Loan Programs
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First Time Home Buyers
This includes anyone who has not held title to a home in the last three years.
Here are some programs offered in San Miguel County for first time home buyers.
San Miguel Regional Housing Authority Down Payment Assistance Program
Mortgage Credit Certificate (MCC)
Telluride Association of REALTORS First Time Home Buyers Program
Second Homes
Property that the borrower intends to utilize a few weeks a year. These are typically vacation homes.
Investment/Rental Property
Borrower intends to rent the property or is purchasing property under 45 miles from their primary residence.
Vacant Land
Unimproved, raw land
Construction
Owner build or contractor built, includes modular homes
One Time Construction Close
Borrower pays closing costs only once and has a guaranteed interest rate
No Money Down Purchases
Borrower finances 100% of the purchase and pays closing costs out of pocket
Low Documentation for Self-Employed Borrowers
Lender doesn't require tax returns or pay stubs to verify income or verification of liquid assets
Low Credit Score Loans
Borrowers who have had a bankruptcy or have a credit score below 620
Second Mortgages
Fixed seconds and lines of credit (HELOCs)
Commercial
Business loans that include the real estate
