Steps to Homeownership

Introduction

Our homeownership program is open to individuals, families, seniors — any homebuyer who is income qualified (see below) and wants to live in the greater Charlottesville area. When thinking about your eligibility, you should consider your income and employment, as well as your credit history and savings. These are the factors a lender will consider when you apply for a mortgage. We recognize that homebuyers may be at different stages of the homebuyer process. We can help connect you to other community resources to assist you.

If you want to buy a house with Thomas Jefferson CLT, a homeownership counselor can help you identify how much you can afford and your eligibility. During the final application process, you will meet one on one with a TJCLT staff member to review your specific situation.

Income Qualification

In order to qualify for a TJCLT home, your entire household income must be equal to or less than 80% of the Area Median Income in Charlottesville. The US Department of Housing and Urban Development releases these income limits each year.

For 2020, look at the list below. If you make less than the amount listed for your household size, then you may qualify:

1-person household = $52,600

2-person household = $60,100

3-person household = $67,600

4-person household = $75,100

5-person household = $81,150

6-person household = $87,150

7-person household = $93,150

8-person household = $99,150

Resources

TJCLT Homeownership Orientation Form

This document will help you define all of the terms associated with a community land trust and orient you to the CLT model.

TJCLT Sample Ground Lease

This sample ground lease details the specifics of the agreement that a CLT homeowner makes with the TCLT. If you have any questions about the TJCLT ground lease, please contact us!

Plain Language Summary of TJCLT Ground Lease

Prospective homeowners will receive a document that summarizes each section of the TJCLT ground lease in plain language that is simple and understandable to all audiences. If you have any questions about the TJCLT ground lease, please contact us!

Steps to Homeownership

We are always working to add to the supply of available Community Land Trust homes in the area. While we may not always have properties currently available, we encourage you to register so that we can contact you when new units come available.