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.

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.

Thistle Communities Land Trust Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: 620 minimum FICO. A homebuyer education course is required, through HUD-approved homebuyer education; Thistle counseling. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Must purchase a Thistle CLT or Permanently Affordable home in Boulder County; 99-year ground lease; resale restrictions apply.

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.

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.

Thistle Communities Land Trust Homeownership Program serves homebuyers purchasing in Boulder, Colorado. The program targets specific areas: Boulder County (City of Boulder, Longmont, Erie, Lafayette).

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. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.