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Get Matched Free →Kulshan Community Land Trust Homeownership
How much assistance
Homes sold below market through a community land trust model; long-term affordability maintained via 99-year ground lease. (Silent Second Mortgage)
No forgiveness in the traditional sense. Buyers own the home while Kulshan retains ownership of the underlying land via a long-term ground lease. At resale, homes are sold at a formula-restricted price to preserve affordability for the next buyer.
Eligibility
- Income limits: Total household income must be at or below 80% of Whatcom County area median income, adjusted for household size.
- First-time buyer required: Yes — Buyer cannot currently own a home and must not have owned a home for at least three years (limited exceptions in Kulshan's Homebuyer Eligibility Policy).
- Credit score minimum: 620
- Geographic restrictions: Homes available in Bellingham and throughout Whatcom County. Buyer must occupy the home as a primary residence for at least nine months each year.
- Homebuyer education required: Yes
How to Apply for Kulshan Community Land Trust Homeownership
Step 1: Complete Kulshan's homebuyer education, then apply via kulshanclt.org/start-here. Must secure a pre-approval letter for a 30-year, fixed-rate mortgage from one of Kulshan's lending partners. Debt-to-income ratio capped at 45% (total) and housing payment capped at 35% of gross monthly income.
Notes
Community land trust model creates permanent affordability. Resale price is restricted by formula so the home stays affordable for future buyers. May be combined with the Kulshan CLT track of the Bellingham Downpayment Assistance Program (up to $75,000 at 0% interest).