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Get Matched Free →Andover Community Trust Homebuyer Program
Funding status: Active
How much assistance
Subsidized purchase price on permanently affordable homes; subsidy varies by home and household
Permanent affordability is preserved through the community land trust ground lease. Owners build equity but agree to a resale formula that keeps the home affordable for future buyers.
Eligibility
- Income limits: At or below 80% Area Median Income (AMI)
- First-time buyer required: No
- Geographic restrictions: Available only on Andover Community Trust homes located in the City of Andover, Minnesota.
- Homebuyer education required: Yes
How to Apply for Andover Community Trust Homebuyer Program
Step 1: Visit andoverclt.org to view available homes, complete the buyer interest form, and begin the application process. Buyers must meet income and homebuyer education requirements and use a CLT-experienced lender.
Notes
Andover Community Trust uses the community land trust (CLT) model. Verify current home availability, household income limits by family size, and lender list with ACT at andoverclt.org.