Down Payment Assistance

How it Works

This program provides income-qualified, mortgage-ready homebuyers with a flexible grant towards their down payment, closing costs, or home repairs.

In exchange, the homebuyer signs a long-term ground lease with West End Community Land Trust, thereby separating ownership of the land from that of the physical house. This lease arrangement will also incorporate additional terms and conditions, such as specifying resale price restrictions and land-use restrictions to prioritize affordable housing or community-driven initiatives.

Once the terms of the down payment assistance grant and the long-term ground lease have been agreed upon, both the home and homeowner become a part of the West End Community Land Trust!

FAQs

  • Individuals and families under 80% of area median income, who are prequalified for a mortgage loan and ready to buy a house or who are prequalified for a home repair loan.

  • The size of the grant is determined based on each individual’s need for downpayment support as well as the repairs and updates the specific home needs.

    For example, if a home is listed for $160,000 but a buyer is pre-qualified for a $140,000 mortgage, CBCLT could provide $20,000 of downpayment support so that the buyer can afford the home.

  • Homes must be located within the service area of West End CLT.

    The maximum list price for a home to be considered for this program is $160,000, and the homes are subject to West End CLT approval. West End CLT will look for issues related to structural integrity and key life safety items. Professional inspections are mandatory in order for homes to be considered for this program.

  • If you’d like to begin an application, fill out the form here and indicate that you are interested in the down payment assistance program.

  • Complete the form here to contact a West End CLT team member!