Aurora is one of the most active new construction markets in the Denver metro — and it is getting more active. The Aurora Highlands, a 4,000-acre master-planned community in southeast Aurora, is one of the largest new community developments in Colorado, with seven builders currently selling homes across collections ranging from the mid-$500,000s to the high $700,000s and above. Painted Prairie, an award-winning neo-traditional community adjacent to Denver International Airport and the Gaylord Rockies Resort, received the National Association of Home Builders’ Community of the Year award in 2022 and the nationwide Best Landscape Community award the same year — with eight builders, over 30 floor plans, and homes from the mid-$400,000s to $1 million. Sky Ranch in Adams County (Lennar, KB Home, mid-$300,000s to mid-$500,000s) offers the most accessible new construction price points in Aurora. Prairie Point, breaking ground in 2025 with homes for sale beginning in 2026, introduces 1-acre estate lots and a range of home types adjacent to Cherry Creek Reservoir — poised to become one of Aurora’s most distinctive new communities.
What makes Aurora’s new construction market uniquely powerful for One-Time Close Construction loans is its military population. Buckley Space Force Base — in central Aurora, home to Space Base Delta 2, the 460th Space Wing, Space Delta 4, the Colorado Air National Guard’s 140th Wing, the National Reconnaissance Office’s Aerospace Data Facility-Colorado, and the Denver Naval Operations Support Center — puts a large and active VA-eligible buyer pool within 10–20 minutes of the metro’s most active master-planned new construction communities. VA One-Time Close Construction loans are available to eligible veterans and active-duty service members with full entitlement at no loan limit, zero down payment, and no PMI — one of the most powerful financing tools available anywhere, in one of the most active new construction markets in Colorado.
The Anschutz Medical Campus adds a second major buyer cohort: physicians, researchers, and healthcare professionals building new homes in communities like Aurora Highlands and Painted Prairie that offer the Cherry Creek School District access, newer construction standards, and community amenities that this professional population consistently seeks. One-Time Close physician construction programs combine the single-closing, rate-locked structure with physician-specific qualifying accommodations for this buyer group.
Ryan Lehrman, NMLS #235295, structures One-Time Close Construction loans across Aurora’s full range of build scenarios — VA for military buyers, conventional for standard community builds, Jumbo for Aurora Highlands and Painted Prairie upper-tier specifications, and physician programs for Anschutz Medical Campus-affiliated buyers building in the city’s most desirable communities.
A One-Time Close Construction Mortgage Loan — also called a Construction-to-Permanent or Single-Close loan — combines the construction financing and the permanent mortgage into a single loan with a single closing, executed before construction begins.
The loan moves through three phases:
The Construction Phase: Funds are disbursed to your builder in draws as verified construction milestones are completed. You make interest-only payments on the drawn balance. Your permanent rate is locked at closing before the first board is placed — so you carry no rate risk during the build, whether it takes 8 months or 16 months to complete.
The Conversion Phase: Upon receipt of the certificate of occupancy, the loan automatically converts from construction financing to permanent mortgage financing. No second closing. No second appraisal. No second set of closing costs. No additional underwriting.
The Permanent Phase: Regular amortizing mortgage payments begin at the locked rate, regardless of where market rates have moved during the build.
Key Features of Aurora One-Time Close Construction Loans
Single closing, single appraisal, single set of closing costs
Rate locked before construction begins — protected from market rate movements during the build
Automatic conversion to permanent financing upon certificate of occupancy
Interest-only payments during the draw period
VA, conventional, Jumbo, and Physician program options all available
Works with production builders in Aurora Highlands, Painted Prairie, Sky Ranch, and surrounding communities
Works with custom builders on independent Aurora lots
Primary residences, second homes, and select investment properties eligible
Metropolitan district mill levy impact addressed at consultation
The most powerful construction financing tool in Aurora for eligible military buyers, and the one most directly relevant to Buckley Space Force Base personnel. Eligible veterans and active-duty service members with full entitlement have no VA loan limit — meaning they can build in Aurora Highlands, Painted Prairie, or any other Aurora community without a conforming limit cap, with zero down payment and no PMI.
