Investment Property Loans in Durango, CO

Rental property loans from a local lender

Buying a rental in Durango, adding a duplex to your portfolio, or turning a long-held property into cash for the next one? I’m Peter Pritchard, a Durango mortgage originator for 28 years, and I help investors finance 1-4 unit rental properties across Durango, Bayfield and La Plata County.

Durango-specific things investors should plan for

Short-term vs. long-term rentals: the City of Durango and La Plata County each have their own short-term rental rules and permits. Confirm what's allowed at a specific address before counting on vacation-rental income.
Rental income documentation: lenders typically use leases, tax returns or an appraiser's rent estimate to count rental income. I'll tell you early what will be needed.
Condos and HOAs: some condo projects limit rentals or don't meet every lender's guidelines. I check the project before you're under contract.
Insurance: landlord policies and wildfire risk can affect your costs. Get a quote early.
Wells, septic and rural access: common outside town and can add inspections and time.

Live in one unit, rent the others

4 things to check before you buy a 2–4 unit home in Durango. Tap any step.

Which loan fits?FHA, VA or conventional: tap through my loan chooserTry the loan chooser →Can the rent cover the costs?Plug in the rent, taxes, insurance and repairs to see the monthly cash flowOpen the rental calculator →Rental rulesCity and county permits, short-term rental limits and what lenders will countRead the duplex guide →The buildingDoes each unit have its own utility meter? Check the roof, heating, plumbing and any shared well or septicSee what to inspect →

What to expect with a rental property loan

Lenders view rental properties as higher risk than a home you live in, so investment loans generally come with a larger down payment, somewhat higher pricing and more reserve requirements than a primary residence. Exact requirements vary by lender, property type and your overall financial picture. I’ll lay out the real numbers for your situation before you write an offer.

Planning to live in one unit of a duplex, triplex or fourplex? Owner-occupied 2-4 unit purchases can qualify for primary-residence financing, which often means a smaller down payment. Ask me whether that fits your plans, or read my guide to buying a duplex in Durango and living in one unit.

Using the property partly yourself and renting it occasionally? That may be a second home loan instead. The category matters, and I’ll help you get it right from the start.

PURCHASE A HOME PURCHASE A HOME

REFINANCE MORTGAGE REFINANCE MORTGAGE

REFINANCE WITH CASH-OUT REFINANCE WITH CASH-OUT

Investment property loans I can shop for you

Conventional investment property loans for single-family homes, condos and townhomes you plan to rent
Renovation loans (Fannie Mae HomeStyle) to buy a rental that needs work and finance the repairs
2-4 unit properties (duplexes, triplexes and fourplexes), whether you live in one unit or rent all of them
Cash-out refinances on rentals you already own, to fund repairs or your next purchase
Loans for self-employed investors who need flexible income documentation
Jumbo financing for higher-priced properties above the conforming limit

Like a broker, I compare multiple lenders instead of offering one bank’s products, so you can see more than one option side by side.

Apply Online Apply Online

Talk to a local investment property lender

Call or text me at 970-828-1610, visit my office at 1099 Main Avenue, Suite 305 in Durango, or send me a message. I’ll run the numbers honestly, including whether the property cash-flows after the mortgage.

Not sure where to start? See how I compare mortgage lenders in Durango for you.