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HOW TO APPLY DOWNLOAD THE CLCLT PROGRAM INFORMATION BOOK HERE (includes buyer steps, orientation schedules, program info and partner lender contact info) (You are eligible if you meet the criteria listed below)
Household
Size Maximum Incomes NOTE: many CLCLT homes have additional funder income limits that are lower than figures listed above This nine-hour workshop gives you the basic tools to move through the home buying process with knowledge and comfort regardless of where, when or how you purchase your home. Home Stretch is offered at a variety of times by many groups across the Twin Cities metro. See the Home Ownership Center website for schedule at www.hocmn.org. All teachers of Home Stretch courses are homebuyer counselors; you can arrange to meet one-on-one with the teacher of your Home Stretch course. **It is recommended that you meet with a counselor before obtaining a mortgage loan.
CLCLT staff will explain the purpose and mission of CLCLT, the community land trust model of homeownership, CLCLT's homeownership programs, and the application process. Applications are available at the orientation. Reserve your place for the orientations by calling 612-721-7556 x18 to schedule. The Orientation Calendar is listed in the Buyer Information Booklet. Applications are available at the CLCLT Orientation. Applications are reviewed on a first-come-first served basis. (providing copies of paystubs and tax return from previous year; signing authorization to release information; paying $10 CLCLT application fee). Download a pdf of the CLCLT Application here: CLCLT Application There are specific banks and loan officers that currently provide mortgage financing for CLCLT's homeownership programs. Currently they are as follows:
Qualified applicants to CLCLT's programs need to qualify for at least $100,000 in mortgage financing. CLCLT is always willing to work with new lenders, but it may take up to 12 months for the lender to approve a CLT's programs. When all the above steps have been completed, applicants meet with CLCLT staff to ensure that all questions are answered. Finally, the CLCLT reviews all applicants to determine approval for homeownership programs. Approved applicants are offered CLCLT homeownership opportunities as they become available. When household is selected, a purchase agreement will need to be signed and a final mortgage application is processed with CLT partner local mortgage lender. When all the above steps have been completed, applicants meet with an independent attorney to ensure that all questions are answered regarding the ground lease. |
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Home
Ownership is Within Your Reach!