Community Land Trust

Buying a home through a CLT allows you to buy more affordably.

Benefits to You

  • You can afford a quality home that would be too expensive normally.
  • Having a support network if a financial hardship hits your family.
  • Removes homeownership barriers through down payment assistance.
  • Direct access to trusted contractors and minor home repair loans.
  • No more landlords: You are the homeowner.
  • Pass the affordability on or keep it in the family; your children can inherit the house.

Benefits for the Community

  • Generation after generation of home buyers are able to afford homes otherwise outside of their reach.
  • CLT’s stabilize communities by helping renters become educated and well resourced homeowners.
  • CLT’s promote healthy mixed income and diverse neighborhoods.
  • Affordable housing allows people of all incomes to live close to where they work.
  • Stable affordable housing is a key determinant to a family’s ability to thrive.
  • Wealth building opportunities like CLTs allow families to end generational poverty.

How it Works

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Steps to Buying a CLT Home

 

Buying a CLT home is a little bit different from the normal homebuying process. We'll work together with you and your realtor every step of the way to help you make the right decision for you and your family.

One
One

Step 1

Tour a CHWC home, and ask your realtor to contact us.

Two
Two

Step 2

Sign preliminary purchase contract, and verify your income to determine the amount of CLT assistance you can access.

Three
Three

Step 3

Meet with a housing counselor to get fully informed on the CLT process. Bring documents to verify your income and find out what other resources you can access. Decide whether to move forward or not.

Four
Four

Step 4

Get pre-approved by a CLT Lender.

Five
Five

Step 5

Take CHWC's Homeownership class in person or online.

Six
Six

Step 6

Based on your qualification, we will apply for any financial resources available for you. We will need several pieces of documentation.

Seven
Seven

Step 7

Do a final walk through of the home and learn basic maintenance and problem-solving.

Eight
Eight

Step 8

Walk step by step through the ground lease agreement with your housing counselor.

Nine
Nine

Step 9

Sign sales contract and ground lease.

Ten
Ten

Step 10

Move in!

Eleven
Eleven

Step 11

Stay connected! We have many resources to support you on your journey.

Frequently Asked Questions (FAQ)

No, you can resell at any time. Just contact CHWC to start the sales process.