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Get Matched Free →Homestead Community Land Trust Homeownership
Funding status: Active
How much assistance
Homes sold 30-50% below market through community land trust model (Silent Second Mortgage)
Permanent affordability preserved through 99-year ground lease and resale formula. Buyer keeps a limited share of appreciation.
Eligibility
- Income limits: At or below 80% AMI for King County
- First-time buyer required: Yes — Borrower has not owned a primary residence in the past three years.
- Credit score minimum: 640
- Geographic restrictions: Primarily King County, Washington. Minimum 1% down or $2,500 from buyer, whichever is greater. Buyer must use all but $15,000 of liquid assets toward purchase.
- Homebuyer education required: Yes
How to Apply for Homestead Community Land Trust Homeownership
Step 1: Join the Homestead Community Land Trust interest list at homesteadclt.org.
Step 2: Complete intake and attend an orientation.
Step 3: Complete HUD-approved homebuyer education.
Step 4: When a home becomes available that fits your household size and income, apply for that home.
Step 5: Close on a permanently affordable home with a 99-year ground lease.
Notes
Contact Homestead Community Land Trust at (206) 323-1227 or info@homesteadclt.org. Inventory-dependent; availability varies.