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ICCF Community Homes Land Trust (CHLT)

ICCF Community Homes · Grand Rapids, Michigan

Last verified
See what you qualify forOfficial program site →
Repayment

Shared appreciation

Settled on the terms set by ICCF Community Homes

What is ICCF Community Homes Land Trust (CHLT)?

ICCF Community Homes Land Trust (CHLT) is a shared-appreciation loan for homebuyers in Grand Rapids, Michigan, administered by ICCF Community Homes.

  • ICCF Community Homes' Community Homes Land Trust (CHLT), founded in 2019, offers income-eligible first-time homebuyers move-in-ready renovated or newly constructed homes in West Michigan at a significantly reduced price. ICCF retains ownership of the land while the buyer purchases the home; on resale a formula limits the buyer's profit so the home stays affordable.
  • Below-market home purchase price.
  • Permanently affordable CLT model.
  • Protects buyers from investor competition.
  • HUD-certified education and counseling included.

Do you have to pay it back?

ICCF Community Homes Land Trust (CHLT) is a shared-appreciation loan and is repaid under the terms set by ICCF Community Homes.

  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

ICCF Community Homes Land Trust (CHLT) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: HUD definition of first-time homebuyer applies
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through ICCF Introduction to Homeownership Class (HUD/MSHDA-approved); ICCF Housing Counseling; other HUD-approved providers
  • DRAFT (dpa-gap-finder 2026-06-12): pending review. Must complete HUD-certified homebuyer education and obtain pre-approval. Income guidelines in CHLT guide (exact AMI not confirmed here). VA/FHA loans ineligible for land trust properties. Conventional financing required. Founded 2019; actively operating.

The program excludes

  • Manufactured homes

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?

ICCF Community Homes Land Trust (CHLT) sets its income limit as follows: Income guidelines apply; specific AMI % and dollar amounts in the CHLT Homebuyer and Homeowner Guide.

  • 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?

ICCF Community Homes Land Trust (CHLT) can be used for Single Family and Condo.

  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

ICCF Community Homes Land Trust (CHLT) serves buyers purchasing in Grand Rapids, Michigan.

How do you apply?

Applications for ICCF Community Homes Land Trust (CHLT) go through ICCF Community Homes, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through ICCF Introduction to Homeownership Class (HUD/MSHDA-approved); ICCF Housing Counseling; other HUD-approved providers.

  2. Contact ICCF Community Homes to reserve funds

    Funds are reserved with the provider 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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