Frederick County Affordable Housing Land Trust
The Frederick County Affordable Housing Land Trust is the first Community Land Trust in the state of Maryland. It received the Innovation Award from the Community Development Network of MD in 2016 for its trailblazing efforts to create long-lasting affordable housing units for our neighbors in need of affordable homeownership solutions.
Through this program, Habitat for Humanity of Frederick County obtains homes throughout the County that are rundown, in disrepair, or otherwise available at a low cost. The homes are repaired and renovated by volunteers and local partners to be ready to resell as an affordable housing unit. When the home is finished, it is sold to an income-qualified home buyer; however, the Land Trust retains ownership of the land, which reduces the purchase price to the homeowner. Through a 99-year renewable lease, the homeowner pays an annual fee to the Land Trust, which supports its operations, and the Land Trust retains permanent ownership of the land.
Land Trust homeowners can sell their home, at a price set by the Land Trust, and earn a portion of the increase in the value of their home. The home is sold to a new qualifying home buyer at a price that has been kept affordable. Through this model, Land Trust homes are kept in affordability for perpetuity.
To qualify as a Land Trust homeowner, you must have:
- Experienced barriers to becoming a home buyer. This could be difficulty qualifying for a mortgage, an inability to save enough for a down payment and closing costs, or low credit scores.
- Currently lives or works in Frederick County (for a minimum of one year).
- A total family income between 30% and 80% of Frederick County’s median income. See the below chart for qualifications.
Based on the concept of partnership, Habitat for Humanity commits to working with the local community to renovate Land Trust houses and sell them to qualified buyers with a low-interest mortgage. In turn, Land Trust home buyers must contribute “sweat equity” on the home renovation or volunteer in other ways. Additionally, they must attend home ownership workshops, follow program guidelines and repay their mortgage.
To be considered for the Land Trust program…
To be considered for an upcoming Land Trust home purchase, complete the interest form and return it to firstname.lastname@example.org or mail to:
Habitat for Humanity of Frederick County, MD
PO Box 338
Frederick, MD 21701-0338
A few of our Land Trust homeowners…