgage program that’s automatically best for someone buying in Falcon. Your credit, income, down payment, military eligibility, property type, and financial goals all influence which options are worth considering.
Conventional Loans
Conventional financing can work for first-time buyers, repeat buyers, and many different types of Falcon properties.
It also gives us opportunities to compare down payments. If you have additional cash available, putting more money down could lower your monthly payment or affect mortgage insurance. Keeping some of that cash available after closing may be more important to you.
Edge Mortgage can run those scenarios side by side so you can see the tradeoffs instead of assuming more money down is always better.
FHA Loans
FHA financing may offer additional flexibility for buyers with smaller down payments or certain credit and debt-to-income situations.
Property condition matters with FHA financing. That’s especially worth considering if you’re looking at an older Falcon property or something outside a typical subdivision.
If a home catches your attention and you’re unsure whether the property could create a financing issue, send us the listing. It’s much easier to investigate before you make an offer.
VA Loans
VA financing deserves particular attention in Falcon because of the area’s connection to Colorado Springs’ military and space installations.
Schriever Space Force Base is approximately 10 miles east of Colorado Springs and today supports about 8,000 military and civilian employees. There’s also an interesting piece of Falcon history: the installation began as Falcon Air Force Station in the 1980s and was later Falcon Air Force Base before being renamed for Gen. Bernard Schriever.
Eligible veterans, active-duty service members, and qualifying surviving spouses may be able to purchase a qualifying Falcon property using VA financing, including the possibility of purchasing with no down payment for eligible borrowers, subject to VA requirements.
Edge Mortgage can help you understand your VA benefit, property requirements, funding fee considerations, and how VA financing compares with your other options.
USDA Loans
Falcon’s location also makes USDA worth discussing differently than we would in many suburban markets.
USDA eligibility is property-specific, so we should never assume that a Falcon address qualifies simply because the area has rural characteristics. The property must be located in an eligible area, and the borrower must meet applicable program requirements.
If you’re considering a Falcon property and want to know whether USDA financing might be possible, Edge Mortgage can check the actual address rather than guess.
Other Mortgage Options
Self-employed income, investment properties, acreage, unique homes, or other circumstances may require a different financing strategy.
You don’t need to figure out the loan program before contacting us.
That’s part of what Edge Mortgage is here to help you determine.
Buying a Falcon Home With Acreage or a Larger Lot
For some buyers, having more space is one of the reasons Falcon is appealing in the first place.
Acreage doesn’t automatically prevent a home from qualifying for traditional mortgage financing. What matters is the complete property, including the home, land, intended use, improvements, utilities, appraisal, and available comparable sales.
A property with a house and several acres used residentially can be very different from a property whose value or intended use is primarily agricultural or commercial.
If you’ve found a Falcon acreage property, send us the listing before assuming you need a specialty loan. Edge Mortgage can review what you’re considering and help determine which financing paths deserve a closer look.
What Should Falcon Buyers Know About Wells and Septic Systems?
Some properties in the broader Falcon area may use private wells or septic systems rather than municipal water and sewer.
That doesn’t automatically make a property difficult to finance. However, the loan program, property, water source, septic system, inspections, and other circumstances can affect what documentation or testing may be required.
This is another reason I don’t want buyers eliminating a property based on something they heard online.
If you find a Falcon home with a well, septic system, or another property feature you’re concerned about, let Edge Mortgage review it with you. We can determine what may be required for the financing you’re considering.
First-Time Homebuyers in Falcon
If you’re buying your first home, it’s easy to focus on one question: How much can I qualify for?
I’d rather start with another one: What payment are you comfortable with?
Those numbers don’t have to be the same.
Your total housing expense may include principal and interest, property taxes, homeowners insurance, mortgage insurance when applicable, HOA dues, and other applicable property expenses. You also need to understand your cash needed to close, which can include more than your down payment.
Our First-Time Homebuyers guide can help you understand what to expect before you’re ready to make an offer.
And you don’t need to wait until you’ve found a Falcon home to contact Edge Mortgage. Starting several months early can give us time to answer questions, identify opportunities, and build a plan before you’re competing for a property you want.
Are There Colorado Down Payment Assistance Programs?
Some Falcon buyers may qualify for Colorado homeownership programs available through the Colorado Housing and Finance Authority, or CHFA.
CHFA offers home loans through participating lenders as well as down payment and closing-cost assistance options. Current assistance can include grants or second mortgage options for eligible borrowers, subject to program requirements.
