Thistle Communities Land Trust Homeownership Program

What is Thistle Communities Land Trust Homeownership Program?

Thistle Communities Land Trust Homeownership Program is a shared-appreciation loan for homebuyers in Boulder, Colorado.

• Thistle Communities operates a Community Land Trust in Boulder County providing permanently affordable homeownership. CLT retains land; buyer owns home. Includes mobile home park resident ownership. Solution Grants available for Thistle CLT buyers in Boulder city limits.
• Permanently affordable CLT homeownership in Boulder County.
• CLT land ownership dramatically reduces purchase price.
• resale-restricted for perpetual affordability.
• DPA for CLT and Permanently Affordable homes.
• mobile home park resident ownership included.
• Funding comes from Nonprofit, Local Government, and Private.

Do you have to pay it back?

Thistle Communities Land Trust Homeownership Program is a shared-appreciation loan and is repaid under the terms set by the administering agency.

• Repayment is triggered by Sale and Transfer (shared appreciation formula at resale).
• The assistance is recorded in CLT ground lease position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Thistle Communities Land Trust Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Thistle Communities Land Trust Homeownership Program limits household income to 80% of the area median income, which varies by county and household size.

• At or below 80% AMI; Boulder County.
• The limit applies to total household income, not only the borrower’s.
• 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?

Thistle Communities Land Trust Homeownership Program caps the purchase price at $600,000.

• Eligible property types include Single Family, Condo, and Townhouse.
• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Thistle Communities Land Trust Homeownership Program serves buyers purchasing in Boulder, Colorado.

• The program targets specific areas: Boulder County (City of Boulder, Longmont, Erie, Lafayette).

How do you apply?

Applications for Thistle Communities Land Trust Homeownership Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer education; Thistle counseling.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through First-Come-First-Served, and are subject to availability.

3. 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.