Start by checking the Qualifying Form to determine if you might be eligible for the program, then fill out our application to determine your eligibility and we will work with you to find a home that best fits your needs.

All Cass Clay CLT homebuyers must meet our income eligibility guidelines and get a pre-approval letter for a conventional mortgage (30-year, fixed rate)

No. Cass Clay CLT homeowners who benefit from the affordable purchase price of their home agree to Cass Clay CLT’s resale formula to help the limited-income home buyer who comes after them.

A conventional community land trust (CLT) is a nonprofit, community-based organization that works to provide perpetually affordable home ownership opportunities. In the truest sense, a CLT acquires land and removes it from the speculative, for-profit, real estate market. CLT’s hold the land they own “in trust” forever for the benefit of the community by ensuring it will always remain affordable for homebuyers. Like all nonprofits, CLT’s follow local laws and zoning requirements as well as the organizational bylaws put in place when the CLT was established. CLT’s are governed by a board of directors made up of community members and CLT homeowners. Members of the CLT elect the board of directors. There are over 240 CLT’s in the nation today as well as several organizations using the CLT model to provide affordable home ownership opportunities in Minnesota and North Dakota. There are CLT’s in cities, suburbs and rural areas.

Affordability: CLT homes are more affordable than homes purchased on the open real estate market because of the affordability assistance provided to homebuyers.

Mortgage: Consistent and affordable mortgage principal and interest payments.

Community: CLT homeowners are members of the organization. As part of this larger community, they can choose to participate in the CLT community through voting, volunteering, and/or becoming a CLT board member or serving on a committee.

Stability: Home ownership provides stable housing costs and security from eviction. This stability provides a solid foundation, giving homeowners the opportunity to pursue other goals such as going back to school or getting better jobs.

The CLT homeowner holds many of the same rights and responsibilities as a conventional homeowner including paying for all the taxes associated with the property. As with all homeowners, property taxes and mortgage interest are tax deductible. Many CLT homeowners may also be eligible for a property tax refund.

All persons who will live in the home at the time of the closing are included when determining household size.