Prospective Homeowners

The buying process is open to families with income under 120% of the Area Median Income (AMI) who can qualify for a mortgage.

To be considered for a home:

Based on above chart, your family income does not exceed 120% of the AMI.
Complete a Here to Stay pre-screening application (on line)
Attend a Here to Stay Info session (offered once a month).
Attend a HUD homeowners class and obtain a certificate (free).
Complete a Here to Stay application and present documents.
Obtain a mortgage pre-approval letter from one of our partner banks.
Have 1%-3% for the down payment, most of our homes cost $275,000. There are down payment assistance programs for families that qualify.
If you complete all the above and we qualify you for a HTS home we will notify you when we have a home for sale.

Buyer Workshops

Homebuyer education and mortgage readiness are two of the first steps in becoming a homeowner in Here to Stay. Each of our fantastic partners offers pre- and post- purchase counseling and homebuyer education classes required for certain down payment assistance programs. Whatever your schedule, you can find a class here! Programs are offered through:

Frequently Asked Questions

1) What is a community land trust?

A community land trust (CLT) is a form of ownership in which the land of a property is held in a trust owned by a community-led nonprofit organization. The community land trust can be used for parks, commercial, industrial or residential space.

2) What does it mean to buy a home through the Here to Stay CLT?

Here to Stay CLT is focused on creating opportunities for potential homeowners to buy an affordably priced home in the Logan Square, Hermosa, and Avondale neighborhoods. A home buyer buys the building (home) on the land and leases the land underneath from Here to Stay. Because the buyer is only buying the building, not the land, Here to Stay is able to provide deeply discounted prices on the home.

3) What are the advantages of buying a home in Here to Stay CLT?

A. Significant cost savings (each property is sold at a price well below the market/appraised price for the property - at least $75,000 less)

B. The home’s property taxes will be assessed at the affordable price - not the current market value. In Logan Square, Hermosa and Avondale, this can mean as much as a 50% savings on the property taxes.

C. Home owners will not be spending their money on rent each month that provides no long term benefit… Instead, their money will be used to pay down their mortgage, thus increasing their equity in the property and they will also potentially benefit from deducting their mortgage interest they pay on their income taxes; also creating a savings there.

4) If the home is mine, will I be able to do anything I want with it?

There are some differences when you live in a CLT property. These differences are laid out in the ground lease that you sign when you close on the property. The main differences are that you must live in the property, you cannot refinance the property without permission from Here to Stay and if you decide to sell, there are restrictions on who you can sell to. You will be selling the property at a price that will keep it affordable for the next buyer as well.

5) If I am buying a two-flat, are there any restrictions on the rent I can charge?

Our hope is that with lower housing costs relative to the surrounding area, you will be able to offer the unit at an affordable rent. However, this is not required nor monitored by Here to Stay.

6) To learn more sign up for an info session.

Intonation sessions are offered once a month for 30 minutes.