Colorado Springs is one of the most accessible major cities in Colorado from a home price standpoint — and that makes jumbo financing here genuinely meaningful in a way it isn’t in Denver or Boulder. El Paso County’s 2026 conforming loan limit is $832,750, the standard national baseline. With a citywide median home price of approximately
$447,000–$476,000, most buyers in Colorado Springs are purchasing comfortably within conventional loan limits. Jumbo financing is reserved for the neighborhoods and price points that represent Colorado Springs’ true upper tier: Broadmoor, Kissing Camels, Black Forest, Cedar Heights, and the premium end of Flying Horse and the Old North End.
These are not marginal purchases. The Broadmoor neighborhood — built around and named for the legendary five-star Broadmoor Hotel and Resort, nestled at the foot of Cheyenne Mountain — features estates with Italian Renaissance-inspired architecture, private access to the Cheyenne Mountain Country Club, and properties starting at $800,000 with the most significant reaching several million dollars. Kissing Camels is a gated community with dual guarded entrances, a 27-hole golf course, a spa, tennis courts, and swimming pools — with homes beginning at $1 million and the most sought-after golf course positions rarely available. Black Forest, northeast of the city, offers estate-sized wooded acreage properties with a genuinely rural character that sets it apart from every other Colorado Springs neighborhood — and multi-million-dollar listings that require portfolio lending at the top of the range.
The buyers active in this tier include senior defense contractor executives at Lockheed Martin Space, Northrop Grumman, RTX Corporation, and Booz Allen Hamilton — the program managers, cleared senior engineers, and corporate officers whose W-2 income plus compensation premiums for TS/SCI clearance positions produce household incomes that support upper-tier Colorado Springs real estate. It includes military retirees and veterans who have built significant careers in government service and the defense industry, often returning to Colorado Springs after assignments elsewhere because they’ve spent decades building roots here. And it includes physicians at UCHealth Memorial Hospital Central, CommonSpirit Penrose, and St. Francis whose income supports Broadmoor or Kissing Camels purchases but whose qualifying profile requires physician-specific loan programs. Ryan Lehrman, NMLS #235295, structures jumbo mortgage loans for all of these buyers.
A jumbo mortgage is any home loan exceeding the FHFA conforming loan limit for El Paso County — $832,750 for a single-family home in 2026. Unlike Denver and Boulder, where jumbo is the default for a large portion of buyers, Colorado Springs’ jumbo market is genuinely selective. A loan above $832,750 here represents approximately the top 10–15% of the market by price. That selectivity also means that buyers in this tier — and the properties they’re purchasing — carry a different profile, one that requires a lender experienced with upper-tier underwriting in a military-dominant market.
Because most Colorado Springs jumbo buyers are not purchasing at the absolute ceiling of their qualifying ability, the underwriting conversation can be more nuanced. A senior Lockheed Martin program manager with a household income above $250,000 purchasing a $1.1 million Kissing Camels home has a very different profile than a physician buying at that price point — different income documentation, different reserve expectations, different qualifying strategies. Working with a broker who structures the file correctly from the beginning avoids the missteps that generic lenders create when they attempt to apply one-size-fits-all guidelines to Colorado Springs’ distinctive upper-tier buyer pool.
Key Features of Colorado Springs Jumbo Loans
Loan amounts from $832,751 up to $3 million and above
Down payment options starting at 5% on primary residences up to approximately $2 million
10% down available on primary residences up to $3 million with strong qualifying profiles
Minimum credit score typically 680–720 depending on loan amount and LTV
Reserve requirements of 6–24 months PITI depending on loan size and lender
Defense contractor W-2 income plus clearance differentials, overtime, and allowances qualifying available
Primary residences, second homes, and select investment properties eligible
Fixed and adjustable-rate options across multiple terms
Loans from $832,751 to approximately $2–$3 million, covering most purchases in Broadmoor, Kissing Camels, upper Flying Horse, Cedar Heights, and the most significant Old North End properties. This is the primary jumbo tier for Colorado Springs upper-tier buyers, and the one where Ryan’s defense contractor income expertise matters most — ensuring that total compensation packages for cleared professionals at Lockheed Martin, Northrop, and RTX are documented and counted correctly.
Loans above $3 million serve the most significant Broadmoor estates, premier Kissing Camels positions, and Black Forest acreage properties at the upper end of their range. These transactions require portfolio lenders and private banking relationships.
Physicians at UCHealth Memorial, Penrose Hospital, and St. Francis purchasing in Broadmoor or Kissing Camels at prices above $832,750 access physician-specific jumbo programs that waive PMI, treat student loan debt favorably, and allow qualifying based on an employment contract before income history is established.
Broadmoor
The Broadmoor neighborhood is inseparable from the five-star Broadmoor Hotel and Resort — a National Historic Landmark operating since 1918, set against the red rock formations at the foot of Cheyenne Mountain. Residents access the Cheyenne Mountain Country Club, multiple resort amenities, private walking trails, and proximity to Seven Falls and the surrounding mountain parks. Properties start around $800,000 for the entry-level and reach several million for the most significant estates — historic mansions with grand architecture, manicured grounds, and Cheyenne Mountain views that are not available anywhere else in the city. Broadmoor is where Colorado Springs' longest-tenured executives, medical professionals, and established military retirees choose to live, and it is the city's definitive luxury address.
Kissing Camels
Kissing Camels is a gated community with dual guarded entrances offering what no other Colorado Springs neighborhood can: views of Pikes Peak, Garden of the Gods, and the distinctive rock formations for which the neighborhood is named, combined with a private 27-hole golf course, a fully staffed spa, tennis courts, an around-the-clock fitness center, and stocked fishing ponds — all within the HOA. Homes begin at $1 million and the most desirable positions on the golf course rarely come to market. The community attracts buyers who want the combination of resort-quality amenity access, genuine privacy, and proximity to downtown Colorado Springs — all without leaving the neighborhood.
