Are you dreaming of owning a home in Houston but finding the market prices out of reach? The Harris County Community Land Trust (HCCLT) has a groundbreaking solution that could make your dream a reality. A unique initiative designed to help every day, modest-income homebuyers purchase high-quality homes in Harris County at an affordable cost.
What is the Harris County Community Land Trust?
The Harris County CLT is a program dedicated to providing and preserving affordable housing for residents of Harris County. It offers a solution for individuals and families who find traditional homeownership financially challenging. By partnering with the CLT, you can purchase a home at a more affordable price, ensuring that renting is not your only option.
How Does it Work?
The CLT operates by purchasing or receiving houses and making them available for sale to limited-income homebuyers. When you purchase a home through the CLT, you are buying the house while the land remains owned by the CLT. This unique approach significantly reduces the purchase price, making homeownership more attainable.
Benefits of the Program
Affordable Purchase Price: The CLT offers homes at a more affordable price, making homeownership achievable for low to moderate-income households.
99-Year Renewable Ground Lease: As part of the sale, the CLT provides a 99-year renewable ground lease, ensuring that the home remains affordable and is not subject to skyrocketing rents.
Full Use of the Land: Despite not owning the land, CLT homeowners have full use of the land, just like traditional homeowners.
Community-Oriented Approach: CLTs are governed by a board of CLT residents, community residents, and public representatives, ensuring that the program remains focused on community needs.
Qualifying for the Program
To qualify for the Harris County CLT program, applicants must meet certain criteria, including:
Having a gross annual household income of less than 80% of the area median income (AMI).
Attending and completing a HUD-approved homebuyer education.
Maximum front-end (mortgage payment to income) debt-to-income ratio is 35% and the maximum back-end (debts and mortgage payments to income) ratio is 42%.
Liquid assets must not be over $15,000.
Homebuyer must contribute at least $500 of their own funds towards down payment and closing costs.
Household income contributors must be US citizens or have a "Green Card" as proof of permanent residence.
All household members applying for mortgage must have an average combined credit score of 620 (subject to change). Retirement, annuities, and bonds are excluded.
2023 Area Median Income
Household Size | 80% AMI |
1 | $52,200 |
2 | $59,650 |
3 | $67,100 |
4 | $74,550 |
5 | $80,550 |
6 | $86,500 |
2023 HUD Income Limits
Take the First Step Toward Homeownership
Don't let high housing costs keep you from achieving your dream of homeownership. The Homebuyer Choice Program offers a pathway to affordable homeownership in Houston. Take the first step by applying online and see if you qualify for this life-changing opportunity.
Note: As of July 17, 2024, Harris County Community Land Trust is no longer accepting applications.
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