2026 Loan Limits in Telluride, San Miguel County
Telluride sits in San Miguel County, a designated high-cost area where the 2026 high-balance conforming limit is $994,750 and the FHA limit is actually higher at $1,045,350 — one of the few Colorado counties where FHA ceiling exceeds conforming. Loans up to $994,750 can be financed through Fannie Mae or Freddie Mac at high-balance pricing (a slight rate step above standard conforming). Anything above $1,045,350 requires jumbo or non-agency financing. DSCR investors targeting Telluride short-term rentals should confirm permit availability before closing — the city regulates STR licensing, and rental income projections depend on an active, transferable permit.
Loan Programs Available
Conventional
Fannie Mae and Freddie Mac financing up to $994,750 in San Miguel County — primary, second home, and investment.
FHA
3.5% down, flexible credit, no income cap. Telluride's 2026 FHA ceiling: $1,045,350.
DSCR
Investment property financing that qualifies on rental income — no personal income documentation required. Common in Telluride for regulated short-term rentals and long-term rentals.
Jumbo & Non-QM
For loans above the conforming ceiling, bank statement, P&L, asset depletion, and foreign national programs are available.
Local Market Notes
Highest-value CO resort; STR permit required; condotel projects common; foreign national buyers.