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Housing Purchase Assistance offered at Kulshan Community Land Trust

1715 C Street, Suite 201, Bellingham, WA 98225

Eligibility

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.

Hours

9am to 4pm from Monday through Friday

Application process

Call for more information. Waitlist is about two years.

Fees

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

Service area

Whatcom, WA
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.

Data provided by

Washington 211

Providing organization

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