The Best Mortgage Lenders in Telluride, CO
Compare verified mortgage lenders serving Telluride, Colorado. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Telluride
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in Colorado's mountain communities, including Telluride. Known for competitive rates and exceptional customer service, they specialize in a wide range of loan products and have consistently high ratings for their efficient processing and local expertise. Their long-standing reputation and dedication to client satisfaction make them a preferred choice for homebuyers in the region.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly regarded for its streamlined loan processes and strong community involvement in Western Colorado. Serving Telluride with a focus on personalized service, they offer various mortgage options and have earned praise for their rapid closing times and transparent communication. Their commitment to local markets and high customer satisfaction ratings solidify their position as a reliable lender in the area.
Loan Types:
Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans provides comprehensive mortgage services to Telluride and across Colorado, with a reputation for flexibility and competitive pricing. They excel in handling complex loan scenarios and offer a broad array of products, supported by positive customer feedback on their professionalism and support. Their extensive experience and national reach with local dedication make them a trusted option for borrowers in the Telluride region.
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Frequently Asked Questions
Common questions about mortgage lending in Telluride, CO
What are the typical mortgage rates and down payment requirements for a home in Telluride?
Due to Telluride's luxury market and high property values, mortgage rates can be slightly higher than national averages for jumbo loans, which are common here. Down payment requirements are often 20% or more, but for properties over $1 million, lenders may require 30-40% down due to the specialized nature of the market.
Are there any special mortgage programs for first-time homebuyers in Telluride?
While Telluride itself has limited first-time buyer programs due to its high prices, Colorado's CHFA (Colorado Housing and Finance Authority) offers programs that can be used in San Miguel County. However, income limits and loan caps may make it challenging to find affordable properties within Telluride proper, making nearby communities more accessible for these programs.
How does Telluride's seasonal economy affect mortgage approval for local workers?
Lenders carefully scrutinize income stability for Telluride applicants, particularly those in tourism or seasonal industries. You'll typically need two years of consistent seasonal employment history, and lenders may average your income across both high and low seasons. Self-employed individuals in seasonal businesses should have thorough documentation and cash reserves.
What unique closing costs should I expect when getting a mortgage in Telluride?
Beyond standard closing costs, Telluride homebuyers should budget for higher title insurance premiums due to elevated property values, potential additional transfer taxes, and specialized insurance requirements for mountain properties. Some properties may also require specific environmental assessments or geological surveys unique to the San Juan Mountains.
Are there any local down payment assistance programs specifically for Telluride homebuyers?
The Telluride Foundation occasionally offers housing assistance programs, but these are typically targeted toward essential workforce housing rather than general market-rate homes. San Miguel County has some workforce housing initiatives, but eligibility is usually restricted by income and employment requirements specific to local essential workers.
Why Choose a Mortgage Lender in Telluride?
Local Market Knowledge
Lenders who understand Telluride's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Colorado.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Telluride and get competitive rates on your home loan.