Northwest Florida Community Land Trust
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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 low-income households. The land trust is an effective alternative to renting for lower-income households seeking the stability of homeownership. It is the vehicle of separating ownership of the land from the home. The CLT builds neighborhood stability, housing equity, and community strength by fostering a healthy mix of housing types, sizes, and prices, affordable at the local wages.
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 Marketing 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 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 willed to dependents
Ongoing support from the CLT
Click the images to view a virtual tour of the floor plans!
Special Projects Coming Soon!
Selection based on homebuyer qualifications.
CLT FAQ
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Any person or household who meets the eligibility requirements may apply.
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Our CLT program requires that buyers be at or below 120% of the Area Median Income. See the income chart below based on the local Area Median Income.
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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.
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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.
CLT Eligibility Requirements
Must be 18 years old.
Must be U.S. citizen or legal permanent resident.
Must have a 640+ credit score.
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 (see chart) 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.
If you’d like to be notified once we begin accepting NFCLT applications, please complete the form below.