Rondo Community Land Trust Homebuyer Initiated Program (HIP)

Rondo Community Land Trust Homebuyer Initiated Program (HIP) is a grant for homebuyers in Saint Paul, Minnesota, administered by Rondo Community Land Trust. Rondo CLT's Homebuyer Initiated Program (HIP) helps income-qualified households (<=80% AMI) buy and rehabilitate single-family homes or duplexes in St. Paul and suburban Ramsey County. Participants receive an Affordability Investment Grant (paired with their mortgage to boost purchasing power) and a Rehabilitation Grant (for essential repairs) under a permanently affordable community land trust model. Affordability Investment Grant boosts purchasing power. Rehabilitation Grant funds repairs. Buyer chooses their own home with an approved lender. Ongoing post-purchase stewardship. Funding comes from Rondo Community Land Trust.

Rondo Community Land Trust Homebuyer Initiated Program (HIP) is structured as a grant, so it is not repaid. The assistance is recorded in Community land trust (ground lease) model position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Rondo Community Land Trust Homebuyer Initiated Program (HIP) is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through Rondo CLT orientation plus pre-purchase homebuyer education. CLT model with permanent affordability and resale restrictions via ground lease. Required Rondo CLT orientation and use of an approved lender.

Rondo Community Land Trust Homebuyer Initiated Program (HIP) limits household income to 80% of the area median income, which varies by county and household size. Household income <= 80% of AMI at closing. The limit applies to total household income, not only the borrower&rsquo;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.

Rondo Community Land Trust Homebuyer Initiated Program (HIP) can be used for Single Family and 2-4 Unit.

Rondo Community Land Trust Homebuyer Initiated Program (HIP) serves homebuyers purchasing in Saint Paul, Minnesota. The program targets specific areas: St. Paul and suburban Ramsey County (eligibility: Ramsey or Dakota County).

Applications for Rondo Community Land Trust Homebuyer Initiated Program (HIP) go through Rondo Community Land Trust, which publishes the current terms and the application steps on its own site. 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.