VA construction loans require working with a VA-approved builder who meets VA inspection and progress requirements. Most major Aurora production builders — Richmond American, Taylor Morrison, Century Communities, Lennar, KB Home, David Weekley — are VA-approved or can readily obtain VA builder approval. Ryan coordinates the VA builder approval process and structures the loan to accommodate the specific builder the buyer has selected.
For Buckley SFB personnel on PCS orders who want to build rather than buy resale — and who need the construction timeline to coordinate with BAH and family arrival — Ryan structures VA One-Time Close pre-approvals in advance of the move, so construction can begin on the buyer’s schedule rather than waiting for arrival paperwork to process.
For builds where the total project cost — lot, construction, finishes, and soft costs — falls within the Denver metro high-balance conforming limit of $862,500 for Aurora’s Arapahoe, Adams, or Douglas county addresses. This covers most production builds at Sky Ranch (Lennar mid-$500,000s, KB Home $300,000s–$500,000s), entry-tier Aurora Highlands (Century Communities mid-$500,000s to low-$600,000s), and Painted Prairie standard floor plans from the mid-$400,000s to $600,000s. Standard programs offer the best rates and lowest down payment requirements for non-VA buyers.
For builds where the total project cost exceeds $862,500 — covering Aurora Highlands’ Richmond American Estate collection, Taylor Morrison’s upper-tier plans, Bridgewater Homes’ 17 semi-custom designs, David Weekley’s Vistas pre-sale program at the premium end, and any Painted Prairie build with significant upgrades or lot premiums that push total project cost above the conforming limit. Jumbo One-Time Close programs maintain the single-closing, rate-locked structure while extending financing to $2–$3 million and above. Down payment requirements are typically 10–20% depending on total project cost and lender.
Physicians building in Aurora — whether in a production community like Aurora Highlands or Painted Prairie near the Anschutz Medical Campus, or on a custom lot in southeast Aurora — can combine physician-specific qualifying (no PMI, IBR/IDR student loan treatment, employment contract qualifying for residents building ahead of attending transitions) with the single-closing One-Time Close structure.
Aurora Highlands
The Aurora Highlands is a 4,000-acre master-planned community in southeast Aurora that has become one of Colorado's most-watched new development stories. The scale is genuinely large — designed for thousands of homes across multiple phases, with commercial centers, parks, schools (Aurora Highlands P-8 is already open, with four school sites planned and a high school scheduled for 2028), and trails built as the community develops. Seven builders are currently active: Richmond American Homes (Estate, Landmark, Seasons, and Urban collections), Taylor Morrison (Landmark, Town, and Horizon collections), Tri Pointe Homes (Crescendo, Prelude, and Ensemble collections), Century Communities (Colorado Collection), Bridgewater Homes (17 semi-custom designs), Risewell Homes, and David Weekley (Vistas Collection, pre-selling). Lennar is listed as coming soon. The range of product types — from paired homes and townhomes to semi-custom single-family — at price points from the mid-$500,000s to the high $700,000s and above gives buyers meaningful choice at nearly every budget level within this community. Aurora Highlands sits in Arapahoe County, within the Cherry Creek School District, making it one of the few new construction communities in the metro that combines CCSD access with the amenity scale of a 4,000-acre master plan.
Painted Prairie
Painted Prairie is Aurora's most architecturally distinctive master-planned community — a neo-traditional neighborhood built around a walkable town center, 30+ acres of open space, and front-porch architecture that deliberately evokes community connection rather than suburban isolation. The NAHB named it the national Community of the Year in 2022 and Best Landscape Community nationwide the same year. Eight builders offer over 30 floor plans from the mid-$400,000s to $1 million, including David Weekley, KB Home, Wonderland, Lennar, and Berkeley Homes. Painted Prairie's location is one of its defining assets: adjacent to the Gaylord Rockies Resort & Convention Center, walking distance from Peña Station NEXT light rail (direct connection to Denver Union Station and Denver International Airport), and within a 10-minute drive of the Anschutz Medical Campus, Rocky Mountain Regional VA Medical Center, and Buckley Space Force Base. That combination of lifestyle, transit, and employer proximity creates a buyer profile that includes both Anschutz healthcare workers and Buckley SFB military families — making it one of Aurora's most VA-loan and physician-loan-active new construction communities.
