Direct Development Properties
City of Bridges Community Land Trust partners with affordable housing developers to build new homes, and sell them at below-market rates. Homes created and sold by City of Bridges CLT will remain affordable for future limited-income buyers, preserving affordability for an area. This includes the purchase and rehabilitation of existing homes. No minimum income is required to apply, however, buyers must pre-qualify for a mortgage loan.
The Buyer-Initiated program offers down payment assistance to income-qualified homebuyers. The program provides mortgage-ready homebuyers with flexible grants of up to $30,000 to put toward down payments, closing costs, or home repairs on homes in the area, listed at $150,000 and under. In return, homes purchased through this program will become a part of the City of Bridges Community Land Trust, ensuring that they are permanently affordable for low- and moderate-income households.