Far and away, the most significant benefit of a VA loan
is the borrower's ability to purchase with no money down.
Apart from the government's UDSA's Rural Development home
loan and Fannie Mae's Home Path, it's all but impossible
to find a lending option today that provides borrowers
with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
"They did a phenomenal job for us. Have had 10+ mortgages over 40+ years and Peter's professionalism/promptness was the best service we have ever had. Happy to recommend him to others."
"Our lending process was exceptional. Peter Pritchard (Animas Mountain Mortgage) made the process very easy for us. He went above and beyond what I would expect from my lender. His experience and insight allowed me to feel comfortable knowing Peter would make sure everything would happen how and when it needed to happen. Highly recommend!"
"Working with Peter has been the best experience I have ever had with a lender. He was knowledgeable and friendly. I would recommend anyone to Peter."
"When we decided to purchase a home in Durango, we asked a number of people to recommend a lender and many of them recommended Peter. He was the right choice. Peter made what can be a complicated process very smooth. He was very knowledgeable about the process and was able to answer all of our questions. Peter was very responsive to our inquiries and returned all of our calls in a timely manner. The fees and closing costs were lower than expected and the loan closed on time. We love our Durango home and Peter was instrumental in making it happen."
"If you need a jumbo mortgage but don't fit into that "perfect borrower" box, you need Peter Pritchard. He assisted us with submitting a loan package to an appropriate bank that he knew would be most likely to approve the loan we wanted under our particular scenario. We were buying our third vacation home in Telluride and, although we have a large amount of money coming relatively soon, we needed a jumbo mortgage to purchase the home now before the opportunity for the great deal disappeared. Our local small bank would only offer us a high-priced short-term ARM because we are self-employed professionals with a non-traditional income pattern. Peter Pritchard helped us to choose the most appropriate product for our needs and then found the lender that offered the best rate for that loan. Most importantly, he put together our loan application and assembled all the supporting documents which was much more complicated than collecting pay stubs, bank statements, and a credit report given our complex economic ecosystem. Because we are attorneys, we THOUGHT we knew more than most borrowers about how to handle things but Peter Pritchard turned out to be an invaluable asset in guiding us through the new and complex regulatory borrowing environment. There were several small details that would have torpedoed our loan application if we didn't have his assistance. He was able to navigate the complexities with ease, but had to spend an inordinate amount of time dealing with each complex issue as it arose – obviously earning his commission. That is not something that I would say about most brokers or bankers that have helped us in the past. The most important thing, of course, is that our loan was approved and approved for closing on our schedule. THAT…. is worth every penny. I highly recommend this knowledgeable and tenacious mortgage broker."