Mortgage loans in Telluride and Mountain Village
Financing a home in the Telluride region
I'm Peter Pritchard, a Colorado mortgage lender based in Durango, and I've closed loans for buyers in Telluride. Homes in the Telluride region often call for a different kind of loan than a typical purchase. Many buyers are financing a second home, prices often run above standard loan limits, and condos in resort buildings can raise questions a lender has to review before it will approve the loan.
Because I compare multiple lenders, I can look for one whose guidelines fit the property and your plans, then manage the loan from application through closing. Most Telluride clients work with me by phone, email and video, sign documents electronically and close at a title company near them and the property, or virtually with advance notice if you will be away at closing.
- Second home loans for part-time residents
- Jumbo loans for higher-priced homes
- Condo financing, including buildings with on-site rental programs that some lenders won't finance
- Investment property loans, with a straight answer on how rental plans affect your options
Loan options
Home loans I help Telluride-area buyers with
Good to know
Good to know before you buy in the Telluride region
How you use the home matters
Lenders treat a second home differently from an investment property. If you plan to rent the home out, tell me up front so we choose the right loan from the start.
Condo buildings get their own review
Lenders look at the homeowners association's budget, insurance and rental activity. Buildings that operate like hotels can limit your options, so I check the building as early as possible.
Higher prices mean more paperwork
Jumbo loans usually ask for more detail on income and assets. Gathering those documents early helps keep the closing on schedule.
Areas I serve near Telluride
- Telluride
- Mountain Village
- Lawson Hill
- Ophir
- Placerville
- Norwood
- Rest of San Miguel County
See areas I serve in Colorado. I also lend in Grand Junction and the Grand Valley.
Steps for a Telluride-area purchase
- Tell me how you'll use the home: full-time, part-time or as a rental
- Get pre-approved before you write an offer
- For condos, I request the HOA's lender questionnaire early
- I shop lenders whose guidelines fit the property and your plans
Visit my Durango office
My office is in downtown Durango at 1099 Main Ave, Suite 305. Telluride-area clients rarely need to visit: we handle the loan by phone, email and video.
“From start to finish it took 10 days.”
— Michelle B.“He was always available no matter week day or weekend and always took the time to explain everything.”
— Deborah M.Read more reviews or see them on Google.
Questions
Frequently asked questions
Can you finance a condo in Mountain Village?
Often, yes, but it depends on the building. Some lenders will not finance condos in buildings with hotel-style rental programs or certain other features, so I review the building early and look for a lender whose guidelines fit.
Do I have to come to Durango to close?
No. You can close at a title company near you and the property, or, with advance notice, we can arrange a virtual closing, for example if you will be out of the country.
No obligation
Financing a home in Telluride or Mountain Village?
Call or text 970-828-1610 or start your pre-qualification online. Condo or jumbo, I'll check the building and the loan size early.