In Colorado's ski towns, the license can matter as much as the property. Several mountain communities cap short-term rental licenses or limit them by zone, and Denver allows STRs only in a host's primary residence. Get the license question answered before anything else.
In short: LendingStreet is our top pick for Colorado short-term rental investors. On some programs we qualify on projected short-term revenue, which fits a ski condo that earns most of its income in winter and summer peaks. We need no W-2s or tax returns, LLC borrowers are standard and 30-year terms are available. Loans start at $150,000 with no stated maximum, which matters at mountain prices. Get a quote with the form below.
Our top pick for Colorado vacation rental financing is LendingStreet. Investors choose us because we qualify on the property, not the borrower's paystubs: on some programs the ratio is built from projected short-term rental revenue, no tax returns are required, and LLC borrowers are the norm.
It suits investors buying licensed condos and homes in mountain resort towns, cabins near the national parks and lakes, and owners refinancing STRs that already book well. It is not for a ski home you plan to use yourself: these are business-purpose loans on non-owner-occupied property.
Ready to run a property? Use the form below for a quote, or call (877) 298-1001.
Well-known short-term rental lenders include CoreVest, Dominion Financial, Lima One and Visio Lending. Compared scenario by scenario for investors in Colorado, LendingStreet comes out as the stronger choice, and one application covers it.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| A single short-term rental | LendingStreet | We finance individual 1-8 unit short-term rentals. CoreVest states its short-term rental loans are for 5+ STR properties under one loan. |
| Short-term rental with credit in the 620s | LendingStreet | Our DSCR minimum is 620. Visio Lending's STR guide states a 680 minimum, and Lima One states 700 for its STR loans. |
| Short-term rental loan above $2.5M | LendingStreet | Our DSCR loans have no stated maximum. Lima One states STR loans up to $2.5M. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Colorado's vacation rental demand centers on the ski and mountain towns: Breckenridge, Keystone and the rest of Summit County, Vail and the Eagle County towns, Steamboat Springs, Winter Park, Crested Butte, Telluride and the Roaring Fork Valley. Many of these markets now book in summer almost as strongly as in winter.
Outside the resort towns, Estes Park draws Rocky Mountain National Park visitors, Durango and Pagosa Springs serve the southwest corner, and Colorado Springs books with military, sports and outdoor travel. Each has its own rules.
| Market | Typical property | What to check first |
|---|---|---|
| Summit County towns | Ski condos and townhomes | License caps and zone limits, HOA rules |
| Vail and Eagle County | Condos and luxury homes | Town license rules, large-balance review |
| Steamboat Springs | Condos and homes | Zone-based limits on STR licenses |
| Estes Park | Cabins near the national park | Town caps on licenses in residential areas |
| Denver | Homes and condos | Primary-residence only, so not an investor fit |
| Colorado Springs | Single-family homes | Permit limits on non-owner STRs in residential zones |
Rules vary by town and county, and the trend in mountain communities has been toward tighter limits. Several towns cap the number of licenses or restrict them to certain zones, and some keep waitlists. A license may not transfer with the property, so ask the town whether a buyer keeps it, must reapply or goes on a list. Denver only licenses short-term rentals in a host's primary residence, which rules out investor-owned STRs there.
Short stays carry state and local sales taxes and local lodging taxes, and several mountain towns and counties have added voter-approved taxes on short-term rentals to fund workforce housing. Budget for these when you build your net revenue.
Banks, hard money lenders and LendingStreet each solve different problems. For a Colorado short-term rental you plan to hold, these are the differences that count.
