Creating affordable homes and
strengthening communities through the
wise stewardship of land and resources.
strengthening communities through the
wise stewardship of land and resources.
How to Buy a Home with the Land Trust
Finding a Home
Once you have been approved by the Land Trust program and are pre-qualified for a loan, you are ready to look for a house. You can choose to work with a realtor to purchase a Land Trust home or you can choose to purchase a home without a realtor.
There are four ways to buy a home through the Land Trust. Contact Kathy (Kathy@landtrustduluth.org) or Jim (jim@landtrustduluth.org) at the Land Trust to help you decide which program is best for you.
New Construction Program
- The Land Trust builds several new construction homes per year
- Any qualified buyer can purchase one of our new construction homes
- New construction homes are sold $30,000-$60,000 below market value
- Qualified buyers do not need to be first time homebuyers
- New construction homes are built using "Green Communities" standards (30% more efficient than Energy Star ratings)
HOMELAND Program
- With this program, qualified buyers can purchase any existing home in Duluth that is on the market and receive downpayment and rehab assistance from the Land Trust.
- This program is for first-time homebuyers only (some exceptions are made).
- Up to $25,000 in downpayment assistance and up to $24,000 in rehab assistance is available.
- Rehab is administered by the HRA in partnership with the Land Trust.
Resale Program
- Current Land Trust homes that are being resold can be purchased by any qualified buyer.
- Current Land Trust homes up for resale are sold well below market price so no additional financial assistance is needed.
Acquisiton/Rehab Homes
- Older homes are purchased by the Land Trust, renovated by Common Ground, LLC and sold well below market price to qualified buyers.
- Any qualified buyer can purchase a Land Trust renovated home.
- Rehab is done using "Green Communities" standards whenever possible.
Next...Land Trust Homeownership vs. Conventional Homeownership