Flying Horse
Flying Horse is Colorado Springs' most prominent master-planned luxury community, built around an award-winning golf course consistently ranked among Colorado's finest. Homes range from $600,000 to more than $2 million, with most built after 2010 — offering modern systems, energy efficiency, and resort-caliber finishes. The community includes a full-service clubhouse, athletic center, pools, tennis courts, and hiking trails. Flying Horse's Northgate location near the U.S. Air Force Academy makes it a natural destination for senior officers, defense executives, and established professionals who want an active, amenity-rich community in Colorado Springs' most desirable northern corridor.
Black Forest
Black Forest occupies the northeast quadrant of El Paso County, east of the city proper, and delivers something entirely different from Colorado Springs' in-town luxury neighborhoods: acreage. Properties here — ranging from two to ten acres and above on wooded, pine-covered terrain — provide the privacy, space, and rural character that buyers seeking estate-scale land cannot find anywhere within the city limits. Multi-million-dollar custom homes on substantial parcels represent the upper tier of Black Forest. The tradeoff is commute time; buyers in Black Forest are often established executives, successful contractors, or retired senior officers for whom the property itself is the primary attraction and distance to employment centers is secondary.
Old North End
Colorado Springs' historic Old North End occupies a different kind of prestige — 19th and early-20th century mansions on tree-lined streets walkable to downtown, many fully restored with updated interiors while maintaining historic architectural character. This is Colorado Springs' closest equivalent to a Mapleton Hill or Country Club district. Prices at the upper end of the Old North End, particularly for the most significant and best-restored properties, can approach or exceed the jumbo threshold, making it a relevant market for buyers who value urban walkability and historic character over resort amenities.
Defense contractor income expertise — Lockheed Martin, Northrop Grumman, RTX, Booz Allen, L3Harris, and CACI income structures documented and presented correctly to the lenders who count them most favorably
Military buyer fluency — understands how BAH, VA entitlement, and PCS timelines interact with upper-tier purchase decisions for senior officers and military retirees buying in Broadmoor or Kissing Camels
Multiple jumbo lender access — not one bank's product; programs matched to each buyer's specific income profile and property type
Physician jumbo capability — UCHealth Memorial and Penrose Hospital attending physicians buying at jumbo price points with program-specific underwriting accommodations
Colorado Springs market knowledge — understands what drives upper-tier pricing in each neighborhood and how to position each property's value argument to jumbo lenders
Confidential process — upper-tier buyers in Colorado Springs' close-knit military and defense community value discretion
Ryan Lehrman, NMLS #235295
Loan amount: Above $832,750 (El Paso County 2026 conforming limit); programs to $3 million and above
Credit profile: Typically 680 minimum; 720+ preferred for best pricing and lowest down payment requirements
Income documentation: W-2 including defense contractor overtime and differentials, self-employed, physician contract, and military retirement income all eligible with proper lender matching
Reserves: 6–24 months of PITI depending on loan size and lender; investment accounts, retirement assets (including TSP), and business reserves typically counted
Confidential consultation — Ryan reviews your income profile, target neighborhood, and purchase price range to identify the right lender and program before you enter the contract market
Income documentation strategy — defense contractor W-2s, clearance differential documentation, military retirement verification, physician employment contracts, and any other complex income materials organized for the strongest possible qualifying file
Pre-approval — lender-issued pre-approval letter sized to your target price; in Broadmoor and Kissing Camels, where listing agents represent significant transactions, a credible pre-approval letter matters
Property under contract — appraisal ordered, title opened, underwriting submitted with complete documentation package; Ryan manages the file from submission through conditions clearance
Closing — final conditions cleared; you take ownership of your Colorado Springs property with financing structured specifically for your situation
Yes, with correct documentation. Lockheed Martin's Colorado Springs compensation packages typically include a W-2 base salary, performance bonuses, and for classified positions, clearance differentials and special compensation components. Most lenders can count the base and performance bonus if it is reflected on two years of tax returns and current pay stubs. Clearance differentials and facility access pay are generally countable as well, with proper employer verification. The qualifying challenge arises when compensation includes non-recurring components or when the bonus structure varies year to year — which is common in defense. Ryan knows how to assemble a Lockheed Martin qualifying file that captures your real total compensation accurately and presents it to the jumbo lender most likely to apply the most favorable income calculation methodology.
Yes, and this combination is one of the most favorable qualifying profiles in Colorado Springs. Military retirement pay is guaranteed, non-taxable income that most lenders gross up by 25% — making its effective qualifying contribution higher than its face value. Your defense contractor W-2 salary adds on top of that base. Together, the combination produces a qualifying income figure that often supports purchase prices well into the Jumbo range. Ryan works with military retiree/contractor dual-income profiles regularly in the Colorado Springs market and knows which jumbo lenders treat this income combination most favorably.
Broadmoor has sustained its position as Colorado Springs' most prestigious residential address for over a century — a track record that speaks to structural demand rather than cyclical market dynamics. The neighborhood's adjacency to the Broadmoor Hotel (a National Historic Landmark operating since 1918), its Cheyenne Mountain setting, the Cheyenne Mountain Country Club, and the genuinely limited land available for new development at this location create a supply constraint that supports long-term value. Colorado Springs itself has demonstrated a five-year appreciation rate of 37.74% through early 2026, and the Broadmoor's premium positioning within that market has historically outperformed the city median. For buyers who are choosing Colorado Springs as a permanent or long-term base — military retirees, defense executives, senior physicians — Broadmoor represents one of the city's most defensible long-term value propositions.
Ready to finance your upper-tier Colorado Springs property? Schedule a confidential consultation today.
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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