Andover Community Trust Homeownership Program

Administered by: Andover Community Trust · Nonprofit · Forgivable Loan

Funding status: Active

How much assistance

ACT retains ownership of the land and leases it to the homeowner at a nominal rate. ACT retains an option to repurchase the house, keeping the unit permanently affordable.

Eligibility

  • Income limits: Household income must be below 80% of the area median income.
  • First-time buyer required: Yes — Must be a first-time homebuyer.
  • Geographic restrictions: Homes are located in Andover, MA.

How to Apply for Andover Community Trust Homeownership Program

Step 1: Visit the Andover Community Trust website to view available homes and application guidelines. Contact Andover Community Trust at (978) 276-9228 for current opportunities.

Visit program website

Notes

Community land trust model where ACT retains land ownership and controls resale price to ensure permanent affordability. 13 homes completed to date (7 single-family, 6 duplexes). Homes built in partnership with Greater Lawrence Technical School. Asset limit of $75,000 for non-age-restricted homeownership units. Requires 3% down payment.

Cities Where This Program Is Available