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Homeownership Steps
Community Land Trust Homeownership Process
If you're interested in purchasing a CLT home, you might be asking: How do I qualify? What steps are involved? Who gets selected? Here is the process for purchasing a CLT home.
Step 1. Prepare for Homeownership by completing all eligibility requirements
- Attend a CLT orientation
- Attend a homebuyer education session
- Complete a pre-application intake
Step 2. You will be referred to a Preferred Lender.
Step 3. When homes become available review their specified income brackets.
- Homes will be available at different times throughout; each will have an income level for eligible home buyers
Step 4. Eligible Homebuyers will be invited to complete an application.
Step 5. Complete an application for a home.
- The application will be announced when there are available homes. You must have all previous steps completed.
Step 6. Application review
- All applications are reviewed for completeness. Each application will either be approved or denied.
Step 7. Lottery selection process is performed.
- All approved applications are moved to the lottery queue. Lottery selection will be announced in our website and winners will be contacted.
Step 8. Enter into a sales agreement and escrow.
Step 9. Prepare for closing.
- Your lender, the sales agent, and the CLT will help you through this process. This may last around 45-60 days.
Step 10. Move-in to your First Home!
- You will enter into a ground lease and the CLT will provide ongoing stewardship and support.