Preferred Lender- Impact Development Fund (IDF) + First Southwest Bank (FSWB)

IDF is offering personalized homebuyer mortgage support for this project in a partnership with Rural Homes. IDF will be processing the mortgage that will be financed through FSWB. Reach out to IDF for a mortgage prequalification.

“As a nonprofit Community Development Financial Institution (CDFI) certified by the United States Treasury, and as an approved CRA (Community Reinvestment Act) institution, IDF works with social impact investors, local municipalities’ housing and financing authorities across Colorado, nonprofit organizations such as Habitat for Humanity, other CDFIs and traditional banks. Our goal is to guide these partners along the path beginning with strategic vision to project financing and fruition.”

https://impactdf.org/borrow/

IDF will waive the fee associated with pulling one’s credit report, and has a specific mortgage product for Rural Homes Buyers.

Reach out:

e: info@impactdf.org

p: (970) 494-2021, press 2 for New Consumer Loans

Additional Lending Partners:

Below you will find a list of additional mortgage providers that are familiar with Pinion Park. Some have products specific to this project

  • Tayton Capital LLC is San Miguel County based lender, offering personalized Mortgage support for these homes in cooperation with Rural Homes.

    For Pinion Park, they have offered to wave their underwriting fees and apply their lender credits toward a rate buy down or closing costs. They will also help clients qualify for Colorado and local grants including Colorado down payment assistance programs.

    Reach out for a free consultation and preapproval:

    John MAX Henry | Sr. Loan Officer | Tayton Capital, LLC

    C: 303 396 5822 E: max@taytoncapitalllc.com

  • Veterans may be eligible for $20,000 in down payment assistance! If you are a veteran discharged for any means other than dishonorable or bad conduct, and your income is Very Low or Low as defined by the USDA’s income limits, please contact Habitat for Humanity of Colorado for more information and to verify your eligibility for this program.Down payment assistance comes from Federal Home Loan Bank - Topeka and is administered by Habitat for Humanity of Colorado. Down payment assistance does not need to be paid back if the home is the homebuyer’s main residence for 5 years. Homebuyers must sign a real estate retention agreement at closing.For more information, please call Jennifer at 303-454-8965 ext 2 or email jennifer@habitatcolorado.org

  • USDA/Rural Development’s mission is to improve the lives of rural Americans. Their 502 Direct Loan Program helps accomplish this mission by offering low income applicants obtain decent, safe and sanitary housing in rural areas. 502 Direct Mortgages can be made to purchase existing, new and manufactured dwellings that are program eligible. A significant benefit of this program is that no down payment is required, repayment terms can be extended up to 38 years for income eligible applicants (manufactured homes, 30 years) and a subsidy can be provided based on the Household’s income, thus reducing the families repayment schedule.

    To be eligible for the program, applicants must: Meet citizen or eligible non-citizen requirements; Be presently without decent, safe and sanitary housing; Have the legal capacity to incur the obligation; Be unable to obtain a loan from another source; Be Income and credit eligible; Not be suspended or debarred from participation in Federal Programs; Must occupy the dwelling as their primary residence; Must demonstrate they can repay their debt.

    Contact Victoria Martinez- Victoria.martinez@usda.gov for more information.

    A secondary contact is Terry Shek- terry.shek@usda.gov

  • Alpine Bank Conventional Home Mortgages

    https://www.alpinebank.com/personal/personal-loans/home-mortgage-loans.html

    Please reach out to Stephanie Krueger, mortgage officer at The Telluride Alpine Bank branch.

    E: StephanieKrueger@alpinebank.com

    P: 970-254-2044

  • Local lender on the Western Slope of Colorado specializing in lending options for First Time Homebuyers, Deed Restricted and Down Payment Assistance programs with Conventional, FHA and USDA loans.

    Lynn Whipple - Geneva - Smart Branch, Montrose

    Link to Application

    Lynn Whipple, Senior Loan Originator Email: lwhipple@genevafi.com or call 970-240-1150.

    https://www.genevafi.com/

  • “The following are some of CHFA’s general requirements:

    All borrowers have a mid-credit score of 620 or higher

    Total borrower income must not exceed CHFA’s income limits

    Attend a CHFA-approved homebuyer education class (in person or on-line) prior to loan closing

    Make a minimum borrower financial contribution of at least $1,000 toward the purchase of the home

    In addition to meeting CHFA program requirements, borrowers must qualify according to the underwriting guidelines as determined by one of CHFA’s Participating Lenders.”

    CHFA Loans may also include Down Payment Assistance for qualified buyers. For more information call 888.320.3688 or visit CHFA’s website to find a local lender in your area:

    https://www.chfainfo.com/homeownership/Pages/find-lender.aspx

  • Conventional Lending & USDA Rural Homes Program Assistance

    https://www.csbcolorado.com/personal/home-lending/


    Jessica Frigetto, loan officer for Norwood, Naturita, Telluride area

    E: jfrigetto@csbcolorado.com

Down Payment Assistance

Telluride's Foundation Housing Opportunity Fund https://telluridefoundation.org/impact-initiatives/housing-opportunity-fund/

There are programs for Down Payment Assistance (DPA) for any first mortgage lender. You may be eligible if you earn 100% or below of Area Median Income (AMI) in San Miguel County. Please use the chart below to see if your household falls within the AMI threshold.

Please reach out to IDF, USDA, or CHFA to learn more about Down Payment Assistance (DPA) resources.

First-Time Homebuyer Assistance

For those employed in the Telluride R1 School District, we encourage you to look into the following opportunity from the Telluride Association or Realtors:

https://tellurideassociationrealtors.com/fthbaf/