Sky Ranch
Sky Ranch is Aurora's most accessible new construction market, located in Adams County on the city's north side. Lennar's Pioneer Collection runs from the mid-$500,000s to high-$500,000s; KB Home's Sky Ranch Villas range from the high-$300,000s to high-$500,000s for more compact villa-style homes. For VA buyers at Buckley SFB who want new construction at a price point that zero-down VA financing covers comfortably — without needing a loan near or above the conforming limit — Sky Ranch represents one of the best-positioned communities in the city. The Adams County location (still $862,500 conforming limit) and Buckley's relatively short commute distance make Sky Ranch a practical choice for military families who want the new construction experience without the price premium of Aurora Highlands or Painted Prairie.
Prairie Point
Prairie Point is Aurora's newest master-planned community, breaking ground in 2025 with homes for sale beginning in 2026. Located adjacent to Cherry Creek Reservoir and connected to the Cherry Creek Trail System via a Parker Road pedestrian bridge, Prairie Point plans a range of residential types from 1-acre estate lots to multi-family, with a Mountain Modern architectural direction. Builder partnerships were being confirmed through early 2026. Prairie Point is designed as a Metropolitan District community — infrastructure and amenities funded through an additional mill levy — and represents Aurora's most estate-oriented new construction offering when fully built out. Estate lots at 1-acre scale, adjacent to Cherry Creek Reservoir, within commuting distance of the Anschutz campus and the Denver Tech Center, represent a construction opportunity that would require Jumbo One-Time Close financing for virtually any buyer building at a competitive scope and finish level.
Construction loan depth — structures VA construction loans for Buckley Space Force Base personnel building in Aurora Highlands, Painted Prairie, Sky Ranch, and custom lots; understands VA builder approval, VA inspection requirements, and PCS timeline coordination
Aurora builder familiarity — knowledge of Richmond American, Taylor Morrison, Century Communities, David Weekley, KB Home, Lennar, and Bridgewater's product lines, VA approval status, and construction timelines
Full program range — VA, conventional, Jumbo, and Physician One-Time Close programs covering every buyer type and price point in Aurora's new construction market
Anschutz physician construction programs — residents and attendings at UCHealth and Children's Hospital building in Painted Prairie, Aurora Highlands, and custom lots across Aurora
Metropolitan district mill levy guidance — Aurora's master-planned communities use Metropolitan District financing; Ryan explains total mill levy implications for monthly payment and DTI before you sign a builder contract
Cherry Creek Reservoir and Prairie Point estate familiarity — estate lot construction financing at Jumbo or Super-Jumbo tier for Prairie Point buyers building in the 1-acre estate tier
Rate-lock expertise — Aurora production builds typically run 8–12 months; semi-custom and custom builds can run 12–18 months; Ryan advises on rate lock structure and extension options appropriate for each project's realistic timeline
Ryan Lehrman, NMLS #235295
Borrower profile: Primary residences, second homes, and select investment properties eligible; VA program for eligible veterans and active-duty service members with qualifying entitlement; standard income documentation for conventional programs; physician and Jumbo programs with program-specific qualifying criteria
Builder requirements: VA-approved builder required for VA One-Time Close (Richmond American, Taylor Morrison, Century Communities, Lennar, KB Home, and David Weekley are all VA-approved or readily approvable); licensed and insured Colorado contractor required for conventional, Jumbo, and Physician programs; custom builders require license verification, insurance, signed contract, and itemized budget
Project documentation: Production builder specs or architectural plans; signed builder contract with itemized budget including contingency (typically 5–10%); as-completed appraisal supporting total project value; VA Certificate of Eligibility for VA programs; Metropolitan district mill levy disclosure for Aurora Highlands, Painted Prairie, Sky Ranch, and Prairie Point
Down payment: 0% for VA programs with full entitlement; typically 5% for standard conventional; 10–20% for Jumbo One-Time Close; physician programs may offer lower requirements depending on loan amount and program
Pre-construction consultation — Ryan reviews your builder, community, project budget, income profile, and VA entitlement status (if applicable) to confirm the right program before you sign a builder contract; Metropolitan district mill levy is calculated and included in the payment analysis for Aurora Highlands, Painted Prairie, Sky Ranch, and Prairie Point; county designation is confirmed for conforming limit purposes
