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Mile High Lending Mile High Lending
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Business Details
Your Trusted Mortgage Broker in Prescott, AZ
Mile High Lending, LLC is a mortgage broker with close to 22 years of industry experience, specializing in a wide range of mortgage finance solutions. We originate and process loans in-house, offering competitive rates and no application, processing, or origination fees. Our team works with multiple lenders to provide diverse loan programs, including conventional, FHA, VA, and USDA loans, tailored to primary residences, second homes, and investment properties.

We prioritize client satisfaction by offering no-cost pre-qualification, flexible closing cost options, and personalized service. As a local, independent broker, we maintain direct access to underwriters and lenders, ensuring seamless communication and efficient loan processing. Our expertise in navigating complex mortgage guidelines and commitment to transparency has earned us recognition as a trusted leader in Prescott, AZ.
Services
Conventional Loans FHA Loans VA Loans USDA Loans Refinancing Investment Property Loans Second Home Loans Down Payment Assistance No-Cost Mortgages In-House Loan Processing
Highlights and features
  • We offer 22 years of mortgage industry experience with personalized service.
  • No application, processing, or origination fees for all loan programs.
  • Competitive rates and flexible closing cost options for all borrowers.
  • Local in-house processing for faster approvals and direct communication.
  • Expertise in VA, FHA, USDA, and conventional loans with low down payments.
What people say
Excellent service Very helpful Knowledgeable team Smooth process Professional guidance
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Services
Conventional Loans
Conventional loans offer flexible terms for primary residences, second homes, and investment properties. Borrowers can qualify with as little as 5% down for primary homes, 10% for second homes, and 20% for investment properties. These loans allow gifted down payments and include options for no monthly mortgage insurance.
VA Loans
VA loans provide 0% down payment options for veterans and surviving spouses. With a minimum credit score of 580, these loans waive funding fees for disabled veterans and allow refinancing up to 100% loan-to-value without an appraisal for IRRL programs.
FHA Loans
FHA loans require 3.5% down payments with 580+ credit scores. The full down payment can be gifted, and these loans accommodate borrowers with past bankruptcies or foreclosures after three years. Monthly mortgage insurance is required for all FHA programs.
USDA Loans
USDA loans offer 0% down payment for properties in eligible rural areas. Borrowers need a 580+ credit score and must meet income limits. These loans include monthly mortgage insurance and require three years of recovery from past credit issues.
Refinancing
We provide rate-and-term and cash-out refinancing for primary, second, and investment properties. Rate-and-term refinances allow up to 90% LTV, while cash-out options go up to 80% LTV with competitive rates and no hidden fees.
People
Dana Rae Newman
Broker/Owner
Dana Rae Newman, a licensed loan specialist with 22 years of experience, owns Mile High Lending. She processes all loans in-house and specializes in VA, FHA, and conventional programs. A Prescott resident, she prioritizes client education and personalized mortgage solutions.
Questions
What mortgage programs do you offer?
We offer conventional, FHA, VA, USDA, and refinancing options with down payments as low as 0% for eligible borrowers.
Are there any application or origination fees?
No. We charge zero application, processing, or origination fees for all loan programs.
Can I get pre-qualified before house hunting?
Yes. We provide free, no-obligation pre-qualification to help you understand your budget.
Do you offer down payment assistance?
Yes. We provide access to down payment assistance programs for qualified buyers.
How long does the mortgage process take?
Most loans close within 30 days, depending on documentation and lender requirements.
Can you finance investment properties?
Yes. We offer investment property loans with down payments starting at 20%.