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Housing Purchase Assistance offered at Kulshan Community Land Trust

1715 C Street, Suite 201, Bellingham, WA 98225

Cannot currently own a home and cannot have owned a home for at least three years. Gross household income should be at or below 80% of the area median income (AMI) adjusted for household size. Must have good credit (generally a minimum credit score of at least 620) Must live in the home at least nine months of the year as a primary residence.
M-F, 9am-4pm.
https://www.kulshanclt.org/start-here
[email protected]

Call for more information. Waitlist is about two years.

Must pay a minimum cash contribution of 1% of the purchase price, or $2,500, whichever is greater.

Whatcom, WA

Description

Provides pre-purchase housing counseling, down payment assistance and lower purchase price for people looking to purchase a home. Potential homeowners agree to a fixed rate of equity appreciation (1.5% per year), and are not responsible for repaying the down payment assistance but are responsible for the mortgage. In exchange for the down payment assistance, homeowners agree to sell their home at an affordable price to someone else in the applicant pool. Retains ownership of the land to ensure that the house remains affordable.

Providing organization

Kulshan Community Land Trust

Helps make homes and other things (such as community gardens, commercial space, etc.) affordable and accessible.