Durango mortgage lender
A local lender who picks up the phone
I’m Peter Pritchard. I’ve lived in Durango for more than 29 years and originated mortgages for 28 of them. My office is at 1099 Main Ave, Suite 305, in the clock tower building above Alpine Bank.
Instead of offering one bank’s programs, I compare more than 200 wholesale lenders and focus on the few that fit you. On loans I fund, processing, closing and funding happen right here in Durango, and the investor that buys the loan gives the final underwriting approval.
Start with your goal
Where are you headed?
Pick the one that sounds like you. I’ll show you what matters most and where to go next.
Know your numbers before you fall for a house
Good Durango listings move fast. Buyers who are pre-approved, and know what the property needs, write stronger offers.
- Get pre-approved first. It’s usually same day once I have your income and asset documents.
- Check wells, septic, HOA rules and insurance early. They can change which loan works.
- FHA, VA and USDA programs are built for buyers without large savings.
Start here
Moving from out of state? The home needs to be in Colorado, but you can live anywhere.
Refinance only when it pays
A refinance makes sense when the savings beat the closing costs in the time you’ll keep the loan. If they don’t, I’ll tell you.
- See your break-even point from your own numbers.
- Like your current rate? A HELOC or second mortgage may let you keep it.
- Moving from FHA to conventional can remove mortgage insurance.
Common goals
Use your equity with no monthly mortgage payment required
A reverse mortgage lets homeowners 62 and older turn home equity into cash, a line of credit or monthly payments, or even buy a new home.
- The home must be your principal residence.
- You still pay property taxes, insurance and upkeep.
- HECM for Purchase can help you downsize or move closer to family.
This material is not from HUD or FHA and was not approved by HUD or a government agency.
Good to know
Family members are welcome to join the conversation. I’ll go through every option with you before you decide, with no obligation.
A place near Purgatory, Vallecito or in town
Second homes are financed for part-time use, not full-time rental. The property, especially a condo, often decides the loan.
- Many condos need a project review before approval. I check it early. If the building isn’t approved, a non-warrantable (non-QM) condo loan can still work, usually at a higher rate.
- Buyers from other states are welcome.
- Short-term rental plans change which loan fits, so tell me up front.
Local guides
Rentals, duplexes and fourplexes
Investment loans cover single-family rentals and 2-4 unit properties. You can also live in one unit of a duplex to fourplex and rent the others.
- FHA, VA and conventional loans can work for an owner-occupied 2-4 unit.
- Cash-out refinances on rentals you already own.
- Options for self-employed investors.
Run the numbers
How it works
From first call to closing table
You work with me directly the whole way, and you always know what comes next.
Free tools
Run your numbers first
Try these on your own, then call me and I’ll check the numbers with you.
Which loan fits me?
A 1-minute quiz that points to the loan types worth a look.
Take the quiz →See my price range
A price range from your own income and savings.
Find my range →Would refinancing pay?
Your break-even point next to your current loan.
Run the numbers →Rent or buy?
Compare renting with owning over the years you plan to stay.
Compare →Where I lend
Licensed anywhere in Colorado
Based in Durango, lending across Southwest Colorado and the rest of the state.
