Rondo Community Land Trust Homebuyer Initiated Program (HIP)

What is 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.

Do you have to pay it back?

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.

Who qualifies?

Rondo Community Land Trust Homebuyer Initiated Program (HIP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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

Where does it apply?

Rondo Community Land Trust Homebuyer Initiated Program (HIP) serves buyers purchasing in Saint Paul, Minnesota.

• The program targets specific areas: St. Paul and suburban Ramsey County (eligibility: Ramsey or Dakota County).

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through Rondo CLT orientation plus pre-purchase homebuyer education..

2. 2

   Contact Rondo Community Land Trust to reserve funds

   Funds are reserved with the provider 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.