What is the Frederick County Affordable Housing Land Trust?

 

The Frederick County Affordable Housing Land Trust started as a partnership between Habitat for Humanity and the Frederick County Commissioners. The purpose is to ensure a sustainable supply of affordable workforce housing. The Frederick County Affordable Housing Land Trust acquires properties that they want to remain affordable; most will be foreclosed abandoned properties. These properties will be rehabbed and then resold to potential homeowners minus the land cost. Targeted homeowners are those households earning between 30% - 80% of the area median income. The homeowner will pay a nominal monthly fee for the land.

 

To qualify for a Land Trust home, our selection criteria are:

 

• Family income is between 30-80% of the area median income for Frederick County, with adjustments for family size.

• Must be able to qualify for a conventional mortgage. FCAHLT will refer potential buyers to participating lenders for pre-qualification. Lenders will determine that the applicant has sufficient income to qualify for a mortgage.

 

In addition to the requirements above, the family must complete 8 hours of home buyer education training offered by Frederick Community Action Agency and attend Land Trust Orientation, which will discuss the requirements of the Homeowner Agreement with the Land Trust.

 

You can download our pre-qualification form and see all of the qualifications required by clicking the button at right.

 

For more information, please contact 301-698-2449 x6 or email jminnick@frederickhabitat.org.

 

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