Central Minnesota Community Land Trust: Existing Homes

The Central MN CLT and an Existing Home...Your Ticket to Homeownership!

The Central Minnesota Community Land Trust offers a variety of assistance and financing to eligible buyers purchasing an existing home in designated St. Cloud neighborhoods.

Potential buyers will meet the following requirements:

Your annual income must be at or below 80% Area Median Income limits
You must have an acceptable credit history and a stable source of income to mortgage quailify
You must work with a participating Community Land Trust lender in the St. Cloud area
You must have adequite savings to cover a reduced down payment and closing costs
Buyers must complete a Home Stretch first time homebuyer workshop
*Other restrictions may apply

Meeting these initial requirements means you may be eligible to utilize sale prices reductions and affordable financing products to purchase an existing home in St. Cloud.

Tired of Renting...

Own a Home Without it Owning You!

Affordable financing products and assistance are available to help you achieve a monthly mortgage payment you can afford. Check out what we have to offer.

A sales price reduction of up to $25,000! We purchase the lot and you purchase the home. A great way to own your first home
An affordable first mortgage product that offers below market interest rate and a 40 year term option.
Entry Cost Assistance of $3,000. This is a 0%, deferred loan that helps you with down payment and closing costs
Monthly Payment Assistance. Receive monthly payment reductions of $75 the first year of your mortgage, $50 the second year and $25 the third year

We want to make sure your home is in great shape. Through the Existing Housing CLT Program, we offer 0%, deferred rehabilitation loans. Homes will be inspected to determine what items need to be fixed. Up to $15,000 is available to replace items such as: roof, windows, siding, furnace and energy efficiency issues.