Frequently Asked Questions

Housing costs are generally considered affordable when they constitute no more than 30-35% of household income. This affordability standard is set by the Federal Department of Housing and Urban Development (HUD). Under the land trust model income-qualifying buyers can purchase a home below market rate, often with down payment assistance and an affordable mortgage program. At the point of sale appreciation is limited allowing a new buyer who also income-qualifies to purchase the home.

Any person or household who meets the eligibility requirements may apply. You do not have to be a Denver resident nor a United States citizen to be eligible. However, you must be able to qualify for a mortgage on your own and be residing in the Country legally.

The affordable housing program has maximum income limits which are based on the Denver Area Median Incomes published annually by the U.S. Department of Housing and Urban Development. You can find the current limits posted under ‘Do I Qualify’ on this website.

HUD (Housing and Urban Development) determines the Area Median Income (AMI) based on the census and publishes those numbers each year. The program requires that buyers be at or below 80% of AMI per your household size.
The list of all items considered income are as follows:

• Earnings
• Unemployment compensation
• Worker’s compensation
• Social security
• Supplemental security income
• Public assistance
• Veteran’s payments
• Survivor benefits
• Disability benefits
• Pension or retirement income
• Interest
• Dividends
• Rents, royalties, and estates and trusts
• Educational assistance
• Alimony
• Child support
• Financial assistance from outside of the household

The list of all items that are deducted from income are as follows:

• IRA Deduction
• Medical savings account deduction
• Moving expense deduction
• One-half of self-employment tax
• Self-employed health insurance deduction
• Keogh & self-employed SEP & SIMPLE Plans
• Penalty on early withdrawal of savings
• Alimony paid

Yes. We need verification of your finalized separation or divorce decree.

You should provide a letter from the person giving you the gift indicating the amount of the gift.

The program requires owner occupancy, that at least one person in the household receives income sufficient to meet the mortgage loan and home expense obligations.

You are considered a 2-person household; both people must be on the application and both incomes must be included.

No. You must live in the unit as the primary resident or you must put it up for-sale.

Please fill out the questionnaire on the ‘Future Housing Projects’ tab and submit it. This will insure the CCLT gets your contact information and will know what homes you are interested in so CCLT will include you in informational communications.

The first step you take is to notify CCLT. The resale price formula is based on an appraisal of the home and the CCLT will order a home appraisal, During the appraisal process, a representative of the CCLT will meet with you in the home and discuss the home sale process such as necessary repairs needed, preparing the home for showing to potential buyers and the sale closing.