The CLT/SEH map includes (1) nonprofits that are adopting or have adopted one or more shared equity homeownership (SEH) models*, and (2) nonprofits, governments, or other entities that identify or plan to identify as a community land trust (CLT).
INCLUDED
EXCLUDED
Regardless of the legal mechanism (i.e., ground lease, deed restriction or second mortgage), nonprofits with/plan to have shared equity homes, such as:
Entities that are not using a hybrid CLT model, and instead, are providing one or more of the following:
Community land trusts, including:
* Shared equity homes are sold to households for less than their market-rate value to make the home affordable. In return, the household agrees to resell the home in the future below its then market-rate value, so it remains affordable for the subsequent lower income homebuyer. Every lower income owner of the home agrees to restrict the price for which the home may be resold, so the home remains permanently affordable. The homeowners of the shared equity homes build wealth from paying down their mortgages and from the homes increasing in value—although they do not receive all the appreciation. That way, the home can be sold at an affordable price resale after resale. The map excludes “shared equity” or “shared appreciation” programs that are not intended to keep properties permanently affordable beyond 30 years.
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