Housing Purchase Assistance offered by Opal Community Land Trust

286 Enchanted Forest Road, Suite B-101, Eastsound, WA 98245

Eligibility

Reside in San Juan County for at least one year preceding the date of application or be employed or have an employment contract with a San Juan County employer; meet income eligibility requirements; meet asset eligibility guidelines; and be able to qualify for an approved mortgage.

Hours

M-F, 9am-5pm.

(360) 376-3191

Voice

https://www.opalclt.org/buy-your-home/are-you-eligible/

[email protected]

Application process

Call or visit website for more information.

Fees

Includes application fees, OPAL membership, and commitment fee.

Service area

San Juan, WA

Description

Offers a path to homeownership for islanders who are priced out of the real estate market. Homeowners using a community land trust purchase the building and sign a 99-year lease to the land. Homes appreciate modestly according to a resale formula. The formula allows homeowners to earn a reasonable amount of money on their house when they decide to sell, and it keeps the price affordable so another family can buy the same home at an affordable price in the future. Provides housing counseling, budgeting and financial management counseling, and default counseling to all applicants and homeowners.

What's Here

Community Land Trusts Housing Down Payment Loans/Grants Mortgage Delinquency and Default Counseling Homebuyer/Home Purchase Counseling

Providing organization

OPAL Community Land Trust

The mission of OPAL Community Land Trust is to help sustain Orcas Island as a healthy, economically diverse community by providing permanently affordable homes and support for islanders, families, seniors and singles, whose housing needs are not met by the traditional market.