BREAKING BARRIERS TO HOMEOWNERSHIP

The Telluride Foundation is dedicated to expanding access to safe, affordable housing for the regional workforce. Through the generosity of donors, local governments, and taxing districts, we offer financial assistance to help qualified buyers purchase a home or secure a rental.

We encourage you to review the program details here on our website. If you have questions about eligibility or the application process, contact Elaine Demas at elaine@telluridefoundation.org before applying.

The Foundation provides three distinct assistance programs for full-time workers in our service area, including San Miguel & Ouray Counties, Nucla & Naturita, and the town of Rico. To qualify, applicants must meet income and asset limits, not own other real estate, and ensure the home or rental is within the service area. Applications must be submitted and approved before purchasing a home or signing a new lease.

Down Payment Assistance: Forgivable Loans

• Up to $5,000 in financial assistance
• Fully forgiven after two years of homeownership
• Home must be deed-restricted and priced at $850,000 or less
• Income limits: Up to 120% of Area Median Income (AMI)
• Must be your Primary Residence

Down Payment Assistance: Shared Appreciation Loans

• Loans up to 20% of the home price (maximum $50,000, or $100,000 in some areas of San Miguel County)
• No monthly payments; repayment is due when the home is sold or refinanced
• Loan repayment includes a pro-rata share of the home’s appreciation
• Home must be deed-restricted and priced at $850,000 or less
• Income limits: Up to 150% of Area Median Income (AMI)
• Must be your Primary Residence
• Exceptions for Nucla & Naturita:
  • Homes do not need to be deed-restricted
  • Home price must be $300,000 or less
  • Maximum loan amount is $30,000

Rental Assistance: Security Deposit No-Interest Loans

• Up to $2,500 in assistance, paid directly to your landlord
• 0% interest; loan must be repaid in full when your lease ends or upon move-out
• Income limits: Up to 120% of Area Median Income (AMI)
• Only one person per household may apply