What Makes Resort Property Financing Different
Resort properties present unique challenges that national lenders often fail to navigate. Seasonal access roads, condotel classifications, non-warrantable HOAs, short-term rental income, and properties above 9,000 feet elevation all require specialized knowledge. Many online lenders will pre-approve you, then decline the loan once they realize the property is in a resort area with unique characteristics. Cedar Home Loans handles these complexities daily across Colorado's mountain communities.
Loan Options for Resort Properties
Conventional second home loans (as little as 10% down) work when you'll personally use the property and it's not in a condotel. Jumbo loans are required above your county's conforming limit — $832,750 in most Colorado counties and up to $1,249,125 in Eagle County in 2026. DSCR loans qualify on rental income alone — ideal for pure investment purchases. Portfolio loans handle non-warrantable condos and unique properties. Construction loans work for building custom mountain homes. Each has specific requirements around property type, usage, and borrower qualification.
Condotel and Resort Condo Financing
Colorado's major ski resorts are full of condotels — individually owned condo units managed as part of a hotel operation. These properties offer professional management, rental income, and resort amenities but require specialized financing. Cedar Home Loans is one of a handful of Colorado lenders that actively finances condotel properties. Expect larger down payments (often 20-25%), higher rates than standard loans, and careful documentation of the rental management agreement.
Understanding Second Home vs. Investment Rules
The distinction matters enormously for rates and down payment. A second home must be: suitable for year-round use, occupied by you for some portion of the year, under your exclusive control, and not subject to a rental agreement giving a management company control over occupancy. Rental income can't be used to qualify for a second-home loan. If you're purchasing primarily to rent via Airbnb/VRBO, the property is likely an investment property — typically 15-25% down and higher rates.
Resort Markets We Specialize In
Cedar Home Loans has closed loans in every major Colorado resort market: Vail, Beaver Creek, Aspen, Snowmass, Telluride, Mountain Village, Breckenridge, Keystone, Copper Mountain, Steamboat Springs, Winter Park, and Crested Butte. We understand the specific property types, HOA structures, and market dynamics unique to each community. Our local appraisal network ensures accurate valuations in resort markets where comparable sales can vary dramatically.
Updated . Figures are general guidance and vary by lender, property and borrower. Call us for numbers that fit your situation.
