Mortgage Loans in Telluride and Mountain Village
Financing a home in the Telluride region
I’m Peter Pritchard, a Colorado mortgage broker 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
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.
Areas I serve near Telluride
Telluride, Mountain Village, Lawson Hill, Ophir, Placerville, Norwood and the rest of San Miguel County, plus anywhere else in the state. See areas I serve in Colorado.
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
Home loans I help Telluride-area buyers with
- Second homes and vacation properties
- Jumbo loans for homes above standard loan limits
- Investment property loans
- Refinancing and HELOCs and second mortgages
- Reverse mortgages (HECM) for homeowners 62 and older
- Lending anywhere else in the state: see areas I serve in Colorado
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.
What clients say
- “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 on my testimonials page or on Google, where clients have left dozens of five-star reviews.
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.