Qualifying for assistance doesn’t automatically mean using it is the best financial decision.
Rates, costs, repayment requirements, eligibility rules, and your own available funds all matter. Edge Mortgage can help you compare the available choices so you understand what you’re gaining and what you’re giving up with each option.
Then you can make the decision.
Buying New Construction in Falcon
Newer residential development is an important part of the Falcon housing market, which means some buyers may find themselves comparing a resale home with new construction.
If you’re buying from a builder, you may be offered closing-cost credits, an interest-rate incentive, or another financial benefit for using the builder’s affiliated lender.
Those incentives can absolutely have value, but I don’t want the size of the incentive to make the decision for you.
Edge Mortgage can compare the builder’s financing with other available options by looking at the interest rate, APR, discount points, lender fees, builder credits, estimated monthly payment, cash needed to close, and rate-lock terms.
If the builder’s lender has the better deal after everything is compared, great. You’ll know why it’s the better deal.
Moving to Falcon for the Military
Military relocations can happen quickly, and buying a home while managing PCS orders, report dates, housing decisions, and a move creates a different kind of timeline.
Falcon’s position on the eastern side of the Colorado Springs area can make it relevant to households connected with Schriever and Peterson Space Force Bases. Schriever is east of Colorado Springs, while Peterson is located within Colorado Springs and supports numerous military and space mission partners.
If you’re relocating to the area, Edge Mortgage can begin the financing process before you arrive. We can review your VA eligibility when applicable, income and assets, discuss realistic payment ranges, and help you understand the financing before you have to make a housing decision.
You don’t need to know every neighborhood yet. We can start with what you do know and build from there.
Can Seller Concessions Help Falcon Homebuyers?
Depending on the transaction and loan program, seller concessions may allow a seller to contribute toward certain eligible closing costs.
The more useful question is what you would want an available concession to accomplish.
One buyer may benefit most from reducing the cash required at closing. Another may want to explore whether eligible funds could be used toward an interest-rate buydown.
That’s why Edge Mortgage likes to have the financing conversation before the offer is written. If we understand what would actually benefit you, your real estate agent has better information when discussing possible offer terms.
What Should You Know Before Making an Offer in Falcon?
Before you make an offer, I want you to understand more than the purchase price shown on your pre-approval letter.
Once you find a home, Edge Mortgage can update your estimated payment using property-specific taxes, homeowners insurance, HOA or applicable district expenses, mortgage insurance when applicable, and the financing structure you’re considering. We can also update your estimated cash needed to close.
For acreage or properties with unusual characteristics, we can also discuss whether there’s anything about the home that deserves additional review before you commit.
If you’re choosing between two Falcon homes, send us both.
Sometimes the numbers confirm your favorite. Sometimes they give you a completely different perspective.
Either way, wouldn’t you rather know before you make the offer?
Self-Employed Homebuyers in Falcon
If you’re self-employed, qualifying for a mortgage can work differently from qualifying with traditional W-2 income.
Your tax returns, business structure, length of self-employment, and the way income is reported can all affect how a lender calculates qualifying income. The time to work through that isn’t after you’ve already fallen in love with a Falcon home.
Our guide to Can I Buy a House While Self-Employed? explains some of the documentation and financing considerations self-employed borrowers may encounter.
Edge Mortgage can review your information early. You don’t need to calculate qualifying income yourself. Send us what you have, and we’ll help determine how your income may be evaluated for mortgage purposes.
What About Refinancing a Home in Falcon?
Buying isn’t the only reason you may be searching for a Falcon mortgage broker.
If you already own a home in Falcon, you may eventually want to know whether your current mortgage still supports what you’re trying to accomplish. Perhaps you’re considering a lower payment, a shorter loan term, removing mortgage insurance, consolidating higher-interest debt, or using equity for home improvements.
The important question isn’t simply whether you can refinance. It’s whether you should.
At Edge Mortgage, we can compare your current mortgage with the proposed financing, review the costs and potential savings, and calculate the approximate break-even period.
If refinancing improves your position, we’ll explain why. If the mortgage you already have is the better option, we’ll tell you that too.
Why Work With Edge Mortgage as Your Falcon Mortgage Broker?
Falcon buyers can encounter everything from new construction in a planned neighborhood to acreage outside a subdivision. That makes having mortgage options and someone willing to look closely at the property especially valuable.
More Mortgage Options
As a mortgage broker, Edge Mortgage, Inc. can compare programs and pricing through multiple lenders instead of being limited to one bank’s products.
