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Sawmill Community Land Trust Homebuyer Program

Sawmill Community Land Trust · Albuquerque, New Mexico

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See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Shared appreciation

Settled on the terms set by Sawmill Community Land Trust

What is Sawmill Community Land Trust Homebuyer Program?

Sawmill Community Land Trust Homebuyer Program is a shared-appreciation loan for homebuyers in Albuquerque, New Mexico, administered by Sawmill Community Land Trust.

  • Sawmill Community Land Trust (SCLT) is an Albuquerque 501(c)(3) community land trust that provides permanently affordable homes for low- to moderate-income, income-qualified first-time homebuyers who can secure a conventional mortgage. Down-payment assistance is available to income-qualified first-time buyers (or those who have not owned a home in the past three years) earning at or below 80% of the Albuquerque AMI. Buyers own their home and lease the land from the trust under a 99-year renewable ground lease; in exchange they agree to resale restrictions that keep the home affordable for future buyers. SCLT also provides HUD-certified homebuyer education, financial counseling, and post-purchase support.
  • Down-payment assistance for income-qualified first-time buyers; access to permanently affordable, below-market homes; low monthly land-lease fee; HUD-certified homebuyer education, counseling, and post-purchase support.
  • Funding comes from Sawmill Community Land Trust; City of Albuquerque Affordable Homeownership Assistance (CDBG/HOME subrecipient funds) supports down-payment/mortgage-reduction assistance for SCLT buyers.

Do you have to pay it back?

Sawmill Community Land Trust Homebuyer Program is a shared-appreciation loan and is repaid under the terms set by Sawmill Community Land Trust.

  • Repayment is triggered by Resale of the home; resale price is restricted by the ground lease formula to preserve affordability for the next buyer.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Sawmill Community Land Trust Homebuyer Program 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: Eligible if the applicant has not owned a home in the past three years
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through Sawmill Community Land Trust (HUD-certified homebuyer education and financial counseling)
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. Buyer must be income-qualified (<=80% AMI), a first-time homebuyer (or not have owned in past 3 years), occupy the home as a primary residence, secure a conventional first mortgage, and sign a 99-year renewable ground lease with resale restrictions. Exact dollar amount of down-payment assistance, interest rate, lien position, term, DTI, credit score, and fees are not published on the SCLT primary-source pages and were left blank rather than guessed; prospective buyers should contact SCLT for current terms. Down-payment/mortgage-reduction assistance for SCLT buyers is partly funded through the City of Albuquerque's Affordable Homeownership Assistance program (CDBG/HOME).

The program excludes

  • Manufactured homes
  • Households above 80% of area median income

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?

Sawmill Community Land Trust Homebuyer Program limits household income to 80% of the area median income, which varies by county and household size.

  • Combined household annual income at or below 80% of the Albuquerque Area Median Income (AMI). Published 80% AMI limits by household size: 1=$51,200; 2=$58,500; 3=$65,800; 4=$73,100; 5=$78,950; 6=$84,800; 7=$90,650; 8=$95,500.
  • The limit applies to total household income, not only the borrower&rsquo;s.
  • The program lists a maximum household size of 8.
  • 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?

Sawmill Community Land Trust Homebuyer Program caps the purchase price as follows: Homes are price-restricted/affordable homes sold within the community land trust (price set under the CLT model); not a fixed published cap.

  • Eligible property types include Single Family, Condo, and Townhouse.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Sawmill Community Land Trust Homebuyer Program serves buyers purchasing in Albuquerque, New Mexico.

How do you apply?

Applications for Sawmill Community Land Trust Homebuyer Program go through Sawmill Community Land Trust, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Sawmill Community Land Trust (HUD-certified homebuyer education and financial counseling).

  2. Contact Sawmill Community Land Trust to reserve funds

    Funds are reserved through Submit homebuyer application to SCLT; applications reviewed and qualified buyers contacted for next steps. Homes are sold as available within the land trust., 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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