VA Home Loans in Durango and La Plata County: A Local Guide for Veterans

If you served, a VA home loan is one of the best benefits you have earned. Yet I regularly meet veterans here in the Four Corners who either do not know they qualify or think the benefit is more limited than it is. Here is a plain-English guide.

Why veterans choose VA loans

• No monthly mortgage insurance
• Flexible down payment options
• The seller can pay some of your closing costs
• Credit and debt guidelines that are often more flexible than conventional loans
• No prepayment penalty
• The benefit can be used more than once

Most VA loans include a one-time funding fee. Veterans who receive VA disability compensation are generally exempt, and I can check that for you.

Who qualifies

More people than you might think, including veterans who meet the service requirements, active-duty service members, many National Guard and Reserve members, and some surviving spouses. If you have used your benefit before, you may still have entitlement available, or it may be restored after you sell.

Three myths that cost veterans money

• “I can only use it once.” Your VA benefit can be used again, and in some cases you can even have two VA loans at the same time.
• “My credit has to be perfect.” VA guidelines are often more flexible than people expect. Let a lender look before you rule yourself out.
• “Sellers do not like VA offers.” A well-prepared VA offer competes just fine. A full pre-approval and good communication with the listing agent make a big difference.

Getting started

It helps to have your DD-214 (or a statement of service if you are active duty), recent pay stubs, W-2s and bank statements. I can pull your Certificate of Eligibility for you, so you do not have to track it down.

Whether you are buying in Durango, Bayfield, Cortez or Pagosa Springs, I would be honored to help. Thank you for your service.

Still comparing mortgage lenders in Durango? See how working with one local broker lets you compare multiple lenders for your situation.

Have questions about your own situation? Call me at 970-828-1610 or book a time to talk. There is never any cost or obligation.

Peter Pritchard, NMLS #404172 | Animas Mountain Mortgage Inc., NMLS #1742747 | 1099 Main Ave, Ste 305, Durango, CO 81301 | Equal Housing Opportunity. This article is general information, not a commitment to lend. Loan approval depends on credit, income, property and program guidelines.