Home Ownership

A long-term solution for affordable home ownership opportunities in Northwest Minnesota.

Community land trusts create quality, affordable homeownership opportunities and preserve the affordability of homes for generations. CLTs accomplish this goal through new construction, acquisition and rehab of existing homes, or homebuyer-initiated purchase programs.

CLTs create quality affordable homeownership opportunities in two ways:

1. Providing subsidy in the form 1st mortgage principal reduction, reducing the monthly payment burden to a level affordable to the first buyer, and;
   2. Retaining ownership of the land on which the house is located, triggering a ground lease with a shared-equity resale formula. This allows the CLT to preserve the affordability of the home for generations.