Is Community Home Trust Right for You? What We Are (and What We’re Not)
Community Home Trust is a community land trust (CLT) that makes homeownership attainable for working individuals and families in the Chapel Hill and Orange County, North Carolina community.
Our home buying program is a strong fit for people with steady income who still can’t break into the private market. High prices and large down payments keep many hardworking households renting, even when they could comfortably manage a mortgage. CHT exists to help close that gap.
Because our model is different from a typical home purchase, people sometimes misunderstand how it works. Here’s a clear look at what CHT offers, and what it doesn’t.
What CHT offers
A significantly lower purchase price. In our shared-equity community land trust model, the cost of the land is removed from the price of the home. You buy the house; the trust holds the land. That one change brings the purchase price well below what a comparable home would cost on the open market.
Down payment assistance. Qualified buyers can receive help with their down payment, so the cash you need up front stays manageable.
Support after you move in. Buying the home is just the beginning. CHT offers ongoing support to homeowners, including programs that help with maintenance and property upkeep.
What CHT is not
We don’t give away homes. CHT buyers purchase their homes. Like any homeowner, they pay a monthly mortgage along with related costs such as HOA dues.
We’re not low-income housing. Our program is designed for moderate-income households. Most of our buyers earn between 60% and 80% of the area median income (AMI), and households earning up to 115% of AMI can qualify. Buyers also need stable income and good credit to qualify for a mortgage through one of our lending partners, and they’re responsible for their own closing costs. Learn more about eligibility requirements and AMI.
We’re not a landlord. CHT homeowners are responsible for maintaining their homes, just like any other homeowner. What we provide is support: services that help homeowners keep up their homes affordably.
Is CHT a good fit for you?
If you have a steady job, good credit and a budget that can handle a monthly mortgage, but today’s prices and down payments feel out of reach, CHT could be your path to owning a home in Orange County.
Ready to take the next step? Learn about eligibility and how to apply for our program.
