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Get Matched Free →Rondo Community Land Trust Homebuyer Initiated Program (HIP)
Funding status: Active
How much assistance
Affordability Investment Grant plus a Rehab Grant for essential repairs; combined subsidy varies by home and household
Land is owned by Rondo CLT under a 99-year ground lease. Homeowner agrees to a formula resale price that preserves affordability for the next income-qualified buyer.
Eligibility
- Income limits: At or below 80% Area Median Income.
- First-time buyer required: No
- Geographic restrictions: Property must be a single-family home or duplex in Saint Paul or suburban Ramsey County.
- Homebuyer education required: Yes
How to Apply for Rondo Community Land Trust Homebuyer Initiated Program (HIP)
Step 1: Contact Rondo CLT to attend a buyer orientation and complete homebuyer education and counseling. Once approved, buyers select a home of their choice on the open market and Rondo CLT layers the Affordability Investment and Rehab Grants at closing.
Notes
Rondo CLT has facilitated over 100 affordable homeownership opportunities. Resale price restrictions apply for the life of the ground lease.