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Irvine Community Land Trust - Affordable Homeownership

Irvine, California

Last verified
See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Shared appreciation

Settled on the terms set by the administering agency

What is Irvine Community Land Trust - Affordable Homeownership?

Irvine Community Land Trust - Affordable Homeownership is a shared-appreciation loan for homebuyers in Irvine, California.

  • Community land trust providing permanently affordable homeownership in Irvine for households earning up to 120% AMI. Ground lease model keeps homes affordable in perpetuity. City of Irvine affiliated.
  • shared equity with provider at resale.
  • Funding comes from City of Irvine / Non-profit / Grants.

Do you have to pay it back?

Irvine Community Land Trust - Affordable Homeownership is a shared-appreciation loan and is repaid under the terms set by the administering agency.

  • Repayment is triggered by Resale subject to CLT resale formula and CLT has right of first refusal.
  • The assistance is recorded in 2nd lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Irvine Community Land Trust - Affordable Homeownership is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • On credit: Contact lender for current credit score requirements
  • A completed homebuyer education course
  • Residency: Irvine, CA
  • Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen
  • Must be City of Irvine resident or worker for priority consideration. 99-year ground lease. Strict resale formula limits appreciation to preserve long-term affordability.

The program excludes

  • Manufactured homes
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Irvine Community Land Trust - Affordable Homeownership limits household income to 80% of the area median income, which varies by county and household size.

  • Low to moderate income: household income ≤120% AMI.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Irvine Community Land Trust - Affordable Homeownership caps the purchase price as follows: Conforms to FHA/conventional loan limits for this county; contact program for current limits.

  • Eligible property types include CLT resale-restricted single-family or condominium.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Irvine Community Land Trust - Affordable Homeownership serves buyers purchasing in Irvine, California.

How do you apply?

Applications for Irvine Community Land Trust - Affordable Homeownership go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved through Contact provider directly; subject to funding availability, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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