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Mile High Lending Mile High Lending
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Business Details
Trusted Mortgage Brokers in Prescott, AZ
Mile High Lending, LLC is a locally owned and operated mortgage brokerage serving clients across Arizona. With over two decades of industry experience, our team specializes in originating, processing, and brokering mortgage loans through a network of wholesale lenders. We pride ourselves on offering personalized service with no origination, processing, or application fees, and we maintain direct communication with underwriters to ensure smooth transactions.

Our in-house processing team provides clients with real-time updates and customized loan solutions tailored to their unique financial situations. As an independent broker, we offer competitive rates and flexible options including conventional, FHA, VA, USDA, and investment property loans. Our commitment to transparency, client education, and local market expertise has made us a trusted partner for homebuyers and refinancers throughout the Prescott area.
Services
Home Purchase Loans Refinancing VA Loans FHA Loans USDA Loans Investment Property Loans Conventional Loans Cash-Out Refinancing No Mortgage Insurance Options Down Payment Assistance
Highlights and features
  • 22 years of mortgage industry experience with local market expertise
  • No origination, processing, or application fees
  • In-house loan processing for faster approvals
  • Competitive rates with no out-of-pocket closing costs
  • Customized loan solutions for unique financial situations
What people say
Exceeded expectations Knowledgeable team Smooth process 24/7 availability Competitive rates
Update Listing
Services
Home Purchase Loans
We offer comprehensive home purchase loan options including conventional, FHA, VA, and USDA programs. Our services feature low down payment requirements starting at 3% for first-time buyers, with flexible mortgage insurance options. Our local team provides personalized guidance through the entire purchase process from pre-approval to closing.
Refinancing
Our refinancing solutions include rate-and-term and cash-out options for primary residences, second homes, and investment properties. We offer competitive rates with maximum loan-to-value ratios up to 90% for conventional refinances and 80% for cash-out transactions. Our in-house processing ensures efficient refinancing with minimal documentation requirements.
VA Loans
Specialized mortgage solutions for veterans and active military personnel featuring 0% down payment requirements. We offer VA loans with minimum credit scores of 580, funding fee waivers for disabled veterans, and streamlined IRRL programs. Our team provides expert guidance through the VA-specific documentation process.
FHA Loans
FHA-insured mortgage programs requiring as little as 3.5% down payment with flexible credit requirements. We offer FHA loans for borrowers with minimum credit scores of 580, including options for gifted down payments and monthly mortgage insurance financing. Our team specializes in post-bankruptcy financing solutions.
USDA Loans
Zero-down payment mortgage programs for qualifying rural properties with minimum credit scores of 580. Our USDA loan specialists provide eligibility mapping, property qualification guidance, and financing options for first-time homebuyers in eligible Arizona communities.
People
Dana Rae Newman
Broker/Owner
With over 20 years of mortgage industry experience, Dana Rae Newman founded Mile High Lending, LLC as a local, independent broker. A Prescott resident since 2002, she personally processes all loans and specializes in matching clients with optimal financing solutions while maintaining a 97% client satisfaction rate.
Questions
What documents are required to start a mortgage application?
For W-2 employees: 2 recent paystubs, 2 W-2s, and 2 months of bank statements. Self-employed borrowers need 2 years of tax returns. Retired applicants require 2 years of 1099s and income award letters.
What are the key mortgage dos and don'ts during the loan process?
Do maintain timely payments and consult us before major financial changes. Don't apply for new credit, close accounts, or make large deposits without prior approval from your loan specialist.
What loan programs are available for first-time homebuyers?
We offer FHA loans with 3.5% down, USDA loans with 0% down in eligible areas, and conventional loans with 5% down. All programs include mortgage insurance options and down payment assistance eligibility.
How does working with a mortgage broker benefit me?
We access multiple lenders to find competitive rates, maintain direct underwriter communication, and provide personalized loan structuring. Unlike banks, we offer no-cost closing options and flexible financing solutions.
Can I get a mortgage with recent credit challenges?
Yes, we specialize in post-bankruptcy financing. FHA loans require 3 years after bankruptcy, while VA loans need 2 years. Our team helps clients rebuild credit while securing favorable mortgage terms.
What areas do you serve?
We provide mortgage services throughout Arizona, with specialized knowledge of Prescott Valley and surrounding communities. Our digital processing capabilities support clients statewide through email, fax, and virtual consultations.