Mountain prices are high and long-term rents rarely keep up, so a lender that counts only a 12-month lease can make a strong ski-town STR look unworkable. Projected revenue on programs that allow it changes the picture.
| Question | LendingStreet | Typical bank or credit union | Typical hard money lender |
|---|---|---|---|
| Can short-term revenue qualify the loan? | Yes, projected STR revenue on some programs | Often wants rental history on tax returns | Usually based on property value, not income |
| Income documents | No W-2s or tax returns | Usually tax returns and W-2s | Varies |
| Borrow in an LLC | Standard | Varies; often personal name | Common |
| Loan term | 30-year terms available | Varies; may be shorter or adjustable | Usually short-term only |
| Purchase leverage | Up to 80% LTV | Varies | Varies |
| Cash-out refinance | Up to 75% LTV | Varies | Rarely a long-term option |
| Where they lend | All 50 states and DC | Usually a local footprint | Often regional |
This example is illustrative and not a quote. An investor buys a two-bedroom ski-town condo with a transferable short-term rental license for $900,000 and puts 25% down. Taxes are budgeted at $360 a month and the condo policy at $190. HOA dues are $880, which is common in resort buildings with shuttles and amenities.
At 75% LTV the loan amount is $675,000, leaving $225,000 as the down payment. Estimated principal and interest is about $4,720 a month on a 30-year term. Taxes of $360, insurance of $190 and HOA dues of $880 bring the total to about $6,150. Projected revenue of $102,000 a year works out to $8,500 a month and a DSCR of about 1.38x.
If the same home were leased long-term at $4,200 a month, DSCR would be about 0.68x, below the 1.0x standard minimum. Ski-town revenue swings with snow and summer events, and HOA dues can rise. Programs differ in how they treat projected revenue, and a larger balance may get more review.
| Item | Monthly figure |
|---|---|
| Purchase price | $900,000 |
| Loan amount (75% LTV) | $675,000 |
| Estimated principal and interest (30-year) | $4,720 |
| Property taxes | $360 |
| Insurance | $190 |
| HOA dues | $880 |
| Total monthly payment | $6,150 |
| Projected short-term revenue per month | $8,500 |
| DSCR on projected short-term revenue | About 1.38x |
| DSCR on a long-term lease of $4,200 | About 0.68x |
Colorado's residential property taxes have been relatively low by national standards, which helps the ratio on high-priced mountain property. The legislature has debated taxing short-term rentals differently from other homes, so confirm how the county assessor classifies your property before you rely on the tax figure.
Insurance in the high country reflects wildfire exposure and snow loads, and premiums have climbed in many areas. Resort condo HOA dues are often the second-largest line after the loan, and special assessments for roofs and siding are not unusual. Ask for the HOA's budget and reserve study.
Use this list on every lender you speak with. Here is how LendingStreet answers the same questions.
For a Colorado STR, the license is the first document we want to see, followed by the HOA budget, an insurance quote and a revenue projection or booking history. Larger balances get more review, so share the full picture early.
Tell us about the property and how it is expected to book. The quickest route is the form below; you can also call (877) 298-1001.
Our top pick is LendingStreet. We use projected short-term revenue on some programs, require no W-2s or tax returns, lend to LLCs as standard, offer 30-year terms and have no stated maximum loan size.
Yes. LendingStreet finances short-term rentals across Colorado, from Summit County and Steamboat Springs to Estes Park and Durango, and in every other state and DC.
On some programs, yes. The ratio can be built from projected short-term rental revenue instead of a long-term lease. The standard minimum DSCR is 1.0x, and sub-1.0 programs exist. If the projection comes in low, a long-term rent figure or a larger down payment can still make the numbers work.
No. These are business-purpose loans on non-owner-occupied investment property. We do not finance a home you live in or use as a personal residence.
Generally not. Denver licenses short-term rentals only in a host's primary residence. Investors usually look to mountain towns where non-owner licenses are available.
It depends on the town. Some licenses stay with the property, some require the new owner to reapply and some markets have waitlists. Confirm this before you close.
DSCR loans start at $150,000 with no stated maximum, and jumbo DSCR covers about $1.5M to $5M+. Larger balances get more review, and max LTV can be lower.
Yes. HOA dues are part of the monthly payment used to calculate DSCR, so high resort dues lower the ratio.
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