Property-Specific Guidance
We don’t assume that every Falcon address should be financed the same way. Once you’ve identified a home, we’ll look at the actual property and financing together.
Strong Pre-Approvals
A pre-approval should be more than a letter with a maximum purchase price. We review your financial information, discuss your goals, and help you understand the financing before you’re ready to make an offer.
Military and VA Experience
For eligible military households and veterans, we can help explain VA financing and how it compares with other mortgage options available to you.
Solutions for Real-Life Borrowers and Properties
Edge Mortgage works with first-time buyers, veterans, move-up buyers, self-employed borrowers, investors, and buyers considering properties that may require a little more investigation.
Our goal isn’t to tell you which mortgage to choose.
It’s to give you enough information to understand why you’re choosing it.
Real Clients. Real Results.
One of the things I value most is hearing that our clients felt informed and supported throughout the mortgage process. Buying or refinancing a home can involve a lot of moving pieces, and our job at Edge Mortgage is to make sure the financing isn’t the part that leaves you guessing.
Great service, Keri really helped me understand everything and took the time to explain no matter how many times I asked the same questions!
Love her and Love my first new house!! – Malaika F.
Frequently Asked Questions About Falcon Mortgages
Is Falcon, Colorado a city?
No. Falcon is an unincorporated community in El Paso County northeast of Colorado Springs. Because “Falcon” can describe a broader area rather than incorporated municipal boundaries, buyers should verify the specific property’s location, taxes, utilities, HOA or district information, and other property details.
Is Falcon, Colorado a good place to buy a home?
Falcon may appeal to buyers looking for access to the Colorado Springs area with a mix of newer neighborhoods, established homes, larger lots, and acreage opportunities. Whether it’s right for you depends on your budget, commute, preferred property type, and longer-term goals.
How many people live in Falcon, Colorado?
Because Falcon is an unincorporated community rather than an incorporated municipality, population figures depend on the geographic boundaries used to define the Falcon area. For that reason, Edge Mortgage uses the most appropriate Census geography available rather than presenting a broader ZIP-code population as though it were the population of a town.
Can I use a VA loan to buy a home in Falcon?
Eligible veterans, active-duty service members, and qualifying surviving spouses may use VA financing to purchase qualifying Falcon properties, subject to VA and lender requirements.
Can I use a USDA loan to buy a home in Falcon?
Potentially. USDA eligibility depends on the specific property’s location as well as borrower and program requirements. A Falcon mailing address or rural setting doesn’t automatically establish eligibility, so the individual address should be checked.
Can I finance acreage in Falcon?
Potentially. Acreage alone doesn’t determine mortgage eligibility. The residence, land, improvements, intended use, appraisal, utilities, and other property characteristics can all affect financing.
Can I finance a Falcon property with a well or septic system?
Potentially. Properties with private wells and septic systems are commonly financed, although the property and loan program may determine whether inspections, testing, or additional documentation are required.
Does Edge Mortgage work with self-employed Falcon buyers?
Yes. Edge Mortgage can review self-employed income and documentation before you begin making offers and help determine how your income may be evaluated for mortgage qualification.
Can Edge Mortgage help me refinance my Falcon home?
Yes. Edge Mortgage can compare your existing mortgage with available refinance options and help determine whether refinancing supports your financial goals. Being able to refinance doesn’t necessarily mean doing so makes financial sense, which is why we start with the numbers.
Ready to Buy or Refinance a Home in Falcon?
Maybe you’ve already found a Falcon home you love. Maybe you’re comparing communities throughout Southern Colorado, or perhaps you simply know you’d like more space and aren’t sure yet what you can comfortably afford.
You don’t need to have everything figured out before we talk. Edge Mortgage can start with where you are today, look at your financing options, and help determine what makes sense as the next step. Sometimes that means getting pre-approved now. Other times, it means putting a plan together so you’re ready later.
Ready to talk through your options? You can schedule a strategy call at a time that works for you, or call Edge Mortgage, Inc. at 970-744-0000.
Edge Mortgage, Inc. is a Colorado Mortgage Broker serving homebuyers and homeowners in Falcon and communities throughout Colorado. We also serve Nebraska, Ohio, and Wyoming.
Explore More Southern Colorado Communities
Falcon is one of several communities buyers may consider when deciding where to live in Southern Colorado. Our guide to the Best Places to Live in Southern Colorado can help you explore the region and compare your options.
You can also learn more about buying a home in Colorado Springs and Monument.
