DCLT Permanently Affordable Homeownership Program (Community Land Trust)

DCLT Permanently Affordable Homeownership Program (Community Land Trust) is a shared-appreciation loan for homebuyers in Durham, North Carolina, administered by Durham Community Land Trustees, Inc. Durham Community Land Trustees provides permanently affordable homeownership through the community land trust shared-equity model. DCLT retains ownership of the land (leased to the homeowner for 99 years, renewable, at a low monthly fee) while the buyer owns the home. A resale formula limits the seller's share of appreciation (25-45%) so homes stay affordable. Buyers must earn at or below 80% AMI for Durham County, occupy as primary residence, qualify for a partner-lender mortgage, and complete land trust orientation plus HUD-certified homebuyer education. Below-market purchase prices on permanently affordable homes. low monthly land-lease fee. build limited equity (25-45% of appreciation). ongoing DCLT stewardship. Funding comes from Partners include City of Durham, Durham County, NC Dept of Housing, Wells Fargo, PNC Bank, Coastal Credit Union Foundation, Burt's Bees Foundation, The Conservation Fund, NALCAB.

DCLT Permanently Affordable Homeownership Program (Community Land Trust) is a shared-appreciation loan and is repaid under the terms set by Durham Community Land Trustees, Inc.. Repayment is triggered by Resale of the home; DCLT retains a repurchase option. Homeowner receives original price plus 25-45% of appraised appreciation. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

DCLT Permanently Affordable Homeownership Program (Community Land Trust) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Not stated; buyer must qualify for a mortgage through a partner lender. A homebuyer education course is required, through DCLT land trust orientation plus HUD-certified homebuyer education (locally led by DHIC). Shared-equity CLT, not cash DPA. Assistance amount/percentage, interest rate, lien position, credit, DTI, min contribution not published (left blank). Exact shared-equity percentage per sale (within 25-45%) not specified online. No standalone guidelines PDF on site; income limits and resale formula are on-page content.

DCLT Permanently Affordable Homeownership Program (Community Land Trust) limits household income to 80% of the area median income, which varies by county and household size. Total household income at or below 80% AMI for Durham County. 2026 80% AMI limits: 1=$71,200; 2=$81,400; 3=$91,550; 4=$101,700; 5=$109,850; 6=$118,000. 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.

DCLT Permanently Affordable Homeownership Program (Community Land Trust) caps the purchase price as follows: Set per home; current listings $248,000-$280,000 (resale-restricted). No published program-wide max. Eligible property types include Single Family and Townhouse. New construction is eligible.

DCLT Permanently Affordable Homeownership Program (Community Land Trust) serves homebuyers purchasing in Durham, North Carolina. The program targets specific areas: DCLT properties concentrated in Durham neighborhoods: West End, Southside & Hayti, East Durham, Central Durham, Lakewood Park, plus Everton, Carpenter Falls, ECO Grace.

Applications for DCLT Permanently Affordable Homeownership Program (Community Land Trust) go through Durham Community Land Trustees, Inc., which publishes the current terms and the application steps on its own site. Funds are reserved through Attend a free homebuyer info session, complete land trust orientation and HUD-certified homebuyer education, then apply; waitlist available. 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.