Northwest Florida Community Land Trust

What is the Northwest Florida Community Land Trust?

Established in 2023, the Northwest Florida Community Land Trust is a shared equity homeownership model designed to make homeownership attainable for more members for our community. The land trust is an effective alternative to renting for households seeking the stability of homeownership. Through the community land trust, a buyer purchases the home but the land remains owned by the Community Land Trust. The Community Land Trust lowers the initial cost of homeownership and ensures permanent affordability for future generations.

How do I know if I qualify for a home within the land trust?

Upon application submission via the Programs Application Portal, our Programs team will reach out to the applicant to clarify the options they qualify for. These may include a new construction home under our traditional Homebuyer Program, an Open Market home, a rehabilitated home, or a new construction home within the Northwest Florida Community Land Trust. Ultimately, the applicant will be able to choose an option based on their eligibility! Learn more about the eligibility requirements for the NFCLT.

CLT Eligibility Requirements

Must be 18 years old.
Must be U.S. citizen or legal permanent resident.
Must have a 640+ credit score.
For a home in Escambia County, minimum income is $35,000.
For a home in Santa Rosa County, minimum income is $30,000.
Must have 2 years of stable, documented income or employment history including Social Security or retirement.
Must have been employed at your current job for at least 12 months or any part-time job for at least 2 years.
Must not currently own a livable home or have an existing mortgage balance.
Must have lived or worked in Escambia or Santa Rosa County for at least 1 year prior to applying.

Must maintain an annual gross income within our income guidelines from initial intake to loan application.
Must have less than or equal to $1,000 of collections or bad debt and any unpaid collection accounts must be paid off in full with proof of payment prior to applying for a mortgage.
Must be able to demonstrate an ability to pay $3,500-$5,000 towards closing costs.
Must have not had a bankruptcy discharged in the last 2 years; limit of 1.
Must have not had a foreclosure/ short sale finalized in the last 3 years; no multiple foreclosures or short sales.

Find out if you qualify today!

Apply Now

CLT homeownership benefits include:

Lower costs to enter homeownership
Greater housing security than renting
Stable affordable monthly payments enabling savings for other life goals like retirement, education, etc.
Security from eviction
Opportunity to build equity through homeownership
Home and ground lease can be passed down to qualifying dependents
Permanent affordable housing for our community

How does the CLT model make my home affordable?

With CLT homeownership, you purchase a fee simple estate WITHOUT purchasing the land. By removing the burden of the cost of the land from the mortgage, the home is able to be sold more at a more affordable price. The 99-year lease functions like a legal ownership; the CLT is NOT a landlord. This helps reduce monthly payment costs and ensures that the home will remain affordable in perpetuity.

Who may apply for this program?

Any person or household who meets the eligibility requirements may apply.

What are the income limits for the CLT?

Our CLT program requires that buyers be at or below 120% of the Area Median Income. For a home in Escambia County, minimum income is $35,000. For a home in Santa Rosa County, minimum income is $30,000.

Can I purchase a home in the CLT for a family member or friend?

Our CLT program requires owner occupancy. At least one person in the household must receive enough income to meet the mortgage loan and home expense obligations. These homes cannot be gifted or purchased for other tenants.

How does the CLT ensure affordability?

The CLT retains ownership of the land on which homes are constructed. CLT residents agree that when they move on to another housing opportunity, they will extend the same benefit they received to another low- to moderate-income individual or family. When a CLT home is resold, the sales price is determined by a formula in the ground lease. The formula is designed to balance equity gain for the owner at the same time it sets a resale price that is affordable to the next buyer.

Thank you, Impact100, for being a vital partner in our Community Land Trust. Your generous donation has made it possible for us to purchase additional land, creating more opportunities to build safe, affordable homes for families in our community. We’re deeply grateful for your support in helping us expand our impact.