Documentation assembly — VA Certificate of Eligibility and service documentation for VA programs; production builder specs or architectural plans; builder contract with itemized budget; builder VA approval documentation; standard income and asset documentation; physician appointment letter or attending contract for physician construction programs
Construction appraisal — lender orders an appraisal based on plans and specs to establish the as-completed value; for VA loans, the appraiser must be VA-approved and the property must meet VA Minimum Property Requirements; Ryan coordinates with lenders whose appraisal panels include VA-experienced Aurora new construction appraisers
Closing and construction begins — single closing executed before construction starts; rate locked; draw schedule established with builder; for VA loans, VA inspection requirements are confirmed and scheduled at each draw milestone
Certificate of occupancy and conversion — upon completion and CO issuance, the loan converts automatically to permanent financing; regular mortgage payments begin; no second closing, no additional underwriting
Yes — and this is one of the most direct applications of VA One-Time Close financing in the Denver metro. Aurora Highlands is approximately 12–18 minutes from Buckley Space Force Base by car, falls within Arapahoe County (part of the Denver metro high-balance group), and has multiple VA-approved production builders already active in the community. As a Buckley active-duty service member with full VA entitlement, you have no VA loan limit — meaning you can build in Aurora Highlands' premium collections from Richmond American and Taylor Morrison without being capped at any conforming limit. Zero down payment. No PMI. One closing before construction begins, with a locked rate throughout the build. Ryan structures VA One-Time Close pre-approvals for Buckley personnel and can coordinate the construction timeline around your BAH cycle and PCS schedule.
The physician One-Time Close Construction loan works the same as a standard physician mortgage for qualifying purposes — it just covers a construction project instead of a resale purchase. As a current CU School of Medicine resident, your qualifying documentation includes your appointment letter and current stipend for the base income, plus student loan statements at your IBR/IDR payment for the DTI calculation. If you have signed an attending contract with a start date up to 90 days before or after your expected construction completion, Ryan can structure the pre-approval on attending income rather than resident stipend — significantly improving your qualifying loan amount for a Painted Prairie build. The rate is locked at closing before construction begins, and the loan converts automatically upon CO — so by the time you start paying the full permanent mortgage, you are likely already earning attending income. Painted Prairie's location adjacent to the Anschutz Medical Campus makes it one of the most practical communities for Anschutz-affiliated physicians building during training.
Metropolitan Districts are Colorado's primary tool for funding infrastructure in new master-planned communities — parks, trails, roads, utilities, recreation centers, and community amenities — through an additional property tax mill levy charged to homeowners beyond the standard county rate. Aurora Highlands, Painted Prairie, Sky Ranch, and Prairie Point all operate under Metropolitan District structures. The additional mill levy varies by community and phase but typically adds 0.3–0.6% of assessed value per year — translating to $1,500–$3,000 per year in additional property taxes on a $500,000 home. This affects your monthly mortgage escrow payment and your DTI calculation during construction loan qualifying. Ryan includes the total mill levy — base county rate plus Metropolitan District rate — in every Aurora construction loan payment analysis, so the monthly payment you're qualifying on reflects what you'll actually pay after construction is complete. Buyers who learn about the mill levy for the first time at closing are often surprised; buyers who worked with Ryan are not.
In most cases, yes. A 1-acre lot in Aurora adjacent to Cherry Creek Reservoir, combined with a custom or semi-custom home build at a scope appropriate for that land, will almost certainly produce a total project cost above $862,500 — particularly when Prairie Point's Mountain Modern architectural direction, premium lot values, and infrastructure costs are included. That puts most Prairie Point estate lot construction in Jumbo One-Time Close territory, with financing programs covering $862,501 through $3 million and above depending on total project scope. Prairie Point's builder partnerships were being finalized through early 2026; Ryan will review the specific builder contract, lot premium, and construction budget at the initial consultation to confirm the program tier and lender match before you commit to the project.
Building your new home in Aurora starts here. Let’s talk through your builder, your site, and your timeline.
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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