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Our Program

What you should know before buying a Home Trust home

 

Before you apply to our homeownership program we recommend that you have a general understanding of community land trust programs. The purpose of a community land trust (CLT) is to provide permanently affordable housing while preserving land for the benefit of the community. As a land trust, we exist not only for current homebuyers but also for those who will purchase the home in the future. Remember that Home Trust properties must remain affordable, which will affect the home's resale price and keep it below private market value. (Note: answers to a lot of commonly asked questions can be found on our FAQ's page.)

Click on our Qualifications page to see the requirements that must be met to own a Land Trust home. Find out about our homebuying process on our Steps To Buy page. Also, you can find a list of local banks that work with us on our Lenders information page. They can help you pre-qualify for a loan.

Here’s how it works. In Orange County, developers set aside a portion of all the new homes they develop for use as permanently affordable housing. Community Home Trust (CHT) buys these homes from the developer and retains ownership of the land. It conveys ownership of the built home to a qualified buyer through a renewable 99 year ground lease. We sell our homes to people who earn 80% or less of the Area Median Income (AMI). All our homes are owner occupied. Our homes remain affordable because their resale is permanently limited to people who earn 80% or less of the AMI.

  1. Home Trust homeowners accrue limited equity.
  2. Home Trust homeowners fully maintain their homes and pay all property taxes, insurance, and other home ownership expenses.
  3. Home Trust homes may not be leased or sold except through the Community Home Trust.
  4. Home Trust homeowners may bequeath their homes to their heirs.
  5. Improvements to the property are allowed, with the exception of structural changes, but these costs do not increase equity or affect resale price.

If you believe you are interested in the Community Home Trust program, we encourage you to attend an orientation session to determine if owning a CHT home is right for you. You may also view our available properties.